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First Mover Asia: Bitcoin Not Ready to Soar as Investors Await Fed Chair Speech, More Earnings

From coindesk.com

Major digital asset prices traded flat over the weekend, with bitcoin down 1.7% and ether in the red 2.3% over the weekend. After a mediocre start to earnings season, investors are thought to be looking ahead to Federal Reserve Chairman Jerome Powell’s speech, scheduled for Tuesday afternoon, before making any big moves. FactSet data shows that less than 1% of the companies in the S&P 500 reported earnings that were above estimates. This is below the five-year average of 8.6%, and the 10-year average of 6.4%. "As a result, the earnings decline for the fourth quarter is larger today compared to the end of last week ... (full story)

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  • Category: Fundamental Analysis