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Bitcoin Risks Plunging to $8K as Gold, Stocks Dive on Dollar Rebound




  • Bitcoin, gold, and global stocks fell in sync after a jump in virus cases moved investors to the safety of cash.
  • The sentiment helped the U.S. dollar index recover its losses by another 0.11 percent, bringing its total upside rebound to 1.43 percent.
  • Sebastien Galy, a strategist at Nordea Asset Management, noted the recent pullbacks would do little in harming the prevailing global market rally.

A spike in virus cases in China and the U.S. led investors to offload part of their profitable, risk-on positions for cash this Monday.

The U.S. dollar index, which tracks the greenback’s strength against a basket of foreign currencies, grew stronger by 0.11 percent. It was trading a little above 97.19 at the time of this writing. Meanwhile, it topped near 97.39 in the pre-European trading session.

Macro Collapse

The dollar’s strength sent its quoted assets lower, with global stocks, gold, and bitcoin diving hand-in-hand on Monday.

China’s CSI plunged 1.2 percent while Hong Kong’s Hang Seng index dipped by 2.2 percent. In Japan and South Korea, the benchmark stock markets Topix and Kospi dived dropped 2.5 percent and 4.8 percent, respectively.

The sentiment rippled across the European markets. London’s FTSE reported a 2.2 percent decline in the early morning trade, while Paris’s CAC 40 plunged 2.7 percent. In Frankfurt, the benchmark Dax dived 2.7 percent.

s&p 500, dow, hang seng, nikkei, topix
Global stocks plunged in sync on rising demand for cash. Source: FT

Futures tied to the U.S. benchmark S&P 500, too, fell 2.5 percent, pointing towards a day of red after the New York opening bell Monday.

Meanwhile, spot gold slipped by 1.3 percent to $1,708.11.


A downside move across the macro assets put Bitcoin, an offbeat investment asset, in the same bearish trajectory Monday. The cryptocurrency plunged by 2.17 percent to $9,122 as of 1024 UTC. At its intraday lowest, it was trading at circa $8,895.

bitcoin, btcusd, xbtusd, btcusdt, cryptocurrency, crypto
Bitcoin price chart on showing its Monday plunge. Source:

The crash appeared after a long and sustainable price rally that took bitcoin up by more than 150 percent in just three months. However, a concrete resistance level near $10,000 sent the price lower back into a corrective spree multiple times.

The latest move, however, took Bitcoin below the support of its Ascending Triangle. Breaking below the pattern typically leads an asset lower by as much as the height of the triangle. It stands around $1,800 in the current Bitcoin fractal.

That roughly puts the cryptocurrency en route to $7,547 before it tests another technical support defined by its 200-day moving average (orange). It sits near the $8,000-8,200 range.

On a brighter note, one Wall Street veteran believes that the global market rebound is merely a technical correction. Sebastien Galy, a strategist at Nordea Asset Management, told FT that investors would reenter the market on the next dip.

“Such dislocations are oft an opportunity and we would posit the third wave upward in the equity market partially disconnected from fundamentals and driven by the quantitative easing of central banks,” he said.

The upside mood should reflect on Bitcoin as well, allowing it to retest $10,000 on its next bounce back.


Blockchain News

Mastercard and GrainChain Bring Blockchain Provenance to Commodity Supply Chain in Americas




Payments giant Mastercard has announced a partnership with GrainChain, a blockchain-based supply chain management firm to enhance visibility for producers and consumers in the commodity supply chain in Latin America and North America.

According to the media release shared with on October 29, 2020, the partnership is aimed at empowering suppliers and farmers to protect their brand reputation through adherence to supply chain standards in a bid to create trust with the final consumers.

The supply chain management will be provided by the Mastercard Provenance Solution, and together with GrainChain, trusted end-to-end visibility will be given to products, ranging from coffee to sorghum, from the farmers or producers to the final consumers. This visibility will afford everyone in the supply chain to track each product and authenticate its origin, thus providing room for trust in the industry.

Deborah Barta, Senior Vice President of Innovation and Startup Engagement said:

“The traceability market is a global industry, and the digital identity of products and goods is even more critical today as consumers, brands, and governments demand to know where products and services are from […] With Mastercard Provenance Solution, we’re focused on helping parties benefit from reliable data, which brings efficiencies throughout supply chains, ultimately helping to protect consumers.”

Mastercard’s Provenance Solution is Expanding its Reach in Food and Commodity Tracking

The reach of Mastercard’s blockchain-based Provenance Solution for supply chain management has seen increased use in recent times. Besides its current deployment to track products as a GrainChain partner, the financial giant’s Provenance solution has also been deployed to track the origin of food products for America’s largest food group, in partnership with Envisible.

While Blockchain-based supply chain tools are becoming commonplace in the tracking of products including luxury items as offered by Reebonz, Mastercard hopes its Provenance Solution will find an increased use for other commodities including cosmetics, electronics, logistics, and retail as the firm confirmed in the shared media release. 

Image source: Shutterstock Source: https://Blockchain.News/news/mastercard-and-grainchain-bring-blockchain-provenance-to-american-commodity-supply-chain

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Warhammer Age of Sigmar: Tempestfall Announced for PC VR & Oculus Quest, Arrives 2021




More and more franchises are making their way in the virtual reality (VR) space like Star Wars, The Walking Dead and Game Workshop’s Warhammer. The latter entered the field with Warhammer: Vermintide VR and The Horus Heresy: Betrayal at Calth, and now Carbon Studio has announced Warhammer Age of Sigmar: Tempestfall for next year.

Warhammer Age of Sigmar: Tempestfall

The Warhammer universe has a rich lore for Carbon Studio to take from with the synopsis detailing: “Set in the Age of Sigmar universe, Tempestfall begins following the Necroquake. From the domain of Nagash and across all the Realms, Nighthaunt forces are rising. A specially assembled retinue of Stormcast Eternals embarks on a quest to investigate a new threat to the Mortal Realms. Side by side with these elite soldiers, you must explore the dread-filled realm of Shyish and battle your way through the Nighthaunt in a quest to protect the Forces of Order from a sinister plot.”

With a brief teaser trailer showcasing a couple of locales and one enemy, the studio has said Warhammer Age of Sigmar: Tempestfall will mix melee combat with powerful, motion-based spellcasting, utilising the team’s experience developing The Wizards, which had gesture-based speels.

The world of Tempestfall will take players through cities, prisons, swamps and catacombs, an adventure full of Warhammer lore and secrets, reportedly over seven hours in length. Players will be faced with wraiths, revenants and other dangers in what could be Carbon Studio’s biggest project to date.

Warhammer Age of Sigmar: Tempestfall

You can wishlist Warhammer Age of Sigmar: Tempestfall over on Steam where there’s also a chance to win a T-shirt and poster, with 10 winners being selected.

This isn’t the only Warhammer videogame on the way as Pixel Toys previously unveiled Warhammer 40,000: Battle Sister for Oculus Quest, due before the end of the year.

Warhammer Age of Sigmar: Tempestfall is currently slated for a 2021 launch across PC VR headsets and the Oculus Quest platform. As further details including gameplay, visuals and launch date are released, VRFocus will let you know.


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I Dare You to Ignore This Trend




As I told you on Tuesday, I like to set goals in life. Big and crazy ones.

For example, a few weeks ago, I set the goal to run every street in downtown Nashville and Davidson County, Tennessee.

That’s 2,957.06 miles of running. (Told you I’m crazy.)

Why am I bringing this up now?

Well, as you’ll see in a moment, it has to do with the latest emerging market trend…

And it has to do with your investment goals.

So let’s get to it…

A Journey of a (Few) Thousand Miles

Perhaps you’ve heard the Chinese proverb, “A journey of a thousand miles begins with a single step.”

The same thing goes for my running journey of a few thousand miles.

But to be honest, it’s hard for me to picture reaching my goal. Especially when I look at a map and count up what it’s going to take.

All the red in this chart shows every road I still have to run.

And the tiny handful of green spots represent the roads I’ve run so far.

(Full disclosure: I decided to run every street before I knew how many miles it would entail. So consider me not just crazy, but a little impulsive! But I digress.)

I’m barely 1% of the way to my goal. But I’m not going to quit.

And based on all the emails my readers shared with me over the past week or so, when it comes to reaching your investment and retirement goals, you’re not going to quit either…

Keeping At It

I get it. You feel like you still have so far to go.

Plus, the clock is ticking, so it can feel like the pressure is on.

But you know that you can’t quit. Which brings me to today…

Remember, every big accomplishment starts with taking a small step.

And the fact that you took action — including deciding to read Trend Trader Daily — is a small but meaningful step!

If you keep at it, I know you can accomplish your investment goals, and even exceed them.

Especially if you focus on the right trends.

Like semiconductors…

Down, Down, Everywhere — Except…

Yesterday, the markets suffered their single biggest drop in four months, as coronavirus cases spiked globally, and hopes for additional stimulus evaporated.

Against such a backdrop, most investors forget about seeking opportunity. Instead, they seek shelter.

But don’t join them! Why? Because when a similar type of fear and paranoia gripped the markets in March and April, my fearless readers were presented with a major investment opportunity…

An opportunity to leapfrog closer to their investing goals by almost doubling their money.

And all they had to do was invest in semiconductor stocks.

Keep in mind: I’m not sharing this now to rub it in your face.

To the contrary, I’m sharing it because, today, the investment set-up is even better.

Let me explain…

Buy the Chip Dip (Again)

As I wrote earlier this year, without semiconductors, the most important tech innovations of the future literally can’t happen.

I’m talking about major trends like:

  • Artificial Intelligence, which is expected to be worth almost $120 billion by 2025.
  • The Internet of Things, which is already a $200 billion industry.
  • Driverless cars… 5G networks… and the list goes on and on.

Long story short — because of these trends, annual semiconductor sales are expected to top one trillion units, year-in and year-out.

That’s how I know the slowdown in March promised to be a blip in the long-term growth trend.

Or as I wrote back then, “Covid-19 might impact how we work and live in the future… But one thing it won’t change is our demand for chips.”

As such, this presented a tremendous buying opportunity.

And not just based on the price performance of the iShares PHLX Semiconductor ETF (SOXX) that you saw above…

But based on actual market fundamentals…

I Dare You to Ignore This Trend

To understand what I mean, consider the latest analysis from chip-market insiders:

  • The pure-play foundry market, which makes up to 90% of integrated chips, is on pace for its strongest growth since 2014, according to IC Insights.
  • And global silicon wafer shipments, which are the fundamental building material for chips, are on track for recovery this year and a record high in 2022, according to SEMI.

Here’s the key: it turns out that Covid-19 is actually boosting demand for chips.

Tomorrow, I’ll share more details on why this is so, and more importantly, I’ll share the single market indicator that reveals which specific chip stocks are all but guaranteed to blast off.

And that’s regardless of who wins this election, or how bad the third wave of Covid-19 gets.

I dare you to ignore this trend.

Don’t miss out on the profit opportunity this time!

Keep an eye on your inbox.

Ahead of the tape,
Lou Basenese
Lou Basenese



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