Bitcoin Price Reaches Uncharted Seas
Apple’s Race To Become A $1 trillion Company
Spain Crisis Pressures EU Markets
Mon, October 30: In Today’s Markets…
1. Bitcoin Price Reaches Uncharted Seas
Bitcoin started the week above the $6K mark after recording an all-time high of 6,285 on Sunday. Currently, bitcoin’s market value is hovering in the $6K range after meeting some resistance above $5,950. It should be noted that most altcoin markets are also edging higher, but bitcoin’s dominance is capturing a 57 percent share out of the entire cryptocurrency market cap.*
2. Apple’s Race To Become A $1 trillion Company
As consumers wait patiently to receive their new iPhone X for more than $1,000, Apple is rising steadily while the time nears when the company will make its case to Wall Street that it can be a $1 trillion company. The tech giant’s future depends on the success of its newest iPhone. Apple in its last fiscal quarter signaled that it might have a better-than-expected third quarter, something which caused a significant spike in Apple’s stock price. On the year, the company has been on quite a run, having added more than 40%. Apple Inc’s Q3 earnings are due November 2nd before the Wall-Street bell and are expected to affect the price of APPL shares**
3. Spain Crisis Pressures EU Markets
European stocks opened lower on Monday morning as investors monitor corporate earnings, with major indices like Germany’s DAX (GER_T30), UK’s FTSE 100 (GBR_100), France’s CAC 40 (FRA_40) and Europe’s Euro Stoxx 50 (EUR_50) edging lower across the charts. The euro inched 0.1 percent higher today after plummeting to a three-month low on Friday. The EUR was pressured by a crisis in Catalonia which demanded its independence from Spain. It should be noted that on Saturday, sacked Catalonian president Carles Puigdemont called for peaceful “democratic opposition” to the central government of Spain which has forcefully taken over the region following its unilateral declaration of independence.
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*Source: Bloomberg
**Source: CNBC
