Bitcoin is still up, but struggling to pass 12K
Bitcoin’s $20,000 peak is still achievable but it all depends on the $12,000 resistance. Now that Bitcoin is out of the sub $10,000 range, bullish sentiment is picking up, but a higher break above $12,000 is what’s needed to keep the momentum going.
Meanwhile, the alts are still in the red over the week, despite news of Ripple’s $30 million partnership with Moneygram, the 2nd largest money transfer firm.
General Electric (GE) Plummets 11% For Worst Loss in 11 Years
GE is running a bigger scam than Enron according to financial analyst Harry Markopolos
(the same guy responsible for calling out the Ponzi scheme run by Bernie Madoff way before regulators caught him).
Markopolos is claiming to have discovered fraud totaling $38 billion in GE’s books, which he points out to being bigger than Enron and WorldCom combined. The news took the stock down more than 10% on Thursday, though it’s recovered about 7% of that loss since then.
Walmart Beat Expectations With Q2 Earnings Report
Despite a looming recession, consumers are still shopping confidently. At least that’s the feeling after Walmart, the world’s second-largest retailer, released its earnings on Thursday.
Walmart’s stock jumped 5% on the earnings beat and is currently 7% higher week-over-week. The retailer beat expectations on revenue, earnings per share, and same-store sales, despite slightly revising 2020 guidance down in some areas.
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