Bitcoin Drops Below $50000 — Where Will It Bounce?

After a weak bounce, BTC broke down from the channel, yesterday.

Mining companies awarded blocks in Egypt’s Eastern Desert are set to start exploring for gold under a legislative overhaul that seeks eventually to unlock vast untapped mineral resources.

The rationale for the exemption is that they only serve one wealthy client who doesn’t need the protections afforded to investors in other funds.In addition, offices with less than $100 million in assets or that manage funds only for one person can avoid regularly disclosing their holdings to the SEC.Offices that serve more family members must file their holdings with the SEC, but can ask for, and often receive, an exemption allowing them to keep the filing confidential.Even those reports, like those of hedge funds and mutual funds, usually only include direct ownership of stocks and not derivatives positions, like the total return swaps that led to Archegos’s downfall.Large banks brokered the stock swaps for Archegos for a fee.

President Joe Biden will roll out a plan to raise taxes on the wealthiest Americans, including the largest-ever increase in levies on investment gains, to fund about $1 trillion in childcare, universal pre-kindergarten education and paid leave for workers, sources familiar with the proposal said.

The Indian rupee’s near-term fortunes may directly be influenced by the Reserve Bank of India’s intent on preventing any further depreciation in the currency as the surge in COVID-19 cases hits jobs and growth, economists and traders said. “INR is likely to trade with a depreciating bias on the back of a stronger dollar, relatively weaker EM currencies, muted EM inflows and rising COVID-19 cases in India,” said Sameer Narang, chief economist at state-run Bank of Baroda.

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