Bitcoin, Sugar Price, Apple, Turkish Crypto and More: Editor’s Choice
Published on September 10, 2023 at 08:36:22 ET
Why did Bitcoin fall?
Bitcoin’s price has been falling, reaching an 11-week low. Invezz’s Head of Research, Dan Ashmore, explores the reasons behind this decline. The analysis considers both macro and micro factors and provides insights into what might happen next for Bitcoin.
- Bitcoin’s price continues to fall
- Head of Research, Dan Ashmore, analyzes the reasons behind the decline
- Macro and micro factors are explored
- Insights into the future of Bitcoin
Read more on why Bitcoin fell here.
On-chain roundup: Long-term Bitcoin holders increasing
Invezz reports on the consistent growth of long-term holders of Bitcoin. According to Glassnode, approximately 14.7 million Bitcoin are now held by long-term holders, representing 75% of the total circulating supply. This indicates an increase of around 700,000 Bitcoin since April this year.
- Long-term holders of Bitcoin are increasing
- 14.7 million Bitcoin held by long-term holders
- Represents 75% of the total circulating supply
- An increase of around 700,000 Bitcoin since April
Read more on the long-term Bitcoin holders increasing here.
Sugar price rockets higher as supply concerns continue
Sugar prices have been rising due to supply concerns. India, the world’s second-biggest producer of sugar, is expected to experience a significant drop in sugar output this year. Invezz analyst Crispus Nyaga examines whether the bullish sugar rally can be sustained.
- Sugar prices are increasing
- Supply concerns in the sugar industry
- India’s sugar output expected to drop
- Invezz analyst Crispus Nyaga analyzes the sustainability of the sugar rally
Read more on the sugar price analysis here.
Turkey sees increased crypto adoption amid troubling inflation: report
Turkish people are turning to cryptocurrencies as a response to crippling inflation. KuCoin’s recent report shows that the crypto adoption rate in Turkey has increased from 40% to 52% within the past two years. This surge in adoption coincides with a significant decline in the value of the Turkish Lira against the US Dollar.
- Turkish people are adopting cryptocurrencies
- Crypto adoption rate in Turkey increased to 52%
- Value of Turkish Lira has plummeted over 50%
- KuCoin’s report highlights the increased crypto adoption in Turkey
Read more on Turkish crypto adoption here.
Apple stock outlook: LightShed analyst warns of a 33% downside
Walter Piecyk, a Senior Analyst at LightShed Partners, has a “sell” rating on Apple stock and predicts further trouble ahead. Piecyk believes that Apple’s stock price could decline by 33% to $120.
- LightShed analyst warns of a 33% downside for Apple stock
- Further restrictions imposed on iPhones in China
- Piecyk predicts Apple’s stock price could decline to $120
- Analyzing the outlook for Apple’s stock
Read more on the Apple stock outlook here.
Saudis extend voluntary oil production cut again: ‘focus more on natural gas’
Saudi Arabia has announced plans to extend its voluntary oil production cut for the remainder of this year. With oil prices approaching $88 a barrel, the country is expected to shift its focus towards natural gas.
- Saudi Arabia extends voluntary oil production cut
- Oil prices approaching $88 a barrel
- Shift in focus towards natural gas
- Implications of Saudi Arabia’s decision
Read more on the Saudi voluntary oil cut extension here.
What landmark decisions were made on Day 1 of the G20 summit?
The first day of the G20 summit saw several landmark decisions. The summit addressed the ongoing conflict between Russia and Ukraine and introduced the India-Middle East-Europe (IMEC) Economic Corridor, also known as the ‘new spice route.’ Bilateral meetings were held between PM Modi and the leaders of Japan, the UK, and Italy.
- Landmark decisions made on Day 1 of the G20 summit
- Russian war against Ukraine discussed
- Introduction of the India-Middle East-Europe (IMEC) Economic Corridor
- Bilateral meetings between PM Modi and leaders of Japan, the UK, and Italy
Read more on what was discussed and agreed on Day 1 of the G20 Summit here.
This article was originally published on Invezz.