EUR/USD 1.18729
-0.060%
Gold 5066.63
1.123%
Oil 60.131
-0.999%
USD/JPY 154.598
0.251%
GBP/USD 1.36745
-0.024%
GBP/JPY 211.411
0.239%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On January 27th, the Zhejiang Provincial Department of Culture and Tourism issued a document to support large-scale commercial performances such as concerts and music festivals held in Zhejiang Province, and to encourage performances to have their only national stop, premiere in Zhejiang, or begin their tour in Zhejiang. The document provides subsidies for eligible performance projects. On January 27th, a staff member from the Zhejiang Provincial Department of Culture and Tourism stated that, according to the document, eligible performance companies will receive subsidies ranging from 200,000 to 1 million yuan. Companies within the province, except for those in Ningbo, are eligible to apply.January 27th - The Fourth Session of the 14th Qinghai Provincial Peoples Congress convened today in Xining, with Qinghai Governor Luo Dongchuan delivering the government work report. The report outlines the main expected targets for Qinghais development in 2026 as follows: GDP growth of around 4.5%, striving for even better results; over 60,000 new urban jobs, over 1.06 million rural laborers transferred to other jobs, and an urban surveyed unemployment rate of around 5.5%; a consumer price index increase of around 2%; per capita disposable income growth in line with economic growth; total grain output maintained above 1.1 million tons; water quality of the main streams of the Yangtze, Yellow, and Lancang Rivers within Qinghai Province consistently maintained at Class I or above; air quality ranking among the best in the country; and achieving the national targets for carbon emission control and major pollutant reduction.On January 27th, Hong Kong stocks opened higher across the board, with the Hang Seng Index rising as much as 1.6%. At midday close, the Hang Seng Index stood up 1.07%, returning to the 27,000-point mark; the Hang Seng Tech Index rose 0.2%. Heavyweight tech stocks showed mixed performance, with Bilibili (09626.HK) surging over 5%, Alibaba (09988.HK) rising 2.18%, while JD.com (09618.HK), NetEase (09999.HK), and Tencent Music (01698.HK) fell over 1%. Gold stocks continued to rise, with Zijin Mining (02899.HK) up over 4% and Zijin Gold International (02259.HK) up over 10%, both hitting record highs. Insurance and banking stocks were also active. Meanwhile, steel, nuclear power, water, and coal stocks were mostly weak.The yield on Japans 30-year government bonds rose 3.5 basis points to 3.655%.Indian Oil Corporation executives said the company will source 50% of its oil through long-term contracts in fiscal year 2027.

Bitcoin More Likely to Crash to $10K Than Hit $30K: Market Survey

Jimmy Khan

Jul 11, 2022 14:57

微信截图_20220711144911.png


Bloomberg's most recent Markets Live (MLIV Pulse) weekly poll measures investor mood. According to information published on July 11, the study questioned 950 investors last week about their predictions for whether Bitcoin will rise again or continue to fall.


The findings were unambiguous: 60% of respondents believed that the asset was more likely to continue to decline and hit $10,000 than to rise to $30,000.


The source said that "the lopsided projection highlights how gloomy investors have grown."


Even if a small sample of investors cannot be used to draw firm conclusions, it does provide a glimpse of investor sentiment, which is still overwhelmingly negative.


Only 40% of people predicted that Bitcoin would surpass $30,000 before it reached $10,000. The asset lost ground over the weekend after sliding near support at $20,000 during the Asian trading session on Monday morning.

Fear among Retail Investors

The research also noted that individual investors were more wary than institutional investors. Nearly 25% of those polled said digital assets were "trash," yet a comparable percentage believed they represented the future of banking.


Nearly a third of institutional investors said they were cautious but maintained an open mind, and 26% said they were confidence in the asset class despite the state of the markets.


Jared Madfes, a partner at venture capital company Tribe Capital, told the publication that there wasn't simply anxiety in the cryptocurrency markets. He said, "It's really simple to be frightened right now, not just in crypto but generally in the globe," before claiming that the poll findings and forecasts of more losses reflect "people's natural dread in the market."


On Monday morning, the "fear and greed" index for the mood toward bitcoin indicated a level of "severe fear" or 22 out of 100. This condition has existed for more than a month.


Since reaching a record of over $69,000 in November, bitcoin values have fallen by almost 70%. However, the asset has been consolidating for almost three weeks at the present price levels, where things seem to have steadied.

Future Price of Bitcoin

At the time of writing, BTC was down 4.1 percent over the previous 24 hours and was trading at $20,564. On Saturday, it rose to a weekend high of $21,871, but it has been unable to hold onto those gains.


Should the asset fail to hold the $20K mark, which seems probable at the time, there is support slightly over $19,000. If past bear markets are any indication, this one might see prices drop by more than 82 percent, verifying the forecasts of the study and returning to the $12K level.


Suggestion