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Tuesday, July 16, 2024
Bullish Bitcoin (BTCUSD) Price Soars to New Heights - Hold for Long-Term Growth 🚀💰
Technical Analysis
Bitcoin (BTCUSD) closed at $64,851.15 on July 15, 2024, showing a robust increase of 6.67%, or $4,057.18. The price reached a low of $64,740.32 and a high of $64,851.15 during the trading day. Bitcoin is currently displaying relative strength with an RSI14 of 54, indicating neither overbought nor oversold conditions.
Notably, BTC is trading above both its 50-day and 200-day moving averages, which are at $64,143.92 and $59,210.47 respectively. This bullish trend is further supported by recent volume spikes; the daily volume stand at $32.08 billion compared to an average of $27.12 billion. The ATR of 3.43 suggests moderate volatility, providing traders with predictable price movements. Immediate support and resistance levels for BTC are placed at $62,977.82 and $67,293.36, respectively.
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The MACD (3-month) value of -2371.19, while negative, reflects a mean reversion from a recent downturn, and this is corroborated by the solid price gains seen recently.
Fundamental Analysis
Bitcoin's market cap stands at a robust $1.28 trillion, emphasizing its dominant position in the cryptocurrency market. Despite lacking traditional metrics like EPS and PE ratio, Bitcoin's fundamental strength can be inferred from its widespread adoption and the recent positive news driving market sentiment.
Recent news highlights significant buying interest in Bitcoin, with over 48,000 BTC absorbed by the market despite a sell-off by the German government. This indicates healthy demand-side strength. Furthermore, analysts suggest the potential for an extraordinary bull run, spurred by sustained institutional interest and increased market participation.
However, looming uncertainties exist, as noted in reports of large BTC outflows from the defunct Mt. Gox, potentially injecting $8 billion worth of BTC into the market. This could exert short-term downward pressure.
Fundamentally, Bitcoin's long-term prospects remain favorable due to its deflationary nature and network effects. The recurring halving events further enhance scarcity, potentially driving value appreciation over time.
Next Trading Day Prediction
For the next trading day (July 16, 2024), Bitcoin is poised to test the higher levels around its resistance of $67,293.36. The recent bullish sentiment and strong technical indicators support potential upward movement. Should Bitcoin break through the resistance, an immediate target could be the higher price levels around the year high of $73,750.07.
Upcoming Week Prediction
Over the upcoming week, Bitcoin is likely to continue its upward momentum, testing the upper price ranges provided bullish market conditions persist. The inflow of institutional investments and positive technical parameters suggest sustained growth. Should it surpass the resistance at $67,293.36 decisively, Bitcoin may challenge the year high of $73,750.07. Conversely, any negative news or large sell-offs, such as the one indicated from Mt. Gox creditors, could test the support levels around $62,977.82.
Intrinsic Value and Long-term Investment Potential
Bitcoin, as an asset, possesses strong long-term investment potential owing to its limited supply cap of 21 million coins and first-mover advantage in the cryptocurrency space. While immediate volatility remains high, its properties as a digital store of value continue to attract investors seeking to hedge against inflation and diversify portfolios.
Additionally, growing mainstream adoption and regulatory advancements contribute to Bitcoin's intrinsic value. Despite the absence of intrinsic earnings, its decentralized nature and increasing utility in global finance mark Bitcoin as a fundamental long-term hold.
Overall Evaluation
Given the current market dynamics, technical indicators, and fundamental outlook, Bitcoin (BTCUSD) a [...]
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NVIDIA (NVDA) Shows Neutral Technicals, Solid Fundamentals Point to Long-Term Growth Potential 📈
Technical Analysis
NVIDIA Corporation (NVDA) closed at $126.36 on July 16, 2024, reflecting a 1.62% decline with a price range of $124.58 to $129.04. The stock's 14-day Relative Strength Index (RSI) is at 50, indicating a neutral momentum. The 50-day moving average stands at $113.63, while the 200-day moving average is $75.60, suggesting a strong uptrend over the longer term. The MACD over the past three months is 1.42, reinforcing the bullish trend.
The Average True Range (ATR) of 4.20 points to a fair level of volatility for the stock. With supports at $120.998 and resistance around $126.57, NVDA is trading near its resistance level. A break above resistance could signal upward movement, while a failure to hold support may prompt further declines.
🚀 Unlock Exclusive Insights on NVDA: Get deeper analysis and expert views on NVDA's latest market trends before you read on. Click Here to Dive In 🌟
Fundamental Analysis
NVIDIA boasts an impressive market capitalization of $3.11 trillion. The company has shown remarkable growth, supported by EPS of 1.71 and a relatively high P/E ratio of 73.89, suggesting significant expectations for future earnings growth. The stock has gained positive sentiment with increasing enthusiasm around artificial intelligence, highlighted by major news indicating substantial revenue and EPS growth in the last fiscal year.
Market analysts project a target median price of $118, with a consensus rating leaning towards 'Buy'. The high target of $220 and the low target of $13.3 illustrate the stock's perceived volatility and differing market opinions. Furthermore, the upcoming earnings announcement on August 28, 2024, is a critical event that could potentially drive the stock's price.
Short-Term Predictions
Considering the neutral RSI and the position near resistance, NVDA's performance on the next trading day (July 17, 2024) will likely hinge on broader market movements and investor sentiment. If the stock breaks through the $126.57 resistance level, it may experience a short-term rally.
For the upcoming week, NVIDIA's stock performance will be influenced by ongoing market reactions to the latest news about its potential gains from Bitcoin's bullish run and the company's dominating position in the AI sector. Volatility remains a factor, as indicated by the stock's ATR.
Intrinsic Value and Long-Term Investment Potential
The discounted cash flow (DCF) value calculated at $58.46 suggests the stock may currently be overvalued compared to its intrinsic worth, reflecting the market's high-growth expectations. However, NVIDIA's leadership in AI and robust growth trajectory present substantial long-term potential.
The positive market sentiment, solid fundamental performance, and dominance in emerging technologies such as AI bolster the stock's prospects. The news indicating significant growth and the upcoming earnings announcement might further solidify investor confidence.
Overall Evaluation
Given the current analysis, NVIDIA Corporation is categorized as a 'Hold' candidate. Despite the sho [...]
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JD Vance isn’t just a friend of Silicon Valley’s worst billionaires; he is their creation. Peter Thiel, the billionaire tech investor turned digital defense contractor, enabled his entire political career.
I didn't know much about JD Vance before Trump picked him as VP, aside from the fact that my dad thought his personal struggle was uplifting.
And while he may have overcame a lot of hardships, as the San Francisco Standard points out - his career seems to be almost entirely fostered by Peter Thiel and other Big Tech cronies.
As Trump has shown recently, he's willing to sell out his red-cap 'principles' to the highest bidder. In the case of immigration, it's Big Tech.
And likewise, Thiel and Big Tech want Vance apparently so they'll buy Trump off in that same way.
That’s because Vance isn’t just a friend of Silicon Valley’s worst billionaires; he is their creation. Peter Thiel, the billionaire tech investor turned digital defense contractor, enabled his entire political career.
It was Thiel who, in 2017, hired Vance to work at his Mithril Capital firm (Mithril is a metal featured in “The Hobbit”) and later invested heavily in Vance’s fund Narya Capital (Narya is a ring in “The Lord of the Rings”). Thiel then donated more than $15 million to Vance’s Senate campaign and personally escorted Vance to Mar-a-Lago to patch over his former “Never Trump” stance.
Before Thiel announced that he was taking a break from democracy, he introduced Vance to David Sacks, his old PayPal Mafia colleague. Sacks promptly donated $1 million to a pro-Vance Super PAC and hosted a fundraiser for him. Sacks and Vance later worked together to organize Trump’s only San Francisco campaign fundraising event, aimed at nudging the candidate to further embrace and deregulate cryptocurrency. Thiel has reportedly made more than $1.8 billion from Bitcoin and other currencies.
Of course, this wouldn’t be the first time Thiel and his cronies have tried to buy an outsize role in Trump’s legislative agenda. After all, it was Thiel who rescued Trump’s 2016 campaign with a $1.25 million donation a week after the “Access Hollywood” tape, in the apparent hope of gaining influence in a future administration.
Trump stands for nothing but a desire for power. He'll sell America out any semblance of American geopolitical interests in the Middle East, by deferring to the judgment of the pro-Israel lobby and the Adelsons family. And now, he'll do whatever Big Tech wants him to do, including pick his VP, all so he can get back into power.
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