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Ethereum network upgrade that will destroy coins could cause 'explosive growth' in the ether price, experts say

Ether is the cryptocurrency of the Ethereum network Photothek/Getty Images An upgrade to the Ethereum network will change the way transactions work, and will start to destroy coins.The fall in supply could trigger "explosive growth" in the ether price, one expert said.Ether has soared more than 130% in 2021, but the cryptocurrency remains highly volatile.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.A change in the Ethereum network that will cut limit the amount o...
Tags: London, Trends, Ethereum, Justin, OANDA, Harry Robertson, Edward Moya, Insider Ethereum, Equos


MicroStrategy reveals additional $10 million bitcoin bet, bringing its total holdings close to 100,000 bitcoins

Sheldon Cooper/SOPA Images/LightRocket via Getty Images MicroStrategy bought an additional 205 bitcoins at an average price of $48,888 per coin.The company's latest $10 million bitcoin bet takes its total holdings to about 91,065 bitcoins.The value of MicroStrategy's total bitcoin holdings amounts to about $4.4 billion as of Friday.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.MicroStrategy has boosted its investment in bitcoin again and now owns almost 100,000 t...
Tags: Trends, Securities And Exchange Commission, Sheldon Cooper, MicroStrategy, OANDA, Edward Moya, Shalini Nagarajan, Getty Images MicroStrategy, Things Before the Opening Bell MicroStrategy


Oil surges 5% following reports OPEC+ will extend production cuts through April

Workers extract oil from wells in the Permian Basin in Midland, Texas. Benjamin Lowy/Getty Images Oil prices surged by more than 5% after OPEC and its allies reportedly agreed to keep output levels steady.  Saudi Arabia committed to sticking with a voluntary oil supply cut of 1 million barrels per day. The supply decision by OPEC+ is "incredibly bullish" for the oil market, says one analyst.   Visit the Business section of Insider for more stories. Oil prices soared Thursday in the wake of...
Tags: Energy, Saudi Arabia, Oil, Trends, Markets, Opec, Bloomberg, Gas, Brent, EIA, Crude Oil, SPDR, Permian Basin, Carla Mozee, OANDA, Edward Moya


US futures edge up after Asian stocks plunge despite Fed chair Jay Powell's dovish comments

Federal Reserve chair Jay Powell struck a dovish tone on Tuesday Pool/Getty Images US stock futures nudged higher on Wednesday after Fed chair Jay Powell struck a dovish tone.Powell soothed investors' nerves about rising inflation and bond yields.Yet Asian tech stocks plunged overnight as investors second-guessed the recent rally.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.US stock futures were mostly steady on Wednesday, edging modestly higher after Federal Res...
Tags: Amazon, Asia, Hong Kong, Europe, UK, Congress, China, Global, US, Trends, Tesla, US Treasury, Federal Reserve, Dow Jones, Fed, Powell


Bitcoin plunges as much as 17% as investors grow wary of record-breaking rally

Bitcoin has soared in 2021, but investors pulled back on Monday and Tuesday Dado Ruvic/Reuters The bitcoin price slumped to as low as $45,000 on Tuesday before recovering some ground.Other cryptocurrencies such as ether and XRP also plunged as cash fled the market.Investors have second-guessed the recent market rally, with tech stocks also tumbling.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.The bitcoin price briefly plunged as much as 17% on Tuesday to below $4...
Tags: Elon Musk, US, Trends, Tesla, Delta, Treasury, Janet Yellen, Nasdaq, Btc, Cnbc, Craig Erlam, OANDA, Harry Robertson, Binance, Dado Ruvic Reuters, Pankaj Balani


Bitcoin plunges 18% as investors grow wary of record-breaking rally

Dado Ruvic/Reuters Bitcoin slumped as much as 18%, to $45,000, on Tuesday before slightly paring losses.Other cryptocurrencies such as ether and XRP also plunged as cash fled the market.Investors have second-guessed the recent market rally, with tech stocks also tumbling.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Bitcoin plunged as much as 18%, to $45,000, on Tuesday before slightly paring some losses as sky-high cryptocurrency valuations unnerved investors.Th...
Tags: Elon Musk, US, Trends, Markets, Tesla, Delta, Treasury, Janet Yellen, Nasdaq, Cryptocurrencies, Btc, Cnbc, ETH, Craig Erlam, OANDA, Harry Robertson


Bitcoin breaks $50,000 for the first time as record-shattering 2021 rally extends to 74% amid Wall Street adoption

Cesc Maymo/Getty Images Bitcoin price rose as much as 4.9% on Tuesday, to $50,547.70. The climb marked an intraday record high for the cryptocurrency. Interest from institutional investors is adding legitimacy and confidence to the rally. BNY Mellon is creating a crypto unit while Morgan Stanley is reportedly weighing investing. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The price of bitcoin jumped above $50,000 for the first time on Tuesday morning, bringin...
Tags: Elon Musk, Wall Street, Trends, Markets, Tesla, Bloomberg, Bitcoin, Morgan Stanley, Goldman, Cnbc, Mastercard, Gamestop, Jpmorgan, BNY Mellon, Daniel Pinto, Craig Erlam


US oil and natural gas prices rise as freezing temperatures leave millions without power in Texas

Temperatures have plunged in Texas, causing energy prices to spike Montinique Monroe/Getty Images WTI crude oil was trading at around one-year highs while natural gas prices spiked. Temperatures of below 4F in Texas have caused chaos for the state's energy infrastructure. Wholesale energy prices have skyrocketed as demand jumps while production stutters. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US oil and natural gas prices rose on Tuesday, as freezing cold...
Tags: Texas, US, Trends, United States, Goldman, Exxon, Gamestop, Jpmorgan, Dallas Texas, OANDA, Harry Robertson, Jeffrey Halley, Montinique Monroe Getty Images WTI, Oklahoma Kansas New Mexico Colorado


Bitcoin jumps to within $2 of $50,000 as currency hits new high thanks to Wall Street interest

The bitcoin price hit a record high of $49,998 on the Binance exchange Ozan Kose/Getty Images The bitcoin price rose to $49,998 on the Binance exchange before slipping back. Interest from institutional investors is adding legitimacy and confidence to the rally. BNY Mellon is creating a crypto team while Morgan Stanley is reportedly weighing investing. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The bitcoin price hit a record high just $2 away from the vaunted ...
Tags: Elon Musk, Wall Street, Trends, Tesla, Bloomberg, Morgan Stanley, Btc, Cnbc, Mastercard, Jpmorgan, BNY Mellon, Mellon, Ruffer, Daniel Pinto, Craig Erlam, OANDA


Bitcoin drops from record-high of nearly $50,000 after a week of increased attention on Wall Street

Cesc Maymo/Getty Images Bitcoin fell from its record high of nearly $50,000 on Monday after a week-long flurry of increased attention.The token traded around 1.6% lower at $47,845 after hitting its latest all-time high of $49,716 on Sunday.Rising prices and market dominance will lead to increased regulatory scrutiny, one crypto expert said.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Bitcoin slid on Monday from its latest all-time high as investors took profit f...
Tags: Wall Street, Trends, Tesla, Deutsche Bank, Morgan Stanley, Mastercard, SPAC, Halley, Bank of New York Mellon, OANDA, Jeffrey Halley, Shalini Nagarajan, Milan Cutkovic, Tom Finke, Nigel Green CEO, Things Before the Opening Bell Bitcoin


XRP jumps 15%, while bitcoin and ether trade near record highs as Tesla, BNY Mellon and Mastercard warm to cryptocurrencies

Mastercard and BNY Mellon have warmed to bitcoin, boosting other cryptocurrencies like XRP Yuriko Nakao/Getty Images XRP price jumped as much as 15%, while bitcoin and ether traded near record highs. Elon Musk's Tesla bitcoin purchase sent it soaring to a record high on Monday. Bitcoin hit a new high on Thursday after Mastercard and BNY Mellon showed interest. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The XRP price jumped on Friday as interest in cryptocurre...
Tags: Elon Musk, Trends, Tesla, Reddit, Mastercard, BNY Mellon, Bank of New York Mellon, Ruffer, Craig Erlam, Bitstamp, OANDA, Harry Robertson, Neil Wilson, Tesla BNY Mellon, XRP Yuriko Nakao Getty


With a naked option, you strike a deal over a stock you don't actually hold - here's how it works, and why it's risky

Tetra Images/Getty Images A naked option is one sold by someone who doesn't own the underlying security the contract's based on. Naked options potentially let traders pocket the option fee without ever having to invest any money. Naked options are highly risky: Losses can be high if the seller has to honor the options contract. Visit Business Insider's Investing Reference library for more stories. Options trading has become increasingly popular with investors over the last few years - the...
Tags: Trends, Markets, Freelance, Short Selling, Moya, Simon Chandler, Robert Ross, OANDA, Edward Moya, Investing (Reference, Investing How To, Naked Options, Options Strategy, Edward Moya That, Mauldin Economics This


Bitcoin jumps 7% after Elon Musk posts an image of a crypto-themed ring and makes a vague reference to dogecoin

Photo illustration by Chesnot/Getty Images Bitcoin spiked 7% on Thursday after Elon Musk's consistent tweets about the asset continued.The billionaire also made a reference to dogecoin, the meme-based crypto that's soared this year.Announcements from Mastercard, Bank of New York Mellon, and Uber also further boosted its price.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.The price of bitcoin rose by as much as 7% on Thursday after Elon Musk posted a vague tweet w...
Tags: Elon Musk, Trends, Tesla, Ubs, Musk, Frodo, Dogecoin, Nathan Cox, Ruffer, Craig Erlam, OANDA, Elon Musk s Twitter, Shalini Nagarajan, Chesnot Getty Images Bitcoin, Mastercard Bank of New York Mellon


Bitcoin jumps by $2,000 after Elon Musk posts an image of a crypto-themed ring and makes a vague reference to dogecoin

Photo illustration by Chesnot/Getty Images Bitcoin spiked 3% on Thursday after Elon Musk's consistent tweets about the asset continued.The billionaire also made a reference to dogecoin, the meme-based crypto that's soared this year.What's more powerful than Musk's Twitter is the financial power of Tesla, one analyst said.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.The price of bitcoin rose by as much as 3% on Thursday after Elon Musk posted a vague tweet with a...
Tags: Elon Musk, Trends, Tesla, Ubs, Musk, Frodo, Dogecoin, Nathan Cox, Ruffer, Craig Erlam, OANDA, Elon Musk s Twitter, Musk s Twitter, Shalini Nagarajan, Chesnot Getty Images Bitcoin


Global stocks rise as investors bet on a swift push by Democrats to pass Biden's stimulus plan

AP Photo/Richard Drew Global stocks gained on Wednesday as investors focused on Democratic efforts to agree on US stimulus. The "'buy everything trade still has the upper hand and FOMO hasn't gone," a market analyst said.Oil continued to rally, buoyed by optimism over global economic recovery.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Global stocks rose on Wednesday as House Democrats continued their efforts to quickly pass President Joe Biden's $1.9 trillion ...
Tags: Asia, Hong Kong, Europe, Japan, UK, Senate, China, Germany, Angela Merkel, Nikkei, US, Trends, Bloomberg, Bank Of England, Joe Biden, House


Bitcoin rockets to record high of $48,000 after Elon Musk's Tesla buys up $1.5 billion - with one backer saying the currency could hit $100,000 in 2021

The bitcoin price continued to break records, touching $48,000 before slipping back slightly. Elon Musk's Tesla said it had bought $1.5 billion of bitcoin, fuelling a cryptocurrency rally. Michael Novogratz said other companies would follow suit, although some analysts were skeptical. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Elon Musk's Tesla lit a fire under the Bitcoin price on Monday Odd Andersen/Getty Images The bitcoin price jumped to an all-t...
Tags: Europe, Elon Musk, America, Trends, Tesla, Bloomberg, Bitcoin, Ubs, Goldman, ESG, Gamestop, Musk, CME Group, Bloomberg TV, Derek Halpenny, Carson Block


Oil climbs to 13-month highs on output cuts, demand recovery hopes | Reuters

Oil climbs to 13-month highs on output cuts, demand recovery hopes | Reuters Oil prices advanced on Tuesday to their highest in 13 months, as supply cuts by major producers and optimism over a recovery in fuel demand support energy markets.Brent crude futures for April gained 50 cents, or 0.8%, to $61.06 a barrel by 0721 GMT. U.S. West Texas Intermediate crude (WTI) for March was at $58.37 a barrel, up 40 cents, or 0.7%.Both Brent and WTI touched their highest since January 2020 earlier in the s...
Tags: Travel, Saudi Arabia, Reuters, Reuters Oil, Organization of the Petroleum Exporting Countries, Rupert Neil Bumfrey, U S West Texas Intermediate, OANDA, Jeffrey Halley, Both Brent


Elon Musk sent Dogecoin soaring last week. Here are 6 times the Tesla boss has moved markets, from GameStop to Sandstorm

From GameStop to obscure gold miners, Tesla boss Elon Musk can move markets Pool/Getty Images Elon Musk has the power to move markets with a single tweet to his 45 million followers. He cheered on the GameStop rally and has sent investors piling into obscure companies. Over the last two weeks, he helped send Dogecoin as much as 60% higher and boosted Bitcoin. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Move over Warren Buffet, a new market sage has the ear of ...
Tags: Spacex, Elon Musk, UK, Etsy, Trends, Tesla, Bitcoin, Reddit, Biden, Wall Street Journal, Signal, Gamestop, Musk, Marvin the Martian, Dogecoin, Shiba Inu


Bitcoin jumps above $38,000 as crypto momentum flirts with key resistance level

Chesnot/Getty Images Bitcoin climbed above $38,000 for the third time in a week on Friday in an attempt to hold the key support level.The cryptocurrency has steadily trended higher after peaking near $42,000 last month and plunging soon after.Indicators suggest the coin has room to run and will make another run at the $40,000 level, one analyst said.Watch bitcoin trade live here.Bitcoin rose as high as $38,346.61 on Friday as the world's most popular cryptocurrency faced the latest hurdle ...
Tags: Trends, Markets, Tesla, Bitcoin, Reddit, Crypto, Btc, Cryptocurrency, Gamestop, Carson Block, OANDA, Bitcoin Price, Cryptocurrency Market, Ben Winck, BTC price, BTC price today


Oil hits highest in a year on growth hopes, OPEC+ cuts | Reuters

Oil hits highest in a year on growth hopes, OPEC+ cuts | Reuters Oil hit its highest level in a year on Friday, closing in on $60 a barrel on economic revival hopes and supply curbs by producer group OPEC and its allies.New orders for U.S.-made goods rose more than expected in December, pointing to continued strength in manufacturing. The U.S. Congress is also moving ahead on President Joe Biden’s COVID-19 relief plan.Brent crude was up 63 cents, or 1.1%, at $59.47 by 1200 GMT after hitting its ...
Tags: Travel, Congress, Opec, Joe Biden, Reuters, Reuters Oil, Rupert Neil Bumfrey, OANDA, Jeffrey Halley


US stocks set to hit new highs while oil soars as US jobless claims beat expectations and economies show signs of recovery

Oil prices have jumped, with investors expecting a strong rebound in demand as economies recover. Ken Cedeno/Getty Images Strong US economic data lifted market optimism at the end of the week. US stocks were inching toward all-time highs early Friday. The S&P 500 has climbed about 4% this week, while oil prices have soared. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stocks were on track to rise to all-time highs Friday at the end of a stellar week in which...
Tags: Europe, Japan, UK, Congress, US, Trends, Bank Of England, Bitcoin, Treasury, Brent, Republican, Nasdaq, Gamestop, Dogecoin, Daiwa, OANDA


US stocks set to hit new record highs, while oil soars as US jobs data beats expectations and economies show signs of recovery

Oil prices have jumped, with investors expecting a strong rebound in demand as economies recover Ken Cedeno/Getty Images Strong US economic data lifted market optimism at the end of the week. US stocks were on track to inch higher towards new all-time highs on Friday. The S&P 500 has climbed around 4% this week while oil prices have soared. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stocks were on track to rise to new all-time highs on Friday at the end of...
Tags: Europe, Japan, UK, Congress, US, Trends, Bank Of England, Bitcoin, Treasury, Brent, Republican, Nasdaq, Dow Jones, Gamestop, Dogecoin, Daiwa


US futures edge higher after stellar start to February, while dollar climbs to 2-month high as economic outlook brightens

Joe Biden's $1.9 trillion stimulus plan and better-than-expected data have brightened the outlook for US stocks Evan Vucci/AP US stocks were set to open slightly higher on Thursday, according to futures. The dollar was trading at around a 2-month high, while bond yields edged upwards. Upbeat jobs data on Wednesday has combined with stimulus plans to support sentiment. Sign up here for our daily newsletter, 10 Things Before the Opening Bell.  US stocks were set to rise gently at the ope...
Tags: Europe, Japan, UK, China, US, Trends, Bank Of England, Mario Draghi, Joe Biden, Italy, Mario, US Treasury, Ecb, Morgan Stanley, Nasdaq, Dow Jones


Oil climbs after OPEC+ maintains oil output cuts, U.S. stock draw | Reuters

Oil climbs after OPEC+ maintains oil output cuts, U.S. stock draw | Reuters Oil prices extended gains on Thursday after the OPEC+ alliance of major producers stuck to a reduced output policy, and as crude stockpiles in the United States fell to their lowest levels since March last year.Brent crude futures gained 51 cents, or 0.9%, to $58.97 a barrel, by 0741 GMT, having earlier hit their highest since Feb. 21, 2020 in the wake of the OPEC+ decision.U.S. West Texas Intermediate (WTI) crude future...
Tags: Travel, Opec, United States, Reuters, Reuters Oil, U S West Texas Intermediate WTI, Rupert Neil Bumfrey, OANDA, Edward Moya


US stocks are set to open higher, as stimulus talks and vaccine rollouts pick up, while fears over day traders fall as GameStop sinks

President Joe Biden yesterday met Republican senators to discuss his $1.9 trillion stimulus plan Pool/Getty Images US stocks were set to open higher as stimulus talks and vaccine rollouts pick up speed. The dollar rose to its highest level in 7 weeks overnight while the euro slipped. A fall in 'meme' stocks like GameStop calmed investors' nerves after last week's buying frenzy. Sign up here for our daily newsletter, 10 Things Before the Opening Bell.  US stocks were set to open higher on T...
Tags: Hong Kong, Europe, Washington, China, Germany, Amc, US, Trends, Joe Biden, Britain, Ubs, Deutsche Bank, US Treasury, Biden, Nasdaq, Dow Jones


Options let you lock in a good price on a stock without actually buying it - here's how option trading works

Like putting down a deposit, trading options offers a way to secure the right to buy or sell an asset - without obligating you to actually do so. John W Banagan/Getty Images An option is a contract giving you the right but not the obligation to buy or sell an asset at a specific price before a specific date. If the asset doesn't perform as hoped, the option just expires; you're only out the small premium you paid for it. Though low-risk, options do incur costs, and require careful timing ...
Tags: Trends, Markets, Tesla, Freelance, Ross, Moya, Options, Simon Chandler, Robert Ross, Mauldin Economics, OANDA, Big Tech Company, Big Oil Company, Edward Moya, Fidelity Charles Schwab, Options Trading


Options let you lock in a good price on a stock without actually buying it - here's how trading options works

Like putting down a deposit, trading options offers a way to secure the right to buy or sell an asset - without obligating you to actually do so. John W Banagan/Getty Images An option is a contract giving you the right but not the obligation to buy or sell an asset at a specific price before a specific date. If the asset doesn't perform as hoped, the option just expires; you're only out the small premium you paid for it. Though low-risk, options do incur costs, and require careful timing ...
Tags: Trends, Markets, Tesla, Freelance, Ross, Moya, Options, Simon Chandler, Robert Ross, Mauldin Economics, OANDA, Big Tech Company, Big Oil Company, Edward Moya, Fidelity Charles Schwab, Options Trading


Options let you lock in a good price on a stock without actually buying it - here's how options trading works

Like putting down a deposit, trading options offers a way to secure the right to buy or sell an asset - without obligating you to actually do so. John W Banagan/Getty Images An option is a contract giving you the right but not the obligation to buy or sell an asset at a specific price before a specific date. If the asset doesn't perform as hoped, the option just expires; you're only out the small premium you paid for it. Though low-risk, options do incur costs, and require careful timing ...
Tags: Trends, Markets, Tesla, Freelance, Ross, Moya, Options, Simon Chandler, Robert Ross, Mauldin Economics, OANDA, Big Tech Company, Big Oil Company, Edward Moya, Fidelity Charles Schwab, Investing (Reference


GameStop day traders shook markets and hit hedge funds for billions. What has Wall Street learned?

GameStop shares soared last week, costing short-sellers billions of dollars. AaronP/Bauer-Griffin/Getty The financial world looked on with amazement last week as members of a Reddit forum bled some of the world's biggest hedge funds dry. Hedge funds and short-sellers were forced to rethink their approach after losing billions. Reddit day traders stunned Wall Street, shaking the wider market. Yet some wily firms made a killing as the GameStop battle played out. Sign up here for our daily new...
Tags: Amc, Global, US, Trends, Reddit, Ubs, Morgan Stanley, Short, Saxo Bank, Financial Times, Cnbc, Gamestop, Citron Research, Mike Wilson, Melvin Capital, Andrew Left


Dow slides 200 points on concerns of retail investors' speculative trading

A man sits on the Wall street bull near the New York Stock Exchange (NYSE) on November 24, 2020 in New York City. Spencer Platt/Getty Images US equities slid on Friday as investors braced for more day trader-fueled volatility and balked at Johnson & Johnson's COVID-19 vaccine data.Reddit traders drove GameStop, AMC, and other favorites higher after brokers removed some trading restrictions.Johnson & Johnson said its vaccine was 66% effective, but data suggests the shot is less beneficial ag...
Tags: Elon Musk, Amc, US, Trends, Markets, Tesla, Bitcoin, South Africa, Reddit, Treasury, Biden, S&P 500, Dow Jones Industrial Average, Gamestop, Nyse, Johnson & Johnson