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On July 4, JPMorgan Chase published a research report, maintaining its positive view on Standard Chartered Group, pointing out that although Standard Chartered was involved in the lawsuit related to Malaysias 1Malaysia Development Berhad (1MDB), and was accused of allowing more than 100 intra-bank transfers between 2009 and 2013 to help hide stolen funds, the lawsuit may take several years to resolve, and it is estimated that the groups distribution of more than US$8 billion from 2024 to 2026 and the repurchase plan of US$2.75 billion in fiscal 2025 will have limited impact. JPMorgan also pointed out that in the worst case, the fine is as high as US$2.7 billion, equivalent to 37% of the profit forecast of US$5.3 billion in 2027, which is estimated to bring a 72 basis point drag on the banks Tier 1 capital ratio (CET1) in 2027, which is still within the controllable range, and it is believed that the actual penalty amount will be much lower than this. Morgan Stanley continues to list Standard Chartered as its top choice among Hong Kong banking stocks, believing that Standard Chartered is less affected by the decline in HIBOR and the risks of Hong Kong commercial real estate; and is a major beneficiary of the internationalization of the RMB; and has a clearer digital asset development strategy, which allows it to better withstand the impact of stablecoins than its peers. The target price is HK$135 and the rating is "overweight".According to TASS: Russian air defense forces destroyed 48 Ukrainian drones at night.US President Trump: Letters regarding tariffs will be sent out starting this Friday. It is expected that 10 to 12 countries will receive relevant notifications on Friday.US President Trump: Will speak with Ukrainian President Zelensky on Friday. Disappointed with the call with Russian President Putin. Does not think Putin intends to stop the action.According to the Financial Times: British Chancellor of the Exchequer Reeves is expected to deliver a speech at the official residence on July 15 to announce the UK pension reform plan, including a review of the retirement reserves of companies and their employees.

Bitcoin – The Spring Compressed Tightly

Alina Haynes

Oct 19, 2022 15:39

 截屏2022-10-19 下午3.36.14.png

 

Bitcoin is once again trading at $19.3K, as it has been seven of the last eight mornings. Again, attempts to extend the uptrend have been greeted with rising selling pressure. A flawless month-long flat has caused the rate to decrease by 1.5% in 24 hours, increase by 0.8% in 7 days, and increase by 2.4% in 30 days. Near $1300, Ethereum trades, dropping 2.4% in 24 hours but gaining 0.65% in 7 days.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads beginning at 0 pips and commissions of $3.50 every 100k traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

Bitcoin found room to move farther into the triangle's corner, pulling back from its upper boundary, and the 50-day moving average is now acting as resistance. All of this indicates that the financial world is awaiting additional clear signs before making a decisive move in either way.

 

Nevertheless, we continue to believe that the exit from this lull will be upward rather than downward - the downturn has been too protracted, and too much pessimism is already priced into prices.

 

At the same time, renowned crypto writer Ton Weiss predicted that Bitcoin's price may fall to $11,000 before regaining its footing. According to him, BTC is forming a downward triangle, similar to the triangle saw in 2018, when the value of the first cryptocurrency virtually halved. According to a second scenario, Bitcoin would continue to consolidate in a range until the end of the year.

History of the news

Glassnode cautioned that the drop in indicated and realized volatility towards historical lows portends an imminent increase in volatility.

 

Bitcoin was recognized as the oldest cryptocurrency, the first decentralized cryptocurrency, and the most expensive cryptocurrency in the most recent edition of the Guinness World Records ("Guinness World Records 2023").

 

Vitalik Buterin, co-founder of Ethereum, stated that network validators should be tolerant and refrain from censoring transactions that do not align with their values.

 

According to the Financial Conduct Authority (FCA) of the United Kingdom, bitcoin fraud has received the most investor complaints.

 

Interpol has established a dedicated unit to combat cryptocurrency crime. The Singapore-based team will help international law enforcement agencies with digital asset-related investigations.

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