2019年4月3日
Bitcoin mysteriously rocketed above $5,000
Bitcoin’s surge of more than 23% on Tuesday to above $US5,000 a coin is causing traders to scratch their heads. One theory that has emerged speculates that the jump was fuelled by an April Fools’ Day story that said the US Securities and Exchange Commission was approving bitcoin exchange-traded funds.
It’s unclear whether the gag was the culprit, especially as it was published the day before the spike. There were $US415 million worth of short positions that the market might have been eager to bet against. Still, traders are stumped.
There have also been rumours about buying bots going awol after some fake news about an ETF green light from the SEC was released as part of an April Fools’ joke. Another analyst said the move was most likely caused by technicals. “The price passed the $US4,200 level to the upside overnight. Before the rally, bitcoin had been having a quiet year, hovering between $US3,400 and $US4,000. Bitcoin began that year worth less than $US1,000 a coin before soaring by more than 2,000% to a high of $US19,511. Bitcoin plummeted 70% in 2018, reaching a low of $US3,136 in December.
Oil surges as 'headway' hopes for China trade war talks boost global stock markets
Global markets are basking in optimism on the outcome of US-China trade talks, with the improved sentiment also boosting energy prices.
Brent crude approached its highest levels this year and sits just outside the $US70 a barrel, traders are also positive that the easing trade war concerns will improve China’s energy demand, similarly aiding prices. That positivity has been boosted by strong data out of China and a belief that a resolution to the lengthy US-China trade war may be in sight. Asian stocks rallied to seven month highs.
Whilst traders are starting to look for more solid evidence that a trade deal between the two powers is achievable within the coming months, there is also a sense that investors are looking for any positive rhetoric to sustain the current rally
Andreessen Horowitz renouncing its status as a venture-capital firm
Andreessen Horowitz, one of Silicon Valley’s flagship institutional tech investors, has renounced its status as a venture-capital firm and is in the process of registering as a financial adviser. The entire firm will register as financial advisers. The new approach allows the firm to take larger, riskier bets in the markets for emerging technologies, including cryptocurrency.
Traditionally, venture-capital firms are allowed to invest in shares of private startups. By waiving that exemption and getting its employees certified as financial advisers, Andreessen Horowitz is able to broaden the types of investments it can make. That means that Andreessen Horowitz will be allowed to do things such as hold a portfolio of cryptocurrencies or take a position in a public company.
The firm is also in the process of closing a new growth fund that will add $US2 billion to $US2.5 billion for David George, the firm’s newest partner, to invest across its existing portfolio and other high-growth startups. Andreessen founded the firm in 2009 after selling Opsware to HP in 2007. Since its founding, the namesake firm has generated an estimated $US10 billion in profits for investors.