Home Blog Page 59

Digital Transformation & Leadership in the Banking & Finance Industry

0

 Claiming Back Your VATAll attendees of a London based course incur VAT as a part of the cost of attendance.Euromoney Learning have partnered with VAT IT to allow you the unique opportunity to recoup the VAT incurred.Using VAT IT’s extensive experience and simple sign-up and refund process, every invoice can be turned into cash for your business.Claim the VAT that’s rightfully yours in four simple steps: 1. Register your interest 2. Sign a few simple documents 3. VAT IT processes your claim 4. Receive your refund Why choose VAT IT VAT IT have spent two decades identifying, researching and perfecting the foreign VAT Reclaim process and built the best back end technology in the industry. By partnering with Euromoney Learning, we can provide you with a fast and effective way to reclaim your VAT which helps reduce the cost of your training.VAT IT will charge a percentage of the VAT refund if/when it is successful. Can I claim back the VAT myself?You can claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form. For European clients, please refer to form VAT 65. All other clients, please refer to form VAT 65A. You may also be able to claim back your VAT against courses taking place outside of the UK, and we would recommend contacting VAT IT, our specialist partner, to discuss how to do this.

5 reasons bitcoin price could hit $100,000 in 2021 as Tudor Jones buys

0

Mark Yusko, the CEO and chief investment officer at Morgan Creek Capital Management, shared several reasons he thinks bitcoin’s price will hit $100,000 by the end of 2021.Yusko said it would be “perfectly logical” for bitcoin to hit $400,000 to $500,000 if its market capitalization moves toward that of gold.The call comes after the legendary investor Paul Tudor Jones’ recent disclosure that he’s built a stake of bitcoin futures, making him the latest investment mogul to buy the cryptocurrency.Click here for more BI Prime stories.
With the legendary investor Paul Tudor Jones disclosing purchases of bitcoin futures for the first time, it’s become increasingly clear that market denizens who were once skeptical about the cryptocurrency are revisiting their stance.But Mark Yusko, the CEO and chief investment officer at Morgan Creek Capital Management, where he oversees $2 billion, has been a bitcoin proponent for years now.In addition to being bullish on bitcoin, Yusko is bearish on the real estate market, stocks, and the US Dollar. What’s more, he calls bonds “pretty overvalued,” so he’s not keen on that space either.”Really what it comes down to is … I realized that this was technology — an innovation in technology, an innovation in computing power,” he said on the “Altcoin Buzz” podcast. “I actually believe that this transition will be the biggest wealth-creation opportunity I’ll probably see in my lifetime.”
The transition that Yusko speaks of is what he calls the move to “Web 3.0.” The way he sees it, Web 1.0 consisted of the initial internet moguls — Cisco, Microsoft, and Intel — and created tons of wealth. Web 2.0 companies grew even faster and bigger — firms like Alibaba and Facebook — because they were building on viable infrastructure already put in place.Today, Yusko says Web 3.0 — blockchain — will be “even bigger.” And it’s this network that is the key to making bitcoin valuable.And he has some extremely bullish forecasts for the cryptocurrency. He sees the fair value of bitcoin skyrocketing to $100,000 by the end of 2021. That would mark an about 900% increase from current levels.Outlined below are five of the main reasons Yusko gives for his unabashed bitcoin bullishness. 
1. It’s a noncorrelated safe-haven asset “It acted exactly as all other safe-haven assets did,” Yusko said in reference to bitcoin’s behavior during the latest coronavirus-induced market swoon. “What people seem to miss is that uncorrelated doesn’t mean that you’re uncorrelated every day, every hour, every minute. It means you’re uncorrelated over the long term. And the correlation of bitcoin to other assets is very low — still about 0.15.”2. Fundamental growth”People take these short-term moves and try to extrapolate them into long-term trends — and they’re just not,” Yusko said. “They’re really unrelated events to the long-term fundamental part of bitcoin that is so attractive, which is more uses, more adoption, more widespread ownership, more wallets, more people with 0.1 or more bitcoin in their wallet.”
He added: “So all those things fundamentally are really, really strong.”3. The word is spreading and education is ramping up”But what you’ve got is this increasing knowledge base that’s being disseminated — groups like yours going on the air, people writing about it, people bringing it front and center,” he said.When Yusko first found out about bitcoin, he was skeptical. But as he learned more and became more educated in the space, he realized the opportunity at hand. He expects others to follow a similar path.
4. An endorsement from a younger generation”Bitcoin growth is determined differently. It’s a network, and networks grow based on usage, based on regulation, based on — in this case —millennial adoption because there’s really a difference between how older investors view the world, right? They think of gold as their safe haven. Younger investors think of bitcoin as their safe haven,” Yusko said.5. Fair value and scarcity”There will only be 21,000,000 ever mined, but some do get lost forever,” he said. “Fair value of this network — if you follow the stock-to-flow model or the original parabolic growth model — comes out to about $10,000 in 2017. Magically, we hit that about six days after we were supposed to.” 
He added: “By 2021, about the mid to end of 2021, the fair value will be around $100,000.”With all of that established, it’s also worth noting that Yusko has an even more bullish forecast in a more far-flung scenario in which the total market value of bitcoin rivals that of gold. If that happens, he thinks bitcoin could hit $400,000 to $500,000. It’s a scenario he believes to be “perfectly logical.”

Blockchain Explained: The rise of private blockchains

0

What companies are using private blockchains today and why?
Walmart has developed a blockchain system based on Hyperledger Fabric to trace the provenance of their products. The blockchain allows suppliers to upload certificates of authenticity to the ledger securely, bringing more trust to a system and enabling the company to trace products back to source within seconds rather than days.
After successful trials with two products, the company is looking to roll it out further. Like other private blockchains, Walmart’s traceability system does require its suppliers to participate in the system to ensure its veracity, but the company is large enough to impel them to comply. 
De Beers has launched a ‘secure and immutable trail’ using a private blockchain called Tracr, to verify the authenticity and provenance of diamonds and ensure they are not “blood diamonds” from conflict zones. 
Comcast has partnered with other industry leaders to launch Blockgraph, a blockchain-based system which allows advertisers to target viewers with specific adverts while maintaining viewers’ privacy.
BurstIQ’s big data blockchain platform helps patients and doctors securely transfer sensitive medial information using smart contracts that establish the parameters of what data can be shared.
In April 2017, the streaming giant Spotify acquired blockchain startup Mediachain in an effort to create a fairer, more transparent, and rewarding music industry for musicians. Prior to its acquisition, Mediachain had developed several technologies that could aid in these efforts, including a decentralized, peer-to-peer database that connects applications to media and information about it, the Mediachain Attribution Engine, and a cryptocurrency that rewards artists for their work.
The all-in-one real estate transaction management software, Propy, leverages blockchain technology to streamline real estate transactions and mitigate the risk of fraud. Propy even offers properties that can be purchased using cryptocurrency.
Xage is the world’s first blockchain-enabled cybersecurity platform for IoT companies primarily in the transportation, energy and manufacturing industries. With the ability to self-diagnose and heal possible breaches, it leverages blockchain technology to manage billions of devices and protects industrial IoT operations against cyber attacks.
Shipping giant DHL is at the forefront of blockchain-powered logistics. One of the largest shipping companies to embrace blockchain, it uses the technology to maintain a digital ledger of shipments and protect the integrity of transactions.
And several banks and insurance companies, such as JP Morgan and MetLife, are using their own private blockchains to simplify, streamline and verify transactions and contracts that would previously have taken far longer and potentially been less secure.

A hedge-fund chief overseeing $2 billion shares 5 reasons he sees bitcoin surging 900% by the end of 2021 as Paul Tudor Jones dives into the asset | Currency News | Financial and Business News

0
A hedge-fund chief overseeing $2 billion shares 5 reasons he sees bitcoin surging 900% by the end of 2021 as Paul Tudor Jones dives into the asset | Currency News | Financial and Business News

Reuters / Dado Ruvic
Mark Yusko, the CEO and chief investment officer at Morgan Creek Capital Management, shared several reasons he thinks bitcoin’s price will hit $100,000 by the end of 2021.
Yusko said it would be “perfectly logical” for bitcoin to hit $400,000 to $500,000 if its market capitalization moves toward that of gold.
The call comes after the legendary investor Paul Tudor Jones’ recent disclosure that he’s built a stake of bitcoin futures, making him the latest investment mogul to buy the cryptocurrency.
Click here for more BI Prime stories.
With the legendary investor Paul Tudor Jones disclosing purchases of bitcoin futures for the first time, it’s become increasingly clear that market denizens who were once skeptical about the cryptocurrency are revisiting their stance.
But Mark Yusko, the CEO and chief investment officer at Morgan Creek Capital Management, where he oversees $2 billion, has been a bitcoin proponent for years now.
In addition to being bullish on bitcoin, Yusko is bearish on the real estate market, stocks, and the US Dollar. What’s more, he calls bonds “pretty overvalued,” so he’s not keen on that space either.
“Really what it comes down to is … I realized that this was technology — an innovation in technology, an innovation in computing power,” he said on the “Altcoin Buzz” podcast. “I actually believe that this transition will be the biggest wealth-creation opportunity I’ll probably see in my lifetime.”
The transition that Yusko speaks of is what he calls the move to “Web 3.0.” The way he sees it, Web 1.0 consisted of the initial internet moguls — Cisco, Microsoft, and Intel — and created tons of wealth. Web 2.0 companies grew even faster and bigger — firms like Alibaba and Facebook — because they were building on viable infrastructure already put in place.
Today, Yusko says Web 3.0 — blockchain — will be “even bigger.” And it’s this network that is the key to making bitcoin valuable.
And he has some extremely bullish forecasts for the cryptocurrency. He sees the fair value of bitcoin skyrocketing to $100,000 by the end of 2021. That would mark an about 900% increase from current levels.
Outlined below are five of the main reasons Yusko gives for his unabashed bitcoin bullishness. 
1. It’s a noncorrelated safe-haven asset 
“It acted exactly as all other safe-haven assets did,” Yusko said in reference to bitcoin’s behavior during the latest coronavirus-induced market swoon. “What people seem to miss is that uncorrelated doesn’t mean that you’re uncorrelated every day, every hour, every minute. It means you’re uncorrelated over the long term. And the correlation of bitcoin to other assets is very low — still about 0.15.”
2. Fundamental growth
“People take these short-term moves and try to extrapolate them into long-term trends — and they’re just not,” Yusko said. “They’re really unrelated events to the long-term fundamental part of bitcoin that is so attractive, which is more uses, more adoption, more widespread ownership, more wallets, more people with 0.1 or more bitcoin in their wallet.”
He added: “So all those things fundamentally are really, really strong.”
3. The word is spreading and education is ramping up
“But what you’ve got is this increasing knowledge base that’s being disseminated — groups like yours going on the air, people writing about it, people bringing it front and center,” he said.
When Yusko first found out about bitcoin, he was skeptical. But as he learned more and became more educated in the space, he realized the opportunity at hand. He expects others to follow a similar path.
4. An endorsement from a younger generation
“Bitcoin growth is determined differently. It’s a network, and networks grow based on usage, based on regulation, based on — in this case —millennial adoption because there’s really a difference between how older investors view the world, right? They think of gold as their safe haven. Younger investors think of bitcoin as their safe haven,” Yusko said.
5. Fair value and scarcity
“There will only be 21,000,000 ever mined, but some do get lost forever,” he said. “Fair value of this network — if you follow the stock-to-flow model or the original parabolic growth model — comes out to about $10,000 in 2017. Magically, we hit that about six days after we were supposed to.” 
He added: “By 2021, about the mid to end of 2021, the fair value will be around $100,000.”
With all of that established, it’s also worth noting that Yusko has an even more bullish forecast in a more far-flung scenario in which the total market value of bitcoin rivals that of gold. If that happens, he thinks bitcoin could hit $400,000 to $500,000. It’s a scenario he believes to be “perfectly logical.”

Blockchain Explained: How blockchain data is stored and secured

0

Euromoney’s FinTech training courses are led by world-leading experts and cover a variety of topics including private and public blockchains, cryptocurrency, alternative fundraising strategies, and the role of AI, machine learning and big data in banking.
London
15-16 Jul 2020
2
London
02-03 Dec 2020
2
London
13-17 Jul 2020
5
London
30 Nov-04 Dec 2020
5
London
13-14 Jul 2020
2
London
30 Nov-01 Dec 2020
2

Crypto market grows by $13 billion as bitcoin breaks the $10,000 threshold for the first time since February | Currency News | Financial and Business News

0
Crypto market grows by $13 billion as bitcoin breaks the $10,000 threshold for the first time since February | Currency News | Financial and Business News

Reuters
The cryptocurrency market added $13 billion in value over the past day as bitcoin jumped more than 6% Thursday evening.
Bitcoin has rallied more than 100% from its March 16 low and has eclipsed $10,000 for the first time since February.
The three major reasons for the move include anticipation of the next bitcoin halving, institutional investors adding exposure, and the perception that bitcoin would protect against a surge in inflation.
Visit Business Insider’s homepage for more stories.
Bitcoin jumped 6% on Thursday, causing a $13 billion surge in market value for the entire cryptocurrency market, according to data from Coindesk.
The entire cryptocurrency market is worth a combined $267 billion as of Friday morning, data from CoinMarketCap shows. 
The top three cryptocurrencies ranked by market value are bitcoin, worth $181.5 billion; ethereum, worth $23.4 billion; and XRP, worth $9.5 billion.
Bitcoin’s Thursday jump only adds to its recent gains. The cryptocurrency has rallied 102% from its March 16 low of $4,944 to $10,025 Thursday night, representing the first time bitcoin has eclipsed $10,000 since mid-February.
Read more: A hedge-fund chief overseeing $2 billion shares 5 reasons why he sees bitcoin surging 900% by the end of 2021 as Paul Tudor Jones dives into the asset
There are three major reasons being attributed to the move higher in crypto markets.
1. Anticipation of the upcoming bitcon halving.
Bitcoin is scheduled to be “halved” on May 11.
Currently, miners are rewarded with 12.5 new bitcoin per block mined.
On May 12, that 12.5 new bitcoin reward will be halved to 6.25 new bitcoin, limiting the future supply of bitcoin coming onto the market. 
Basic supply-demand principles suggest a reduction in supply results in an increase in price.
Read more: Chad Glauser has dominated his benchmark for 28 months straight using just 3 ETFs. Here’s what they are, and how they’ve combined to beat the market.
Previous halving events were preceded with a sharp rally in bitcoin as anticipation of the event grew.
Coindesk.com
In 2012, new bitcoin rewards to miners were halved from 50 to 25, and in 2016, they were halved again from 25 to 12.5.
Halvings in bitcoin occur every four years.
2. Evidence that institutional investors are starting to load up on bitcoin.
Institutional investors allocating a piece of their portfolios to bitcoin has always been a scenario talked up by bullish crypto investors.
That talking point seems to finally be coming to fruition.
On Thursday, Bloomberg reported that billionaire hedge fund manager Paul Tudor Jones would start buying bitcoin.
Jones told clients that one of his funds could have a low-single-digit percentage allocation to bitcoin futures.
Jones’ reasoning for the allocation to bitcoin? To protect against inflation.
Read more: RBC explains how gold could surge 9% to a record high, even as stocks climb – a scenario that would shatter how investors have thought about the commodity for decades
3. Growing belief that bitcoin will act as a hedge against inflation.
There is a growing belief that bitcoin will serve as an effective hedge against a potential rise in inflation.
Whereas governments can print an unlimited amount of money for various fiscal and monetary policies, similar to physical gold, the supply of bitcoin is fixed.
The supply of bitcoin is fixed at 21 million coins. It is estimated that of the 21 million total coins, 18 million have been mined already.
Bitcoin acting as an inflation hedge has been picking up steam as the US Fed’s balance sheet has expanded by trillions of dollars in just a matter of weeks to fund stimulus programs aimed at mitigating the economic damage caused by the coronavirus pandemic.
As outlined in the chart below, technically, bitcoin is pushing up against a key resistance level. The resistance for the digital gold currency has been $10,000 since 2018. If bitcoin can decisively trade above the psychological $10,000 level, bulls should be back in control of bitcoin.
Read more: Nancy Davis has a pristine track record of calling recent market meltdowns. She outlines a new bubble she sees building in the bond market – and offers 3 strategies for taking advantage.
Freestockcharts.com
 

Blockchain Explained: What are the risks with public blockchains?

0

Euromoney’s FinTech training courses are led by world-leading experts and cover a variety of topics including private and public blockchains, cryptocurrency, alternative fundraising strategies, and the role of AI, machine learning and big data in banking.
London
15-16 Jul 2020
2
London
02-03 Dec 2020
2
London
13-17 Jul 2020
5
London
30 Nov-04 Dec 2020
5
London
13-14 Jul 2020
2
London
30 Nov-01 Dec 2020
2

Hedge funds posted their best month since the financial crisis in April amid the torrid market rebound | Currency News | Financial and Business News

0
Hedge funds posted their best month since the financial crisis in April amid the torrid market rebound | Currency News | Financial and Business News

Spencer Platt/Getty Images
Hedge funds posted their best month in more than a decade as March’s lows gave way to a resounding rally through April.
Eurekahedge’s Hedge Fund Index gained 3.7% last month, its biggest jump since May 2009. A combination of Federal Reserve action, risk-on attitude, and optimism toward COVID-19 vaccine trials pushed investors back into the stock market. Major US indexes posted their best month since 1987 and rallied out of bear market territory. 
Nearly 80% of the index’s members gained in April, with 10% of managers posting double-digit returns. Eurekahedge’s North American Hedge Fund Index jumped 5.4%, while its European peer gained 3.5%. The index for Asia excluding Japan posted the biggest regional win with a 6.5% return, while the Japan-focused hedge fund index leaped 1.6% through the month.
Read more: MORGAN STANLEY: A combo of powerful forces is brewing an inflation comeback that will alter the investing landscape. Buy these 20 stocks to profit from its return.
April also brought the index’s first monthly gain since a meager 0.08% return in January.
The firm’s Crypto-Currency Hedge Fund Index surged 28.5% in April on the back of a broad crypto upswing. Bitcoin soared more than 35% through the month.
Despite the strong April performance, the main hedge fund index remains down 4.6% year-to-date. The S&P 500 and Dow Jones industrial average have also failed to erase their 2020 losses. Both indexes stabilized through the end of last month as volatility cooled and traders questioned the run-up’s strength.
Read more: Bill Miller’s record-setting fund beat the market for 15 straight years. He explains why he’s still bullish on airlines today, even after Warren Buffett abandoned the industry twice.
The Nasdaq composite broke through its December 31 close on Thursday, lifted by a growing interest in mega-cap tech stocks.
Eurekahedge’s Hedge Fund Index includes 2,277 equally weighted constituents.
Now read more markets coverage from Markets Insider and Business Insider:
Nobel laureate Paul Krugman warns emerging markets are about to lose their best defense against recession
The Fed will start buying corporate-bond ETFs on Tuesday — launching a key component of its emergency coronavirus response
A group of healthcare stocks is enjoying the market’s biggest post-crash comeback, and has returned 1,000% over the past decade. One investment firm explains why there’s even more upside — and shares 3 companies it’s buying.

Blockchain Explained: The difference between blockchain and Bitcoin

0

The Bitcoin Origin Story
In late 2008, around the time of the financial crisis, a ground-breaking post appeared on a little-known internet forum entitled Bitcoin: A peer-to-peer electronic cash system. It was written by a mysterious person called Satoshi Nakamoto, a pseudonym used to disguise the author’s true identity.
Satoshi thought that the banks and governments had too much power that they used in their own self-interests. Satoshi envisaged a new type of money called Bitcoin that could change that: a cryptocurrency that wasn’t controlled or run by central banks or governments, that you could send anywhere around the world for free, with no person or institution in charge.
At first nobody paid attention to Satoshi’s wild ideas – but slowly more and more people started buying and using Bitcoin. Many believed it was the future of money, and the worse the big banks behaved the more popular it became. 
Since it was formulated and launched in 2009, Bitcoin has grown to a network of around 10,000 “nodes” or participants which use the Proof of Work system to validate transactions and mine bitcoin.
This democracy prevailed until the development of specific mining computers called ASICs which overtook other less powerful machines, and companies began to profit from amassing miners and mining technology. It is still possible for an individual to take part in the Bitcoin process, but it is expensive to set up and the return on investment fluctuates with the highly volatile value of bitcoin itself. 
Today, massive mining pools are owned or controlled by large corporations, and power is centralising again. This evolution has somewhat undermined Satoshi’s original vision for blockchain in which the “power” of participants was designed to be evenly distributed – but is now concentrated in the hands of half a dozen mining conglomerates.
 

From precious metals to loans on the brink of default: Investors are flocking to these assets after the coronavirus market meltdown

0
From precious metals to loans on the brink of default: Investors are flocking to these assets after the coronavirus market meltdown

Mike Segar/Reuters
Periods of widespread selling and cash-hoarding shifted the sands of the investing landscape to reveal new opportunities.
Several of Wall Street’s biggest firms are raising billions of dollars to pile into distressed debt, viewing the Federal Reserve’s relief measures as a backstop for ailing corporations.
Significant spending on coronavirus relief measures will drag on global currencies, Bank of America projected, setting gold up to skyrocket through the economic downturn.
Even bitcoin is breaching key thresholds, and some investors are turning to the volatile asset for the first time “as a hedge against currency wars,” Ed Moya, senior market analyst at OANDA, wrote Thursday.
Visit the Business Insider homepage for more stories.
Weeks of indiscriminate selling and rotation to cash has left some corners of the market attractive to major institutions and retail investors alike.
Distressed debt, gold, and even bitcoin are currying new favor as popular sectors grow tepid. Trillions of dollars worth of relief measures from the Federal Reserve and the government have stabilized once-turbulent markets and signaled to buyers they can rely on a policy backstop. Firms tracking investor positioning are trying to get ahead of the curve, advising clients to enter underweight areas before a wave of capital follows.
Uncertainty clouding the US’s economic future has spoiled some more traditional investment strategies. The stock market’s rebound from late-March lows has slowed its pace, leaving economists forecasting everything from a sharp uptick to a bear-market resurgence. Monday’s plunge into negative oil prices pushed the commodity market into uncharted territory and added another phenomenon to an already unprecedented year for the financial sector.
With corporate earnings fueling even more volatility to the virus-slammed landscape, investors are targeting gains elsewhere.
Read more: GOLDMAN SACHS: These are the top 11 companies to watch as we enter the best stock-picking environment in over a decade
Sweet and soured debt
The Fed’s policy salvo indirectly gave stocks much-sought-after support following precipitous drops, yet credit markets are where the brunt of the aid will be felt. Distressed debt in the US quadrupled to nearly $1 trillion in less than a week as loan health tanked through March.
The central bank addressed the credit squeeze with an alphabet soup of relief programs aimed at keeping firms afloat through the economic freeze. Where corporations brought fresh supply to the debt market, the Fed’s lending facilities are poised to drive outsized demand.
“We say ‘distressed’ has to trade higher before rally ends,” Bank of America analysts led by Michael Hartnett said in a Thursday note, adding clients should “buy what the Fed buys.”
The policy backstop hasn’t gone unnoticed by Wall Street’s biggest offices. Howard Marks’ Oaktree Capital plans to raise $15 billion for the biggest ever distressed-debt fund, eyeing risky loans as a golden opportunity. The massive debt piles accumulating around the world stand to drive more defaults than during the 2008 recession, Oaktree said in a presentation seen by Bloomberg.
Read more: The stock market is rebounding without the most important ingredient it needs for long-term gains – and one quant chief warns it’s a setup for another crash
Blackstone soon followed suit, with Bloomberg recently reporting the firm is looking to raise $7 billion for its own soured-debt fund. PIMCO is raising a $3 billion fund for a similar strategy. KKR is taking a less conventional path, converting one of its failed funds into a new, $600 million vehicle for buying up corporate loans. All told, billions of investor dollars are following the Fed into distressed debt.
Chase the shiny objects
Gold initially soared as volatility connected to the coronavirus pandemic picked up, but its gains quickly gave way to a mass sprint for cash. With government aid in place and relatively little cash sitting in gold investments, Bank of America said Monday the precious metal is positioned to nearly double to an all-time high by October 2021.
The bank lifted its 18-month price target to $3,000 from $2,000, saying significant easing policies around the world will serve as rocket fuel for the precious metal’s value. Such measures place downward pressure on currencies and historically spike interest in gold.
Positioning in “the ultimate store of value” is also “surprisingly weak,” leaving plenty of room for investors to get in early, the team led by Michael Hartnett wrote in a note titled “The Fed can’t print gold.”
Read more: ‘I’ve gone to cash’: Mark Cuban outlines his coronavirus investing strategy ahead of another ‘leg down’ in markets – and says now is the time to buy real estate
The note helped push gold above $1,700 for the first time since 2012 and bringing its year-to-date gains to 14%. As recession relief measures ramp up in the second quarter, the precious metal’s streak may even accelerate, Ed Moya, senior market analyst at OANDA, said.
“The stimulus trade is not going away anytime soon and that should mean record highs for gold (in dollar terms) by the summer,” Moya wrote in a Thursday note.
Retracing the crypto crash
One play gaining new attention looks to detach from stimulus measures entirely. The recent resurgence in risk appetite is pushing bitcoin to its highest levels since early March, with investors cheering the asset’s disconnectedness from the financial sector. The digital currency surged as much as 9% in Thursday trading to break through the key $7,500 threshold, and its value has stayed above the level as of Friday afternoon. 
Read more: Meet the 20-year-old day-trading phenom who’s turned $20,000 into more than $1 million. He details his precise strategy – and shares how he made $11,400 in 2 minutes.
Where the stock market closed slightly lower through the week, bitcoin shrugged off the oil market crisis and bleak economic data to notch a 5% gain over the same period. Crypto investors now find themselves at a technical junction. The coin is showing enough momentum to clear the $8,000 mark and break through its recent trading range, Moya said in a note. If enough investors outside the usual group of crypto enthusiasts see promise in the asset, it could emerge as a new favorite for those on the lookout for gains.
“Bitcoin is starting to attract retail interest again. With worldwide stimulus efforts showing no signs of easing, some traders are jumping into cryptos as a hedge against currency wars,” he added.
Now read more markets coverage from Markets Insider and Business Insider:
DraftKings soars as much as 18% in trading debut amid sports lockdown and intense market volatility
The Fed will keep interest rates near zero for at least 3 more years, economist survey says
The best small-company stock picker of the past 5 years tells us what he added to his portfolio after the market crashed – and shares his 3 favorite investments for the next decade