BITCOIN page 2

Key events: Japan - BSI Large Manufacturing Conditions (Q4) USA - 3-Year Note Auction USA - 10-Year Note Auction Eurozone - ECB McCaul Speaks New Zealand - Electronic Card Retail Sales On Friday, the Dow experienced a rise, marking its lengthiest weekly winning streak since 2019. This surge was attributed to a stronger-than-expected jobs report, fostering optimism that the US economy would steer clear of a recession, coupled with ongoing speculations of an early rate cut in the coming year.

For those who harbor concerns about the stock market, the allure of alternative investments like Bitcoin may be tempting. However, when contemplating the world of cryptocurrencies, it's crucial to evaluate your overarching portfolio objectives and your tolerance for risk. Delve into the comparison of investing in Bitcoin versus traditional stocks to help you determine if incorporating this digital currency into your investment strategy aligns with your unique financial situation. 

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In the midst of recent volatility within the cryptocurrency markets, Bitcoin (BTC) and Ethereum (ETH) remain prominent as two of the leading large-market-cap cryptocurrencies. Year-to-date, Bitcoin has witnessed a substantial surge of 65%, while Ethereum has recorded a notable gain of 40%.

Key events:   Canada - New Housing Price Index (MoM) (Jul) On Friday, the US stock market presented a mixed picture, reflecting a situation where signs of resilience in the US economy are simultaneously fueling concerns about the prolonged maintenance of elevated interest rates. The Dow Jones Industrial Average demonstrated a modest rise of 30 points, equivalent to a 0.1% increase. Conversely, the S&P 500 experienced a slight dip of 0.2%, and the NASDAQ Composite saw a more notable decrease of 0.5%.

Key events: USA - United States - Independence Day Australia - RBA Interest Rate Decision (Jul) In a shortened session on Monday, Wall Street's primary indices eked out modest gains, supported by a surge in Tesla (NASDAQ: TSLA) and the resilience of bank shares, setting a subdued tone for the start of the second half of the year. Tesla shares experienced a notable increase of 6.9% after the electric vehicle manufacturer announced a record-breaking number of vehicle deliveries during the second quarter.

Earlier this month, the Securities and Exchange Commission (SEC) took action by suing two major cryptocurrency exchanges, Binance and Coinbase, as part of its intensified crackdown on the crypto industry. The SEC accuses both exchanges of knowingly violating securities laws that aim to safeguard investors. So what is all that turmoil about and what could be the consequences? Let`s get to the bottom of this.

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Key events: Australia - RBA Interest Rate Decision (Jun) Australia - RBA Rate Statement UK - Construction PMI (May) Canada - Ivey PMI (May) USA - EIA Short-Term Energy Outlook US stocks edged lower on Monday, trimming early gains, as investors weighed the near-term outlook for Apple while sifting through the economic data and plotting the slope for the Fed's final glide path as we near the end of their aggressive rate hike cycle.

Bitcoin halving is a crucial event in the world of cryptocurrency, which occurs every four years. As we approach the next bitcoin halving, scheduled for 2024, the anticipation and speculation around its impact on the market are increasing. Bitcoin halving is a process where the rewards for mining new blocks on the blockchain network are cut in half, reducing the amount of bitcoin produced every ten minutes.