updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131The shares of the London Stock Exchange were up by about 4% on Monday, showing investors a positive disposition to the Microsoft partnership.
American multinational tech giant, Microsoft Corporation (NASDAQ: MSFT) has agreed to purchase as much as a 4% stake in the London Stock Exchange Group (LSEG). As reported by CNBC, the deal now involves a 10-year partnership that will see the LSEG migrate its data and analytics needs to the Microsoft Azure Cloud.
The linkage between the Microsoft Corporation and the London Stock Exchange Group will go beyond just investment and ownership stake and extend to next-generation analytics and the release of innovative cloud computing solutions. As the London-based firm shared in its announcement, the deal will see a new data infrastructure built and the introduction of analytics and modeling solutions with Azure, and Microsoft Teams amongst others.
The 4% stake that Microsoft Corporation will take up will be secured from the Blackstone or Thomson Reuters Consortium. With the partnership, the LSEG is set to spend as much as $2.8 billion on Cloud products over the next 10 years, an amount it said is consistent with its long-term spending plans.
“This strategic partnership is a significant milestone on LSEG’s journey towards becoming the leading global financial markets infrastructure and data business, and will transform the experience for our customers,” David Schwimmer, CEO of LSEG, said in the statement.
As a minority owner of the LSEG, the partnership will see the appointment of Scott Guthrie, Microsoft’s executive vice president for the Cloud and AI Group as a non-Executive Director of the London-based stock exchange operator.
The need for Artificial Intelligence and Cloud-based innovations in businesses cannot be overemphasized and as such, justifies the partnership between both companies. According to Microsoft’s Chief Executive Officer and Chairman, Satya Nadella;
“Advances in the cloud and AI will fundamentally transform how financial institutions research, interact, and transact across asset classes, and adapt to changing market conditions.”
As a platform that is constantly in need of data, LSEG cannot do without cloud infrastructures and other financial and business data to enable it to operate efficiently.
Prior to its deal with Microsoft, the LSEG reached an agreement in 2019 to buy financial information from Refinitiv at a total package of $27 billion. This bogus amount shows how well the stock exchange was willing to go to gain access to data to serve its own clients.
The Microsoft offering appears to come cheap and both firms will be working to float other new collaborative tools. Besides, LSEG will be incorporating Microsoft Azure Cloud as the major substrate for its Workspace, a data analytics platform it developed. The duo will also be advancing this Workspace tool and integrating it with Microsoft Teams in other to give it more mainstream access to the large Microsoft community.
The shares of the London Stock Exchange were up by about 4% on Monday, showing investors a positive disposition to the Microsoft partnership.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
After a volatile first half, Bitcoin price action has been grinding sideways, seeking to find some type of reliable support. Although there has yet to be a clear sign of a reversal, the top cryptocurrency by market cap might have finally found support at a ten-year-long trend line.
Technical analysis is the study of chart patterns, trading indicators, Japanese candlesticks, and other data points in an attempt to predict future price action. The very basis of most technical drawings and chart patterns begins with a simple trend line.
And while it isn’t uncommon to see analysts with a kitchen-sink worth of technical tools turned on, sometimes less is more when it comes to getting a good read on the market.
Using only one trend line, it is easy to see why Bitcoin price might have finally found some support. With nothing more than the trend line to go by, buying low and selling high has historically yielded miraculous results.
Will this nearly ten year long trend line hold? | Source: BTCUSD on TradingView.com
Bitcoin price first claimed the trend line in April 2013, just as Mt. Gox took its exchange offline to give the market time to “cooldown.” From there, each subsequent bear market in Bitcoin returned to the same trend line drawn in red.
The trend line was touched in early 2015, and again in 2016 prior to the legendary 2017 Bitcoin bull run. Although the 2018 bear market found support before it ever reached the trend line, the March 2020 Black Thursday collapse took Bitcoin price precisely to the same trend line that is still holding today.
Fast forward to June 2022 and BTC once again touched down on this trend line. July once again tapped the line, yet held strong for a second month in a row. Thus far, August hasn’t made an attempt to try again, and after two failed attempts to break below in a row, it might be time for bulls to rally.
Past rallies from the trend line have resulted in 2,200% ROI, 9,700% ROI, and 1,500% ROI, respectively. Losing it could be catastrophic for crypto, so it is worth paying attention to, as simple as it may seem to the naked eye. Will this decade-long trend line produce a rally, or will it finally be lost?
Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice.
Featured image from iStockPhoto, Charts from TradingView.com
The masses are bearish on Bitcoin. The market is convinced that prices below $30,000 will be revisited given the continued weakness in the top cryptocurrency by market cap. All eyes are on the massive “bear flag,” but could it instead be a bear trap?
Bitcoin price continues to grind along a decade long parabolic trend line that in the past has put in several mid- to long-term bottoms. Here is a closer look at a currently unbroken trend line that BTCUSD must hold for continued parabolic momentum and what it could mean if we get a bounce from here.
If you ask around, most people will explain with certainty the several reasons they have for why Bitcoin is destined for sub-$30,000. Meanwhile, the price per BTC is grinding along a parabolic support line that over the last decade has proven to put in bottom after bottom.
Related Reading | Bitcoin Bear Market Comparison Says It Is Almost Time For Bull Season
The cryptocurrency became a household name in late 2017 due to its parabolic rally that eventually broke down and took the price per cryptocurrency back to $3,200. The retest of that level on Black Thursday only added to the base-building in the chart below.
Attention, base 4. Are we cleared for liftoff? | Source: BTCUSD on TradingView.com
Comparing the curved, decade-long trend line with the parabolic curve pattern pictured above, there is a chance base 4 is in the process of being built. Between base 3 and base 4, the parabolic asset – BTC in this case – doubles in value in a very short time.
From late 2020 to April 2021, Bitcoin price grew over six to twelve times in value during what would have been the run up from base 3 to base 4. According to this diagram, base 4 is also quite steep, allowing price to climb dramatically higher. The only problem is, this final base, if valid, suggests the end is near for this decade-long bull trend line.
With a parabolic trend line violated, the top cryptocurrency by market cap could plunge as much as 80% from whatever highs are set. Past bear markets have resulted in more than 84% declines from top to bottom. Parabolic rallies also tend to break down faster than it took to climb – similar to a rollercoaster’s anxiety-inducing ascent, followed by a speedy plunge and the ride is over until you decide to get on once again.
“Bulls take the stairs, bears take the elevator”
On-chain signals support a bottom at this level | Source: Glassnode
On-chain signals, like entity-adjusted dormancy flow exhibit similar signs of accumulation going on as other moments Bitcoin put in a significant bottom. Several of these on-chain bottoms arrived precisely as the price per BTC touched down on the parabolic trend line.
Related Reading | Crypto Mimics Textbook Market Sentiment Cycle, What Happens When Confidence Returns?
Could this be a mere coincidence, or is there more validity that this parabolic trend line holds, a new base is build, and the final phase of the Bitcoin rally begins?
Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice.
Featured image from iStockPhoto, Charts from TradingView.com