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Bitcoin Rockets Above $18k

By London Capital GroupMarket OverviewNov 18, 2020 07:30
Bitcoin Rockets Above $18k
By London Capital Group   |  Nov 18, 2020 07:30
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  • Bitcoin crossed the $18,000 mark overnight. Asia-Pacific markets were mixed in early Wednesday trade. Meanwhile, the U.S. dollar continued its slide;
  • Ant Group is still capable of clinching the world’s largest IPO — even as Chinese regulatory hurdles weigh heavily on the financial technology giant, says one of the country’s major investors;
  • China de-dollarization accelerates as U.S Treasury holdings near 4-Year lows;
  • Japan reported its exports in October did much better than expected, falling 0.2% as compared to a 4.5% decline forecast in a Reuters poll;
  • Bill Gates says more than 50% of business travel will disappear in post-coronavirus world;
  • Coronavirus latest: China’s Sinovac vaccine triggers ‘quick’ antibody response, study shows;
  • UK Prime Minister Boris Johnson wants a Green Industrial Revolution that bans new petrol cars, adds jobs.

    What else?
  • Europe’s economic recovery will be three times faster than after 2008 crash, Morgan Stanley (NYSE:MS) says;
  • SoftBank CEO warns Of "Lehman-Like-Crisis" that could crash Global Economy;
  • Amazon (NASDAQ:AMZN) launches online pharmacy in challenge to traditional retailers. The news triggered a sharp sell-off in drug stores shares. Walgreen dropped 9.6% and CVS lost 8.6%;
  • Robinhood soliciting advisors for potential IPO early next year;
  • "People Are Afraid" - 300,000 New Yorkers flee City due to COVID-19;
  • BA to launch coronavirus tests on some transatlantic flights.

The Day Ahead

Quote of the day

"To steal ideas from one person is plagiarism; to steal from many is research.” – Steven Wright



U.S. stocks fell on Tuesday as the market’s recent rally cooled off amid a sharp decline in drug store shares and disappointing economic data. The Dow Jones dropped 0.6% while the Nasdaq Composite fell 0.2%. The pan-European Stoxx 600 closed down by around 0.2%, with travel stocks shedding 1.1% to lead the losses. Oil prices were little changed on Tuesday as worries that lockdowns to fight a new surge in coronavirus cases could hit short-term demand counteracted hopes for a vaccine and the possibility of tighter OPEC+ supply policies. The price of bitcoin was up over 4% in the last 24 hours, trading at over $17,000 and hitting its highest point since Jan. 7, 2018.


The U.S Commerce Department said Tuesday that retail sales rose 0.3% last month, missing economists’ forecast for a 0.5% rise. The retail sales control group – which has a larger impact on U.S. GDP – climbed 0.1%, well short of expectations for a 0.5% increase.

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Bitcoin Rockets Above $18k

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Bitcoin Rockets Above $18k

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