The largest event in the cryptocurrency calendar is almost upon us, with the Bitcoin block reward halving being just one week away, here is what the experts have to say about its perceived impact on price action. According to Simon Peters, analyst at investment platform eToro, the halving could not only see the price of bitcoin rise, as it has done following previous halvings, but it could also result in a whole new brand of crypto investors. Peters explains: “During and after the first halving in 2012, the key investors were those already involved in the asset class. The bitcoin investor base was almost exclusively made up of those in the know; blockchain scientists and data programmers as well as...
(Bloomberg) -- Hertz Global Holdings Inc. got an eleventh-hour reprieve from a potential bankruptcy from its lenders, who gave the struggling rental-car company more time to work out a rescue plan after it missed a debt payment.The forbearances and waivers give Hertz until May 22 to “develop a financing strategy and structure that better reflects the economic impact of the Covid-19 global pandemic,” the company said in a regulatory filing. Hertz shares, which had plummeted as much as 36% before the start of regular trading, were down 13% as of 9:56 a.m. Tuesday in New York.Hertz had been talking with some of its creditors about how to ease its burden without going through bankruptcy, though the company was preparing to file for Chapter 11 court protection if needed, according to people with knowledge of the matter. They asked for anonymity to discuss the confidential talks. The company expanded its roster of...
After a month of rising stock markets, which have seen the S&P 500 gain 14%, there is a hope that the economic contraction will be shorter than was initially feared. As the Trump administration has begun setting guidelines for reopening economic activity, and at the State level some governors are planning to reopen while others tighten social distancing restrictions, some market strategist are openly saying that the worst is now behind us.Chiming in from Ned Davis Research, chief US strategist Ed Clissold has revised the cautious stance he set early in March. Noting, “The market tends to lead the economy,” Clissold goes on to say, “An average of four months before the end of recessions is when the S&P 500 bottoms. So, if you look out a few months and think things will be getting a little bit better, stocks should anticipate that.”Assuming that the S&P’s March 23 reading of 2,237...
