Hello friends! Today is Friday, which means we are in a hurry with the latest news from the world of cryptocurrencies!
📌 The Bank of Russia insists that the use of cryptocurrencies within Russia carries risks, but is not opposed to their use in international transactions and international financial infrastructure.
📌Elon Musk, reacted to the statement of one of the creators of the Dogecoin cryptocurrency, Jackson Palmer, that the businessman does not understand programming.
“My children are better at programming, they even wrote better code at the age of 12 than the crazy code that Jackson sent me,” Musk said.
📌From June 2 to June 8, a “dress rehearsal” of the blockchain merger on the Proof-Of-Work (PoW) and Proof Of Stake (PoS) algorithms of the Ethereum test network called Ropsten will be held. This was announced by the developer Tim Beiko.
What are your thoughts on the Ethereum blockchain merger? Let us know in the comment section!
Hello friends! Today is Friday, which means we are in a hurry with the latest news from the world of cryptocurrencies!
📌 The Bank of Russia insists that the use of cryptocurrencies within Russia carries risks, but is not opposed to their use in international transactions and international financial infrastructure.
📌Elon Musk, reacted to the statement of one of the creators of the Dogecoin cryptocurrency, Jackson Palmer, that the businessman does not understand programming.
“My children are better at programming, they even wrote better code at the age of 12 than the crazy code that Jackson sent me,” Musk said.
📌From June 2 to June 8, a “dress rehearsal” of the blockchain merger on the Proof-Of-Work (PoW) and Proof Of Stake (PoS) algorithms of the Ethereum test network called Ropsten will be held. This was announced by the developer Tim Beiko.
What are your thoughts on the Ethereum blockchain merger? Let us know in the comment section!
However, analysts are positive on the stock now. “We have seen a huge downside movement in the stock due to the central electricity regulatory commission’s (CERC) order that seems to be negative from 2014-15 onwards but we cannot take a linear negative view on the stock and further downside movement on the stock is unlikely. Currently stock is underpriced. Investors can bet on it for a longer horizon," said Vivek Gupta, director research at CapitalVia Global Research.
Spiking bond yields driving sharp losses in tech stocks
A spike in interest rates since the start of the year has accelerated a rotation out of high-growth technology stocks and into value stocks poised to benefit from a reopening of the economy. The Nasdaq has fallen more than 10% over the past month as the Dow has soared to record highs, with a spike in the 10-year US Treasury yield acting as the main catalyst. It recently surged to a cycle high of more than 1.60% after starting the year below 1%. But according to Jim Paulsen, the Leuthold Group's chief investment strategist, rising interest rates do not represent a long-term threat to the stock market. Paulsen expects the 10-year yield to cross 2% by the end of the year.
A spike in interest rates and its impact on the stock market depends on the economic backdrop, according to Paulsen. Rising interest rates amid a strengthening economy "may prove no challenge at all for stocks," Paulsen said.
