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There’s No Escaping McNally Bharat Engineering Company Limited’s (NSE:MBECL) Muted Revenues – Simply Wall St

McNally Bharat Engineering Company Limited's (NSE:MBECL) price-to-sales (or "P/S") ratio of 0.2x may look like a pretty appealing investment opportunity when you consider close to half the companies in the Construction industry in India have P/S ratios greater than 1.1x. However, the P/S might be low for a reason and it requires further investigation to determine if it's justified.

See our latest analysis for McNally Bharat Engineering

For instance, McNally Bharat Engineering's receding revenue in recent times would have to be some food for thought. One possibility is that the P/S is low because investors think the company won't do enough to avoid underperforming the broader industry in the near future. However, if this doesn't eventuate then existing shareholders may be feeling optimistic about the future direction of the share price.

The only time you'd be truly comfortable seeing a P/S as low as McNally Bharat Engineering's is when the company's growth is on track to lag the industry.

Retrospectively, the last year delivered a frustrating 19% decrease to the company's top line. This means it has also seen a slide in revenue over the longer-term as revenue is down 54% in total over the last three years. Accordingly, shareholders would have felt downbeat about the medium-term rates of revenue growth.

Comparing that to the industry, which is predicted to deliver 15% growth in the next 12 months, the company's downward momentum based on recent medium-term revenue results is a sobering picture.

With this in mind, we understand why McNally Bharat Engineering's P/S is lower than most of its industry peers. Nonetheless, there's no guarantee the P/S has reached a floor yet with revenue going in reverse. Even just maintaining these prices could be difficult to achieve as recent revenue trends are already weighing down the shares.

While the price-to-sales ratio shouldn't be the defining factor in whether you buy a stock or not, it's quite a capable barometer of revenue expectations.

It's no surprise that McNally Bharat Engineering maintains its low P/S off the back of its sliding revenue over the medium-term. At this stage investors feel the potential for an improvement in revenue isn't great enough to justify a higher P/S ratio. Given the current circumstances, it seems unlikely that the share price will experience any significant movement in either direction in the near future if recent medium-term revenue trends persist.

It is also worth noting that we have found 4 warning signs for McNally Bharat Engineering (3 are a bit unpleasant!) that you need to take into consideration.

If strong companies turning a profit tickle your fancy, then you'll want to check out this free list of interesting companies that trade on a low P/E (but have proven they can grow earnings).

Find out whether McNally Bharat Engineering is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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There's No Escaping McNally Bharat Engineering Company Limited's (NSE:MBECL) Muted Revenues - Simply Wall St

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Northern Berkshire YMCA Waiting On Pool Engineering Report – iBerkshires.com

YMCA Executive Director Jess Rumlow speaks with dozens of YMCA patrons about the condition of the pool roof on Wednesday. The pool was closed a month ago after it failed a roof inspection.

The pool is empty and the doors locked at the YMCA. The rest of the building is open and operating.

That section of the YMCA closed nearly five weeks ago after the roof failed a required structural inspection.

Jess Rumlow, the CEO and executive director, told the dozens that attended a community meeting on Wednesday that an inspection is required every two years.

Last time it passed; this time it failed.

Wthout an engineering report in hand, she did not have specific answers but wanted to begin a conversation with the community about the immediate and long-term future of the facility.

"We need to have a lot of conversations, we need to make sure that whatever we do is what the community needs and so that's what I'm hoping this conversation is about today," she said. "I'm not going to be able to answer your questions because I don't have those answers but what we can do is we can hear from you about what questions you have."

Rumlow said the specific issue is that the ceiling beams aove the pool had begun to compress, and there were concerns over what a heavy snowfall could do.

"Then we got 24 inches of snow," she said, referring to the March 14 storm that dumped upwards of 40 inches across the regiona.

Building Inspector William Meranti measured the beams prior to the storm and then after some of the beams had dropped an inch.

This triggered a full investigation of the pool facility and a structural engineer was hired to do a complete survey of the roof and ceiling.

Rumlow said this was done about two weeks ago and that the report should be complete any day now.

"So we're still waiting on the report. We are actively engaged in conversations. We're actively working together as a partnership," she said. "But until we know the full scope of what we're dealing with it's really hard to come up with a plan."

The only news she did have was that Hotel Down Street on Main Street has allowed YMCA users limited access to its pool in the interim.

She said the hotel pool is smaller and instead of being able to facilitate 50 swimmers, it can hold about 10 at a time. She said the experience will be different, and users may be limited to in-place activities instead of swimming laps.

There currently are morning slots Monday, Wednesday and Friday and swimmers can call the Northern Berkshire YMCA to claim spots. She said it will work similarly to how pool time was organized under COVID-19 restrictions.

She said the YMCA is providing a lifeguard, instructors, and equipment.

Unfortunately, this partnership will only last until Memorial Day and Rumlow said the YMCA is actively seeking new partnerships.

"My goal is that once we get something going we're not going to you and saying we have no plan again," she said. "But these things take time."

She said they have yet to really open up conversations with pool facilities in Williamstown as well as explore different outdoor swimming opportunities this summer. She said although there are liability and lifeguard staffing issues to consider, these options are still on the table.

Rumlow did say all users have the ability to use the YMCA pools in Bennington and Pittsfield, and if there is a need and want, specific Northern Berkshire time slots and programming can be scheduled. She did acknowledge that this is not a solution for everyone, especially those with difficulties traveling.

YMCA leadership and city staff fielded questions that were more an exercise in speculation.

Meranti was able to provide some details on the cause of the damage noting that although the roof lasted a long time, it was poorly designed. He said both exterior and interior moisture from the pool contributed to the damage.

He did not have a timeframe without the engineering report but did note the best-case scenario may be a quick and inexpensive but temporary fix. The worst-case scenario would be a full roof replacement that would certainly keep the pool dry for some time.

Meranti clarified that it is a city building and that the city is expediting the process.

"Believe it or not, this is the expedited procedure. We're treating it as an emergency and we're pushing as fast as we can to try to avoid as much of the red tape as we can," he said. "We have multiple engineers working on this, and we are waiting for reports. But that all takes time."

He added that the administration has also begun looking at different funding sources to address actual construction if needed.

Mayor Jennifer Macksey said at Tuesday's City Council meeting that officials were "hoping to have an action plan on that building very soon. But we are at the mercy of the engineering report."

The panel heard testimonials from pool users, many now elderly who said they learned how to swim at the YMCA. Others said the pool was critical to their mental and physical health, and some that their health has deteriorated since its closure. There were also parents who spoke about the importance of youth programming.

Hearing so many different voices, Rumlow reaffirmed that the YMCA is more than a North Adams facility.

"I think some of the key things that I've heard is that this is a Northern Berkshire community facility. It is not just in the North Adams facility. And so that's where this conversation can be larger," she said. "Some of the biggest concerns that I've heard is this going to be why the Y leaves this community We're here today because we don't want to leave this community, and we do believe in this community, the impact that the YMCA has, and all of your stories."

Rumlow noted that the Pittsfield renovation took years to complete. She said this is not off the table in North Adams but a lot of work would needs to be done.

"The pool is a big issue at hand right now, but we have heard you guys that you want more. You want a facility you can be proud of, you want different opportunities," she said. "That starts with research, that starts with a community needs assessment, and fundraising market analysis."

Others pointed to the structure of the Northern Berkshire YMCA. One user said it is "hopelessly complex" as the YMCA, the city, and North Adams Public Schools all have some jurisdiction over the property (which is attached to Brayton School). One user said she was not sure who to send a check to to support a project.

"We all came into this and this was the arrangement that was pre-existing all of the leaders sitting here today," she said. "So we are trying our best to figure out what this should look like and start that conversation. But once again, I have no clear answer for you other than to say, I agree."

Some users felt the YMCA needed to be more proactive and start a capital campaign immediately to address the roof. There was a feeling that waiting too long would kill momentum with possible donors waiting in the wings.

Rumlow thanked the users for their input and noted that the meeting was only the first part of a longer conversation about the YMCA.

"At this point, we have to trust the process because we have to. It's our only option right now. I know that it's hard, I know some of you feel like this is been a long conversation, and a long time coming," she said. "So we need to have answers and unfortunately, I think time ran out a little bit in order for us to be proactive in our response and now we're responding But just trust us that we are committed to figuring out our next steps."

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Selling SOLIDWORKS on the Cloud Shouldnt Be This Hard – ENGINEERING.com

The industry-leading MCAD program SOLIDWORKS has turned itself into two products. One is the traditional version, desktop-based SOLIDWORKS that most users are familiar with. The other is called SOLIDWORKS 3DEXPERIENCEat least until you install it, when it seems to turn into SOLIDWORKS Connected. Dassault Systemes, owner of the SOLIDWORKS brand, might as well have called the two versions SOLIDWORKS Blue and SOLIDWORKS Red. One of them, Neo, has a future.

Dassault Systemes is trying very hard to show the advantages of SOLIDWORKS 3DEXPERIENCE. The company has split the SOLIDWORKS division into two camps, the old SOLIDWORKS led by Manish Kumar and the new SOLIDWORKS 3DEXPERIENCE headed by Gian Paolo Bassi.

Think of it as the same old SOLIDWORKS you know and love, says Jordan Tadi of the 3DEXPERIENCE camp in a demo, but with benefits.

Tadi plays the role of the wise one, the one with a future, the cloud savant. He is cajoling a somewhat skeptical buddy, Andy Barnes, toward the light.

The SOLIDWORKS of the future does indeed look like the old SOLIDWORKSif you ignore a few things. Like two visitors, Megan Manager and Don Designer (their names are clues to their roles in this skit, if you havent guessed them already), who seem to have invited themselves to the proceedings.

Megan and Don are inserted to prove the ease of collaboration with the 3DEXPERIENCE platform, of which this modern version of SOLIDWORKS, is part. They could be physically anywhere, but they are able to see what you are designingand comment if they feel the need.

At this point, the demoing duo may be at the biggest risk of losing the very audience they are trying to reach and convert. How many engineers or designers appreciate working below a peanut gallery? Dont you do your best work when you can concentrate and not be interrupted? Do you want your manager to be looking over your shoulder? How about if they just tell you what they need and you can see them once again to deliver it?

But hang on. We are in a collaborative world now, people. We have competition breathing down our necks, meaning shorter design cycles, and so we need to work in parallel. And we arent always able to be physically in one room to have design reviews, handoffs have you learned nothing in the last couple of years?

The demonstrators cater to the crowd, feigning annoyance at Megan Manager, but also address the advantages that SOLIDWORKS 3DEXPERIENCE offers the manager.

She doesnt even need to have SOLIDWORKS. She can see your design from a web browser. Or on her phone.

We see a web-based view and instead of a complicated CAD interface, it has easy-to-use view commands that even a manager could use. So there, your manager, CAD challenged as they might be, can still see your design, whether it is ready to be seen or not, from all anglesand offer pearls of wisdom.

Oh, joy.

Ostensibly the design of a chop saw, the demo fast forwards over all that CAD stuff. That may sound as if it is reducing the significance of CAD stuff and being demeaning to those who take CAD stuff seriously, but that is not the case. Your SOLIDWORKS prowess is understood even if it is not acknowledged. This webinar is all about what is new and exciting.

Even if collaboration is hard to sell, theres plenty of reasons to take the red pill.

For example, being on the cloud with the 3DEXPERIENCE platform offers these advantages:

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Selling SOLIDWORKS on the Cloud Shouldnt Be This Hard - ENGINEERING.com

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Has Altcoin Season Arrived? Watch Out For These 6 Cryptos – NewsBTC

Ethereums (ETH) rally above $2,100 after the Shanghai hard fork has kicked off the altcoin season, according to Crypto Twitter. In addition to ETH, numerous altcoins are posting double-digit gains over the past 24 hours, while Bitcoin has seen a moderate rise.

Arthur Hayes, the former CEO of BitMEX, is one of the experts who announced the start of the new altcoin season. Hayes tweeted the 4-hour chart of ETH. Alluding to an interlude by rapper Jay-Z, he wrote, Allow me to reintroduce myself. My name is ALTSZN!!!.

But its not just Hayes who sees altcoins trending to outperform Bitcoin in the coming weeks, other experts do too. Scott Melker aka The Wolf Of All Streets tweeted beautifully and shared the Bitcoin dominance chart below.

As Melker discussed on Wednesday, there is currently a clear case for altcoin outperformance. Bitcoin dominance has hovered in the 39% to 49% range for years. When RSI hits overbought and it hits the top, dominance drops and alts outperform. The opposite happens at the bottom, Melker explains.

Bitcoin was rejected yesterday, as predicted by Melker, at the upper end of the range (at 49%) with an overbought RSI and bearish divergence. Based on this, Melker expects Bitcoins dominance to fall again in the coming weeks while altcoins experience big gains.

According to the analyst, the only scenario that could prevent an altcoin season is unless we see a MAJOR breakout and Bitcoin crushes everything.

Melker explained that he is usually extremely conservative when it comes to sharing altcoin charts in his newsletter. So when I choose to, I have relatively high conviction that alts are relatively safe for the moment, wrote the analyst, who recommended Fantom (FTM), Binance Coin (BNB) and Solana (SOL) last week.

Crypto Banters Miles Deutscher has his eye on the newer coins in particular, which have confirmed his theory in the last 24 hours, writing double-digit price gains. The analyst notes that interestingly, newer coins like Arbitrum (ARB), Aptos (APT) and Optimism (OP) are outperforming their older counterparts.

The market loves gravitating toward the latest shiny thing. The same thing happened last cycle, and it will happen again, predicts Deutscher, who sees three factors for this. First, new technology offers an improvement over its predecessors.

Second, the lack of historical price movement (resistance) is psychologically less limiting in terms of upside potential. Investors believe that the new coins like ARB and APT can replicate the performance of the old coins.

Third, current trends have a greater impact on retailer awareness than older narratives.

At press time, Arbitrum (+18,8%) was the biggest gainer within the top-100 by market cap. With +10.4% and +9.3%, respectively, Aptos and Optimism are also posting strong gains.

However, there are also cautionary voices. The renowned trader Koroush AK writes:

In a bull market the cycle is clean and predictable.$BTC > $ETH > Altcoins > Trashcoins > Repeat

However were not in a full blown bull market, I suspect this will be more like 2019.Expect coins to lag, isolated narrative pumps, sharp crashes and unpredictable ends to the cycle.You will get rekt trading this like a full blown bull market.

At press time, the Arbitrum (ARB) token traded at $1.56.

Featured image from iStock, chart from TradingView.com

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Has Altcoin Season Arrived? Watch Out For These 6 Cryptos - NewsBTC

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BitBoy Says XRP His Top Altcoin Pick for Next Bull Run – The Crypto Basic

The crypto influencers decision is based on the speculations that the SEC v Ripple case will likely end soon.

Ben Armstrong, commonly known as BitBoy, has divulged that his top altcoin picks for the next bull run is XRP, citing several reasons. BitBoys reasons are based on speculations that the legal tussle between the US SEC and Ripple will likely end soon.

BitBoy disclosed his decision in a YouTube video he shared today through his Twitter handle. He says XRP is the one altcoin he is entirely confident in as the crypto markets head toward the next bull run.

In the video, the prominent influencer disclosed that he is confident Ripple Vs. SEC lawsuit could end anytime now, as the trial calendar is closing. He predicted an end in June or July, based solely on personal conviction, but noted that Judge Torres could deliver a ruling anytime.

BitBoy further noted that XRPs forecasted run is contingent on Ripple winning the case through a settlement or an outright win. However, he disclosed that he would prefer a settlement, as that would eliminate the chances of an appeal from the SEC. An appeal would further sustain the legal pressure on XRP.

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It bears mentioning that Attorney John Deaton has repeatedly stressed that he does not feel the case would end in a settlement. Moreover, Coinbase CLO Paul Grewal noted that an appeal is likely to emerge following a ruling on the case.

According to BitBoy, if the case ends in a settlement, chances of an appeal are eliminated, and XRP would be rid of the legal pressure mounted on it, allowing it to surge.

In addition, he highlighted that if Ripple wins, XRP will stand tall as the only asset that has gone through a trial and is deemed a non-security. This would make it unique.

BitBoy also called attention to XRP listings on exchanges that have delisted it due to the SEC litigation. He pointed out the asset could rally whenever a major exchange like Coinbase relists it.

This would not be the first time the influencer is tapping XRP to outperform all other assets in the next bull run. He made similar claims in a tweet on April 4.

BitBoy also asserted on Wednesday that XRP would make investors rich once the SEC case ends. Amid the assets latest rally, he mentioned that investors are adding to their bags due to a favorable insider report.

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Crypto Whales Move Over $65M In 3 Altcoin Transactions – AMC Enter Hldgs (NYSE:APE) – Benzinga

On Wednesday, a data analytics platform identified a series of big whale transactions, indicating some of the highest activity seen for altcoins in the past three months.

What Happened: According to Santiment, "It isnt just Bitcoin BTC/USD holders who are polarizing now that $30k has been crossed."

A whale moved $27.9 million worth of Apecoin APE/USD making it the biggest altcoin move from exchange to exchange, in the last three months.

See More: Top Indian Apps That Give Bitcoin, NFT Rewards

Aave AAVE/USD ranked third among the altcoins with a whale transferring $21.4 million. This was an exchange-to-exchange move as well, whereas Lido Dao LDO/USD stood in seventh place with a transaction of $15.6 million between non-exchange to non-exchange addresses.

The combined whale activity of the three altcoins comes to $64.9 million.

Price Action: At the time of writing, BTC was trading at $30,106.61, up 0.52% in the last 24 hours, according to Benzinga Pro.

Read More: Ethereums Shapella Upgrade Pushes It Higher, Bitcoin, Dogecoin Decline: Analyst Predicts 47% Rally For This Altcoin

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Crypto Whales Move Over $65M In 3 Altcoin Transactions - AMC Enter Hldgs (NYSE:APE) - Benzinga

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Ethers Post-Shanghai Rally Knocks Bitcoin Dominance From 21-Month High – Yahoo Finance

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Ethers (ETH) fresh rally above $2,000 after the successful Shanghai upgrade late Wednesday dropped bitcoins (BTC) dominance from an almost two-year record high, according to TradingView data.

BTCs dominance rate rose to as high as 49.06% early Wednesday, according to TradingView data, before retreating to 48.12% as ETHs price rose. The last time the metric was around the 49% level happened in July 2021, some 21 months ago, TradingView shows.

ETH dominance, on the other hand, surged to 19.87% on Thursday, marking a one-month high.

The BTC dominance rate is the BTC market capitalizations share of the total market cap of the cryptocurrency market. The metric is important to assess the relative strength of BTC, the largest cryptocurrency by market value, compared to the broader crypto market, or identify periods when altcoins outperform, also known as an altcoin season. Ether dominance similarly shows the second largest cryptocurrencys relative value to the crypto market.

Ethers improved performance has reduced bitcoins share of the crypto market. The shift has come after the Ethereum networks long-awaited tech upgrade, called Shanghai or Shapella, was deployed without a hitch late Wednesday.

The upgrade enabled the withdrawal of more than 17.4 million of staked tokens, worth some $35 billion, from Ethereums proof-of-stake blockchain for the first time since its launch in December 2020. Its successful deployment eliminated a slight but concerning f risk that ETH investors might not be able to reclaim their tokens locked up in staking contracts..

ETH rose as high as $2,023 on Thursday, gaining 5% in the past 24 hours, according to CoinDesk data, leading the upswing of the broader crypto prices.

BTC, which also reacted positively to the upgrade, is only up 1.5% through the day, lagging behind altcoins.

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Ethers Post-Shanghai Rally Knocks Bitcoin Dominance From 21-Month High - Yahoo Finance

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XRP may not bear an impact as terrible as other altcoins would, even if Ripple loses the SEC lawsuit – FXStreet

Ripple has been fighting the Securities and Exchange Commission (SEC) for the last two years. The lawsuit, which is expected to become a landmark case in crypto regulation, is nearing its conclusion, and the possibility of losing the case has got many Ripple users worried. But even if Ripple loses the case, they should not panic.

Since December 2020, Ripple has been suffering the legal torture that the SEC put out, and the company still stands strong, still finding real-world use cases. Even though many cryptocurrency exchanges have delisted their native token XRP, the project is continuing to serve the inherent purpose of its existence.

Banks and international payment facilitators to date remain unbothered by the lawsuit as major US and UK banks have been deploying Ripples services for years now. The likes of Bank of America in the United States have been maintaining their partnership with Ripple since 2020. Similarly, PNC Bank has also stuck with Ripple since 2016 for faster payments.

In the United Kingdom too, Standard Chartered is sustaining its partnership of seven years with Ripple. The bank has opened payments to nearly 50 countries with the help of the service provider, expanding its reach significantly.

Furthermore, the increasing geopolitical troubles among nations and recent banking failures may lead to central banks pulling away from depending on corresponding banks. The fallout between Russia and the United States, as well as the de-dollarization that Russia and China commenced in their bilateral trades, are examples of how central banks might find trouble communicating transactions. This could be a boon to Ripple as it was designed to fill this role.

The lack of negative influence of the lawsuit is visible in the fact that Montenegro even picked the blockchain for the pilot program of its CBDC. This came at a time when regulatory uncertainty has been at its highest in the crypto market, with the SEC cracking down on everyone.

Although all indications suggest that Ripple is on its way to winning the ruling in the lawsuit, a loss may still have some impact on the altcoin, albeit minimal. All that losing the case would do is mandate XRP to register as a security to be relisted by exchanges.

As it is, the XRP communitys bullishness has kept the token among the top 10 cryptos with a market cap of $27 billion. Furthermore, supporters could lean in further on the token to avenge the project. This would keep the altcoin afloat even after the outcome bearing no significant damage to XRP.

All XRP has lost in the last two years since the lawsuit began is its social presence, which seems to be returning. At the moment, XRPs social dominance is sitting at April 2021 highs, with the project registering two out of every 100 crypto-related queries to its name. Even if the case is lost, XRP will likely maintain these levels.

XRP social presence

However, this would increase the SECs powers and scrutiny over other cryptocurrencies. The recent regulatory crackdown has been terrible as is for the crypto market, and additional power could make it worse.

The SEC could achieve its aim of becoming the chief regulator, bringing high fines to projects that dont meet its security standards. The regulatory body might also implement a stricter industry environment, making the crypto space far less lucrative for developers and leading to a decline in innovation in the industry.

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XRP may not bear an impact as terrible as other altcoins would, even if Ripple loses the SEC lawsuit - FXStreet

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Cosmos-Based Altcoin Project Surges 88% This Week Amid Rollout of New Liquidity Incentive Program – The Daily Hodl

The token of Cosmos (ATOM) blockchain-based liquid staking protocol Stride (STRD) is surging after the platform updated its incentives program.

On April 7th, Stride rolled out a 60-day liquidity incentives program that dramatically reduced the number of STRD tokens that are being distributed as incentive for ensuring stToken liquidity on decentralized exchanges.

First of all, currently about 27,000 STRD is emitted per day as incentives. But once this new incentive program takes effect on April 7th, that rate will fall to 7,100 STRD per day a decrease of more than 70%.

The protocol says that much of the STRD that is being used as incentives will be replaced with other tokens.

Although the tokens used for incentivization are changing, holders of stTokens and stToken liquidity providers can have confidence that the Stride DAO will continue incentivizing stToken liquidity indefinitely, and adequate guidance about future changes will always be given well in advance.

The protocol says giving huge incentives has made the blockchain more decentralized but it will not be feasible in the long term. It says the new program will likely be renewed for another 60 days.

Huge incentive programs arent sustainable. Now that Stride has achieved over 80% liquid staking market share in the Cosmos as well as numerous integrations, the focus can shift to sustainability.

Going forward, the focus will be on ensuring stToken trading liquidity in a sustainable way.

The price of STRD is seeing impressive gains amid the changes. The token is currently trading for $1.95, up by 34.6% over the last 24 hours.

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Cosmos-Based Altcoin Project Surges 88% This Week Amid Rollout of New Liquidity Incentive Program - The Daily Hodl

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Crypto Analyst Predicts Bitcoin and Altcoin Implosion Amid Incoming Recession and Stock Market Collapse – The Daily Hodl

A closely followed crypto analyst is predicting an implosion for Bitcoin (BTC) and altcoins as he believes that a recession and a stock market collapse are on the horizon.

In a new strategy session, Nicholas Merten, the host of DataDash, tells his 511,000 YouTube subscribers that Bitcoin bulls are betting on a sustained rally following BTCs breakout performance to start the year.

However, Merten says that crypto is likely at the tail end of its rally as he believes the Federal Reserve will not create the conditions needed to spark a new bull market.

This focus that a lot of the bulls are betting on, which is that the Fed [is] going to save the day, everythings going to start moving up and accelerating again and kick off a new bull market

The Fed is not going to be able to stimulate the kind of risk-on behavior that you see in a typical bull market, especially in alternative assets like altcoins that are definitely riskon. This is not telling me that the markets are ready to sustain a long-term uptrend. If anything, this is telling me weve been through a pretty bloated relief rally that is likely going to fade over the next coming weeks and months.

Merten goes on to say that investors should expect an upcoming recession and be wary about narratives centered around BTC spiking to $1 million due to the economy crashing.

The only narrative that people are excited about is AI (artificial intelligence), which has definitely made progress, but is not looking to make any profit anytime soon, more specifically, burning capital over the next couple years going into a tightening environment, potential recession over the next couple of months.

I just really cant make these bets I know a lot of people can get people hooked in, saying, Bitcoins going to $1 million, the systems gonna collapse

If you guys want a little bit of exposure, if you want to hedge your wealth, all you need to have is fractional exposure. You dont need to go all in on something. Youll still make great returns and hedge yourself and protect your core wealth if the entire system collapses.

The analyst also says that the US stock market is approaching a key resistance level, indicating that a significant correction may be in sight.

Unfortunately, it does not look good here folks. Since back in January of 2022, around the same time we got the red flip on Bitcoin, we can see that the red resistance band has been a really good gauge. When price starts to get close to this range, inside the red band, its time to start getting ready to go short. We are already relatively close to this band.

Bitcoin is trading for $28,015 at time of writing, a fractional gain on the day.

I

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Crypto Analyst Predicts Bitcoin and Altcoin Implosion Amid Incoming Recession and Stock Market Collapse - The Daily Hodl

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