Bitcoin has been making headlines since the beginning of this ongoing rally from October 2020, when the bellwether of the crypto world was trading just around US$11,000. Last year Bitcoin ended the fourth quarter of 2020 with a hefty gain of around 170 per cent to around US$29,000, after which it only took a week to surpass the US$40,000 mark.There have been several reasons that have worked as a catalyst for the rally.The recent push to the record high has been fueled by the optimism in the financial markets after US President Joe Biden signed a massive US$1.9 trillion economic relief package, the first of his regime. The stimulus fueled rally has prompted investors to throw caution out of the window as even at these high levels, the demand does not seem to be getting subdued. Whats your thought on recent bitcoin turbulence
Crude oil sank significantly in the past as the global demand took a jab from the gloomy economic conditions, which in turn has impacted the ASX-listed energy stocks. Despite the production cut from the OPEC and Russia, the crude oil nosedived as the global demand remained capped over the slower growth projections and high probability of global economy going into recession amid the prolonged impact of the U.S-China trade tussle, which in turn, kept a lid on the ASX-listed energy stocks. Will the future change in August could bring some good news to the ASX-listed energy players.
No matter where you invest whether in penny stocks or lithium stocks or anywhere else it is required that you must do complete research about the company you are investing in. Stay updated reading latest stock market news and discussion on various stock market forums.