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Epam Systems Plays The Long Game

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Epam Systems – The IT outsourcing firm and Long-Term Leader is holding up well. RS line right at highs.

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  • Coinbase Hangover Rattles Crypto Assets With Bitcoin in Freefall

    (Bloomberg) -- The mania that drove crypto assets to records as Coinbase Global Inc. went public last went turned on itself on the weekend, sending Bitcoin tumbling the most since February.The world’s biggest cryptocurrency plunged as much as 15% just days after reaching a record. It was lower by 9% to $55,323 at 10:18 a.m. in New York. Ether, the second-biggest, dropped as much as 18% to below $2,000 before paring losses. Binance Coin, XRP and Cardano each lost more than 12%. Dogecoin, the token started as a joke, was the only gainer among the 10 largest coins.The weekend carnage came after a heady week for the industry that saw the value of of all coins surge past $2.25 trillion amid a frenzy of demand for all things crypto in the runup to Coinbase’s direct listing on Wednesday. The largest U.S. crypto exchange ended the week valued at $68 billion, more than the owner of the New York Stock Exchange.“With hindsight it was inevitable,” Galaxy Digital founder Michael Novogratz said in a tweet Sunday. “Markets got too excited around $Coin direct listing. Basis blowing out, coins like $BSV, $XRP and $DOGE pumping. All were signs that the market got too one way.”Dogecoin, which has limited use and no fundamentals, rallied last week to be worth more than $50 billion at one point before stumbling Saturday. Demand was so brisk for the token that investors trying to trade it on Robinhood crashed the site a few times Friday, the online exchange said in a blog post.There was also speculation Sunday in several online reports that the plunge was related to concerns the U.S. Treasury may crack down on money laundering that’s carried out through digital assets.“The crypto world is waking up with a bit of a sore head today,” said Antoni Trenchev, co-founder of crypto lender Nexo. “Dogecoin’s 100% Friday rally was ‘peak party,’ after the Bitcoin record and Coinbase listing earlier in the week. Euphoria was in the air. And usually in the crypto world, there’s a price to pay when that happens.”Besides the “unsubstantiated” report of a U.S. Treasury crackdown, Trenchev said factors for the declines may have included “excess leverage, Coinbase insiders dumping equity after the direct listing and a mass outage in China’s Xinjiang province hitting Bitcoin miners.”Growing mainstream acceptance of cryptocurrencies has spurred Bitcoin’s rally, as well as lifting other tokens to record highs. Interest in crypto went on the rise again after companies from PayPal to Square started enabling transactions in Bitcoin on their systems, and Wall Street firms like Morgan Stanley began providing access to the tokens to some of the wealthiest clients. That’s despite lingering concerns over their volatility and usefulness as a method of payment.Governments are inspecting risks around the sector more closely as the investor base widens.Federal Reserve Chairman Jerome Powell last week said Bitcoin “is a little bit like gold” in that it’s more a vehicle for speculation than making payments. European Central Bank President Christine Lagarde in January took aim at Bitcoin’s role in facilitating criminal activity, saying the cryptocurrency has been enabling “funny business.”Turkey’s central bank banned the use of cryptocurrencies as a form of payment from April 30, saying the level of anonymity behind the digital tokens brings the risk of “non-recoverable” losses. India will propose a law that bans cryptocurrencies and fines anyone trading or holding such assets, Reuters reported in March, citing an unidentified senior government official with direct knowledge of the plan.Crypto firms are beefing up their top ranks to shape the emerging regulatory environment and tackle lingering skepticism about digital tokens. Bitcoin’s most ardent proponents see it as a modern-day store of value and inflation hedge, while others fear a speculative bubble is building.(Updates prices and context on other cryptocurrencies from 2nd paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Morgan Stanley’s Record Quarter Stained by Archegos Collapse

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  • Ripple Could Climb Even Further After Stunning Comeback

    Back in December, Ripple (CCC:XRP-USD) was caught in the crosshairs of securities regulators. The price of its XRP token fell below 25 cents. It remained weak, as major exchanges like Coinbase (NASDAQ:COIN) took it off their platforms. After that, it seemed things would get only worse for this popular altcoin. Source: Shutterstock But now, things have changed dramatically. Instead of getting destroyed by the Securities and Exchange Commission (SEC), it’s beating them in court. The case may still be hanging over its head. Yet, as seen the crypto’s parabolic move from around 45 cents, to around $1.68, in the past month, if confidence continues to run high it’ll soon be out of the woods. With this triple-digit percentage price move, is it too late to get in? Not necessarily. Assuming it continues to win in court, the price of Ripple’s token should continue to trend higher. In addition, with major cryptos like Bitcoin (CCC:BTC-USD) still making new highs, and even “memecoins” like Dogecoin (CCC:DOGE-USD) proving skeptics (like myself) wrong, overall short-term crypto mania may be sufficient to support additional upward price moves.InvestorPlace - Stock Market News, Stock Advice & Trading Tips 10 Stocks to Buy for Your $5K Robinhood Portfolio Now, as is the case with this asset class in general, risk runs high. And, in the case of this crypto, not only is there risk of an overall market crash hanging over it. If its current success in court runs out, that could result in a drastic downward move in prices. XRP is Back With a Vengeance A few months back, the SEC seemingly had caught Ripple red-handed. Unlike other popular cryptos, the centralized nature of XRP made it vulnerable to allegations that it was an “unregistered security,” rather than a cryptocurrency. Yet, so far, the SEC doesn’t seem to have much of a case. How so? Namely, as InvestorPlace’s Dana Blakenhorn broke down on April 8, it all comes down to what comes out during the “discovery” process. If Ripple can prove that at one point the SEC regarded Ripple as a currency rather than a security, there may be grounds for dismissing the case. Yet, that’s not the only way in which Ripple is beating regulators. Other decisions from Judge Sarah Netburn have also been in the defendant’s favor. Again, its not guaranteed that XRP will soon be in the clear. But, as more information comes out, more of it indicates the prosecution is in over its head. With things moving in its favor, XRP will likely continue to rebound with a vengeance. But, that’s not all. Besides its apparent victory in the courts, it has the overall bullishness for crypto working in its favor. Together, both factors could mean higher prices ahead. Crypto Mania Could Give XRP an Additional Boost As I said above, cryptos large and small are still flying high. With speculators diving into Bitcoin, Ethereum (CCC:ETH-USD), and yes, even into meme cryptos like Dogecoin, this asset class overall could continue to move higher. So, what does that mean for XRP? Market bullishness could help it continue its climb. Now, that doesn’t mean we’ll see Ripple go on a tear similar to Dogecoin’s recent stunning surge. Why not? Remember, following its Coinbase suspension XRP isn’t as widely available for trading. Yet, it may be enough to sustain its momentum, once markets fully absorb its recent success in court. That being said, don’t bet the ranch on this becoming a major winner in the long-term. Near-term, I wouldn’t bet against. But, there’s little to indicate that XRP is going to supplant ETH as the number two crypto by market capitalization. This is mainly due to the fact that Ripple hasn’t been a major crypto held by the “smart money,” or institutional investors. It has been, and continues to be, primarily a crypto held by retail investors. This likely won’t change, even if it manages to get out of current legal troubles, and begin refurbishing its tarnished reputation. Exercise Some Caution, But Ripple Has Runway from Here The “another day, another all-time high” environment we’re now seeing with cryptos makes it seem like dabbling in this space is easy money. But, the risk of an overall “crypto crash,” like the one seen a few years back, remains high. Tread carefully with any play in this asset class. In addition, while as of late it’s beaten the SEC in the courts, things could go south at any moment. But, even with risks in mind, a small, speculative position in Ripple may be worth it at today’s prices. On the date of publication, Thomas Niel held a long position in Bitcoin. He did not hold (either directly or indirectly) any other positions in the securities mentioned in this article. Thomas Niel, a contributor to InvestorPlace, has written single stock analysis since 2016. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG It doesn’t matter if you have $500 in savings or $5 million. Do this now. Top Stock Picker Reveals His Next Potential 500% Winner Stock Prodigy Who Found NIO at $2… Says Buy THIS Now The post Ripple Could Climb Even Further After Stunning Comeback appeared first on InvestorPlace.

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The main factors that give any cryptocurrency its value are: Coin utility; Scarcity; Perceived project value; Transportability; Durability; and Ability to serve as a store of value and unit of exchange. The main question to answer now is whether Dogecoin has any of these mentioned factors to have any value 10 Stocks at the Heart of Good Retirement Portfolios The answer is it only has transportability. One person can send it to another through the internet. But this isn’t enough to have any value at all. It has no utility at all. It does not have any scarcity as there is no limit on the mining of Dogecoin. And the perceived value of the project is based on its ” fun factor,” which does not a solid investment make. Dogecoin: Fun Is A Reason to Speculate, Not Invest The official Dogecoin webpage bears the following statement: “THE FUN AND FRIENDLY INTERNET CURRENCY. Dogecoin sets itself apart from other digital currencies with an amazing, vibrant community made up of friendly folks just like you.” Then there’s a video that claims it is a revolutionary digital currency. DOGE is now accepted at online retailers to buy groceries or gifts. And online creators can make cash by receiving Dogecoin from their fans, instead of likes that add no monetary value. Social Media Use and Social Media Trolls The Dogecoin community is an active one and in the past, it has funded Olympic Athletes and contributed to charities. The “troll currency” Dogecoin, which started with memes and sending Jamaica to the Winter Olympics, has recently reached the top 10 cryptocurrencies by market capitalization. And the internet has gone wild ever since. But should you invest in this digital currency? One of the founders of Dogecoin, Billy Markus, has himself told the Wall Street Journal that he created the asset entirely “for fun.” Online fundraising for charities, donations and other causes has value, but that doesn’t make Dogecoin a valuable investment at all. The currency was based on open-source Litecoin (CCC:LTC-USD) and unlike Bitcoin (CCC:BTC-USD), has no limit on the number of “coins” that can be produced in the system. So while Bitcoin is designed to be deflationary, Doge does not follow the same logic, as this wasn’t a concern for its creators. Why Dogecoin Is Moving Wildly Occasionally Lately, Elon Musk has also taken a stand on meme coin via his Twitter (NYSE:TWTR) posts. As in the case of GameStop (NYSE:GME), Reddit has also done its bit to skyrocket the value of the “Shiba currency,” with cryptocurrency communities setting their sights on taking it to 10 cents. They have since eclipsed that goal. But is the Dogecoin frenzy a reason to invest? Of course, the impetus was again provided by Musk on April 10, when he described the token as “…going to the moon very soon.” In February he described Dogecoin as the “people’s cryptocurrency”, and the rest is history. With each of Musk’s tweets, after all, Doge was going up 20%. The idea of investing in Dogecoin is too risky for any sophisticated investor. And this insanity is reinforced by what people are searching on Google (NASDAQ:GOOG). Two of the most popular questions: Will Dogecoin reach $1? Will Dogecoin make me rich? Dogecoin Verdict If you think investing should be fun and aren’t worried about potential returns, then you may consider Dogecoin an interesting, speculative game. But the word to focus on is game. Dogecoin has no intrinsic value, its price is very easily manipulated and being another “meme” investment, it is subject to great volatility. I do not know if DOGE-USD will ever reach $1. But the truth is, I don’t care and it doesn’t matter. Who wants to invest in an asset without any fundamentals t0 support it? Dogecoin is the definition of an epic bubble, so it is completely off my list. No second thoughts about it. On the date of publication, Stavros Georgiadis, CFA, did not have (either directly or indirectly) any positions in the securities mentioned in this article. Stavros Georgiadis is a CFA charter holder, an Equity Research Analyst, and an Economist. He focuses on U.S. stocks and has his own stock market blog at thestockmarketontheinternet.com. He has written in the past various articles for other publications and can be reached on Twitter and on LinkedIn. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG It doesn’t matter if you have $500 in savings or $5 million. Do this now. Top Stock Picker Reveals His Next Potential 500% Winner Stock Prodigy Who Found NIO at $2… Says Buy THIS Now The post Dogecoin Is the Poster Child for an Epic Financial Bubble appeared first on InvestorPlace.

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