Day: August 3, 2024

Hedge fund Elliott says AI is ‘overhyped’, Nvidia stock ‘a bubble’

Nvidia stock is in a “bubble” and its rally is being driven by an “overhyped” AI technology, hedge fund Elliott Management has told investors in a letter seen by the Financial Times. The hedge fund, which manages around $70 billion in assets, reportedly said that mega-cap tech stocks including NVIDIA Corporation (NASDAQ:NVDA) are in “bubble land,” voicing skepticism that the high-volume purchases of Nvidia’s graphics processing units by Big Tech companies will continue. submitted by /u/Ankle_be [link] [comments]

Warren Buffett’s Berkshire Hathaway discloses sale of nearly 50% of their Apple ($AAPL) shares, now holding a record $277 billion in cash.

https://preview.redd.it/qoz37sdqsggd1.png?width=1000&format=png&auto=webp&s=9187b754260113af831d0b80e900a66af4239b11 Buffett’s position in $AAPL was reduced by $86 BILLION. Months ago, Buffett said selling “a little Apple” would be beneficial in case capital gains tax rates rise. However, offloading 50% of his position is not “a little” sale. submitted by /u/XGramatik [link] [comments]

The Sahm Rule recession indicator climbed to 0.53 in July, up from 0.43, indicating that the U.S. economy may be in a recession.

https://preview.redd.it/vns2dx0auggd1.png?width=862&format=png&auto=webp&s=d0b828f57fb805a45eba3dfae873fd9ee68cbf50 This rule predicts a recession when the unemployment rate rises by 0.5 percentage points from its lowest level in the past 12 months. With the unemployment rate increasing to 4.3% in July from 4.1% in June, the Sahm Rule has been triggered. In the past 65 years, this indicator has never given a false signal. Moreover, every time the threshold has been crossed, the rise in the unemployment rate has accelerated. Are we already experiencing a recession? submitted by /u/XGramatik [link] [comments]

Could Apple’s stock plummet?

Warren Buffett cuts Berkshire Hathaway’s ($BRKb) investment in Apple ($AAPL) by 50% in the second quarter, reducing the number of shares from 789 million to about 400 million. Warren Buffett rarely sells early, accordingly, I would venture to guess that either he has found a better asset to invest in or he thinks Apple stock is close to falling. What do you think about it? submitted by /u/dll_crypto [link] [comments]

“Easy Choice”: Tether Boss Picks Bitcoin Over Ethereum

In a social media post, Tether CEO Paolo Ardoino has dismissed the idea of allocating a portion of the company’s profits to Ethereum, the second-biggest cryptocurrency by market cap. Ardoino has picked Bitcoin over Ethereum due to the former’s immutability and limited supply. “Bitcoin is immutable. Only 21 million coins. Easy choice,” he said. https://preview.redd.it/dhyglk4lpfgd1.png?width=735&format=png&auto=webp&s=a72d0d04dfd5300a35c9d282807aa7c57d9cf151 submitted by /u/Lor1al [link] [comments]

Trump’s victory could push Bitcoin toward $80,000 In this article, I will discuss how the re-election of Donald Trump can affect the bitcoin exchange rate and why most investors consider this event positive for the cryptocurrency market.

The re-election of Donald Trump and its impact on Bitcoin Introduction With the return of Donald Trump to the political arena, more and more experts are wondering about the possible impact of his re-election on the financial markets, especially cryptocurrencies. AMBCrypto conducted an extensive survey to find out investors’ opinions on how Trump’s re-election could affect the bitcoin exchange rate. Investor Survey: Views and Expectations The majority of investors surveyed, namely 80% of the 9,375 participants, are of the opinion that Donald Trump’s re-election as US President will be the catalyst for a significant rise in the bitcoin exchange rate, which could reach the $80,000 mark. They support their opinion with the following arguments: 🔹Support for new technologies: Trump is known for his favorability to new technologies, which can create favorable conditions for the development of cryptocurrencies. 🔹Innovative approach: Trump’s policies often include innovative solutions that can help build confidence in digital assets. 🔹Economic stability: His re-election is expected to bring economic stability, which will have a positive impact on the cryptocurrency market. Most investors are confident that Trump’s re-election will have a positive impact on the bitcoin exchange rate, underscoring their belief in sustainable growth for digital assets. Concerns about Bitcoin price growth The remaining 20% of survey participants expressed concerns that Donald Trump’s re-election could pose some risks to bitcoin. They believe that possible political decisions and changes in the regulatory environment could have a negative impact on the cryptocurrency market, leading to instability and volatility. The main reasons for their concerns include: 🔹Regulatory changes: New laws and regulations related to cryptocurrencies could restrict their use and cause a downturn in the market. 🔹Political uncertainty: Unexpected political decisions could lead to sharp fluctuations in the bitcoin exchange rate. 🔹Risks for investors: Tighter regulatory measures could scare away investors and reduce trading volumes on cryptocurrency exchanges. A minority of investors see Trump’s re-election as potential threats to bitcoin’s stability, pointing to the importance of the political environment and its impact on the digital asset market. Bitcoin’s network performance Experts have conducted a detailed analysis of bitcoin’s network performance in recent months and highlighted several key points that indicate positive trends. Key observations from the experts include: 🔹Positive futures funding rates: Since May this year, there has been a steady increase in funding rates, indicating traders’ faith in bitcoin’s price appreciation. 🔹Market Confidence: Investors remain optimistic about bitcoin’s long-term growth despite current fluctuations. 🔹Attention to the political situation: Ahead of the US presidential election, investors are closely watching political developments, expecting that they may significantly affect the cryptocurrency market. Network analysis confirms the market’s confidence in bitcoin’s future growth despite possible political uncertainties. You can also read Schiff’s opinion on the future of Bitcoin, read more here. The impact of political events, such as the possible re-election of Donald Trump, on the cryptocurrency market remains an important factor closely monitored by investors. Most of them are confident of a positive effect for bitcoin, as evidenced by current trends and network indicators. However, there remains a sliver of doubt related to potential risks. Meanwhile, cryptocurrency projects such as Solana and destinations such as GameFi continue to show strong growth, strengthening their position in the market. https://preview.redd.it/ub3a3ukeqfgd1.png?width=1200&format=png&auto=webp&s=4559610703518032e1bf79292fd493916eba0cda submitted by /u/Lor1al [link] [comments]