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 trio of the Federal Reserve, the Treasury Department, and the Federal Deposit Insurance Corporation (FDIC) have been pledging support to depositors.
Analysts at American banking giant JPMorgan Chase & Co (NYSE: JPM) believe the Federal Reserve will inject massive liquidity into the banking ecosystem to help cushion the current crisis in the industry. The strategists, led by Nikolaos Panigirtzoglou said the funds that will be injected into the system could be as high as $2 trillion.
“The usage of the Fed’s Bank Term Funding Program is likely to be big,” the strategists said in a client note on Wednesday. According to them, while “the largest banks are unlikely to tap the program, the maximum usage envisaged for the facility is close to $2 trillion, which is the par amount of bonds held by US banks outside the five biggest.”
The implosion of Silvergate Bank, Signature Bank, and the much bigger Silicon Valley Bank (SVB) has had many experts question the Federal Reserve’s quantitative tightening in its frantic efforts to fight off inflation. The repercussions of the banking liquidity crisis have stirred a massive plunge in the Treasury 2-year yields which fell by 60 basis points this week.
This yield slump was also impacted by the sentiment that the US Federal Reserve Open Market Committee (FOMC) will skip its regular interest rate hikes this coming week when it concludes its next policy meeting. Experts have hinted that skipping the interest rate hike will be good to stabilize the banking industry at this time when it remains unclear how many more firms could be headed for another bank run.
According to JPMorgan strategists, despite the designated funds for the Bank Term Funding Program (BTFP), the Fed still has about $3 trillion in the US banking ecosystem. The majority of these funds, they note are owned by the top 5 banks.
Many did not foresee the collapse of the Silicon Valley Bank and it shows how frail the banking system in the United States, and around the world can be. For what its worth, regulators and lawmakers have made an attempt to blame digital currencies for the woes of the current mishaps in the financial ecosystem, a move that forced regulators to close Signature Bank.
With all that has happened, the trio of the Federal Reserve, the Treasury Department, and the Federal Deposit Insurance Corporation (FDIC) have been pledging support to depositors. This is one crucial attempt to fund stability in the banking system as a restoration of trust among depositors with respect to the safety of their funds can largely prevent future bank runs.
While the BTFP is also designed to provide emergency funding to banks that needed it, it can notably be complemented by a more dovish approach and Fed regular prop of the financial ecosystem. Though this prop-up has been tagged as a bailout by many experts, for those in the crypto world, it is considered a move that can trigger the next phase of the bull market.
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.
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A pair of popular crypto strategists think that top meme coin Dogecoin (DOGE) could be gearing up for a big breakout.
Pseudonymous analyst Rekt tells their 333,800 Twitter followers that the Shiba Inu (SHIB) rival is testing the diagonal resistance of a bullish reversal structure on the weekly chart.
“DOGE is now testing the top of the falling wedge, trying to challenge for a breakout.”
Looking at the trader’s chart, it appears that Dogecoin must take out its resistance at $0.090 to trigger a breakout rally.
Another crypto strategist also believes that a breakout could be in the works for Dogecoin. Pseudonymous analyst Rager tells their 203,300 Twitter followers that DOGE is testing the upper bound of his accumulation range.
“One chart I’m watching and have slowly accumulated. Just like the current setup and don’t like being late.
DOGE had a great reaction. Nice move up, but the Bitcoin pullback has it back prior to breakout.
Will watch patiently here, if BTC moves back up.”
Based on the trader’s chart, Dogecoin is now trading above an accumulation zone, with DOGE switching hands at $0.089. The ninth-largest crypto asset is up about 26% this year. However, it remains down over 87% from its all-time high, which it hit in May 2021.
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Apple stock has declined approximately 26 percent and 13 percent in the past twelve months and three months respectively.
Apple Inc (NASDAQ: AAPL) shares closed Tuesday, December 27, trading at $130.03, down 1.39 percent from the day’s opening price. The decline continued during the after-hours, whereby AAPL shares exchanged about $129.50 as of December 27, 2022, 7:59 p.m. EST. The latest decline has increased the possibility of Apple shares getting trapped in a fresh multi-week bear market next year. Moreover, iPhone production in Apple’s China plant has been halted, particularly during the end-of-year festivals.
JPMorgan analyst Samik Chatterjee highlighted that the latest iPhone shipment data out of China “confirm industry headwinds.”
Nonetheless, the tech stock market performed dismally on Tuesday with the Nasdaq Composite and the S&P 500 declining 1.38% and 0.40% respectively.
According to market data from MarketWatch, Apple’s stock market has declined approximately 26 percent and 13 percent in the past twelve months and three months respectively.
The $2.1 trillion valued company continues to largely dominate the global tech industry as shown by its quarterly earnings report. During the fiscal 2022 fourth quarter that ended on September 24, 2022, Apple reported revenue of $90.1 billion, up 8 percent year over year. Additionally, the tech company recorded quarterly earnings per diluted share of $1.29, up 4 percent year over year.
“Our record September quarter results continue to demonstrate our ability to execute effectively despite a challenging and volatile macroeconomic backdrop,” said Luca Maestri, Apple’s CFO. “We continued to invest in our long-term growth plans, generated over $24 billion in operating cash flow, and returned over $29 billion to our shareholders during the quarter…”
In a bid to expand its earnings in the future, the company is exploring the 3D mixed reality market and also allowing third-party app stores. Reportedly, Apple is likely to unveil its augmented-reality/virtual-reality glasses in 2023 through an OS dubbed xrOS.
The company will be competing with the likes of Meta Platforms Inc (NASDAQ: META) and Microsoft in the AR/VR industry. Nonetheless, the AR/VR market is expected to grow exponentially with the metaverse industry indicating immense potential growth in coming years.
Moreover, play-to-earn (P2E) through DeFi has led the cryptocurrency and blockchain market for the past two years.
Meanwhile, Apple investors are looking into a gloomy 2023 following a poor performance in 2022. Notably, Apple shares are likely to revisit 2020 lows – from a technical standpoint- before rebounding to new ATH.
According to a study by MarketWatch, 42 ratings gave Apple shares an average target price of $173.4 and an average recommendation of Overweight.
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AAPL shares have traded sideways since hitting an ATH of $182.94 earlier this year.
Apple Inc (NASDAQ: AAPL) shares closed Monday trading at $144.22, 2.63 percent lower from the day’s opening price. While the bleeding has stopped in the after-hours trading session, market strategists forecast more decline in the near future as production in Foxconn Technology Group – the Taiwanese company that operates Apple crucial products – remains hampered by the protests against Covid restrictions. As such, Apple and Foxconn anticipate making up for the 6 million iPhone units in 2023.
The supply shortfall has significantly affected Apple customers in the pipeline of receiving the latest device, the iPhone 14 Pro. Moreover, United States Apple customers wait about 33 days to receive their iPhone 14 Pro and Pro Max models. Mind you, in-store pickups for the latest devices are reportedly unavailable.
“The ongoing challenges around delays in returning to a normal production level at the Zhengzhou facility could limit the pace with which supply-demand equilibrium can be reached in the coming months,” JPMorgan analysts said.
Notably, Wedbush Securities analysts estimated that the production halt could affect 5-10 percent of iPhone units in the current quarter. Should the production slowdowns sustain until December, KGI Securities analyst Christine Wang estimated that the figure could come in at around 10 million iPhone units, hereby representing 12 percent.
AAPL shares have traded sideways since hitting an ATH of $182.94 earlier this year. As a technology company, market strategists are optimistic the company will outperform in the coming quarters. According to a survey conducted by MarketWatch, 43 ratings have given AAPL shares an average target price of $175.69 and an average recommendation of Overweight.
During the fourth quarter, which ended on September 24, the company demonstrated its tech dominance with a healthy balance sheet.
Luca Maestri, Apple’s CFO, said:
“We continued to invest in our long-term growth plans, generated over $24 billion in operating cash flow, and returned over $29 billion to our shareholders during the quarter …. This quarter capped another record-breaking year for Apple, with revenue growing over $28 billion and operating cash flow up $18 billion versus last year.”
Despite the global geopolitical differences and unpredictable macroeconomic factors, Apple has demonstrated the resilience acquired over decades of existence. According to market data from MarketWatch, Apple has a market capitalization of approximately $2.36 trillion. In other words, Apple’s market cap is three times that of the cryptocurrency market.
The tech company has continued to widen its market scope to increase revenue collection. Moreover, Apple’s competitors are hard at work developing more cutting-edge technology with market demand and affordable prices.
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