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Correlation Between Bitcoin Price and Stocks Reaches a New All-Time High By Cointelegraph

Correlation Between Bitcoin Price and Stocks Reaches a New All-Time High

Lately, price has been showing record-high levels of correlation with traditional markets and on July 9 the correlation between the and BTC reached a new all-time high.

Data from Skew shows that the one-year realized correlation reached 0.38 on Thursday, July 9 and this came after the metric had reached new highs earlier in the week.

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Elon Musk just surged past Warren Buffett on the list of the world’s richest people

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Elon Musk is now richer than Warren Buffett.

The fortune of Tesla Inc.’s founder rose $6.1 billion on Friday, according to the Bloomberg Billionaires Index, after the carmaker’s stock surged 11%. Musk is now the world’s seventh-richest person, also ahead of tech titans Larry Ellison and Sergey Brin.

The 49-year-old owns about a fifth of Tesla’s outstanding stock, which comprises the bulk of his $70.5 billion fortune. His majority ownership of closely held Space-X accounts for about $15 billion.

Shares of the electric car-maker have risen 269% this year. The firm’s booming valuation helped Musk land a $595 million pay-day earlier this year, making him the highest-paid CEO in the U.S.

Musk is the latest tech entrepreneur to rise above Buffett in the rank’s of the world’s richest. Steve Ballmer, the … Read More

BOJ to hold fire, stick to cautious optimism on economic outlook By Reuters

© Reuters. Bank of Japan Governor Haruhiko Kuroda speaks during a news conference, in Tokyo

By Leika Kihara

TOKYO (Reuters) – The Bank of Japan (BOJ) is set to keep monetary policy steady next week and offer a cautiously optimistic view on the economic outlook, signaling it has taken enough steps for now to cushion the blow from the coronavirus pandemic, sources told Reuters.

The BOJ may slightly cut its growth forecast for the current year to March 2021, but will stick to its view Japan is headed for a moderate recovery later this year as the pandemic’s impact subsides, the sources familiar with its thinking said.

“The economy will remain weak for some time but isn’t falling off a cliff,” one of the sources said.

“Risks to the outlook are skewed to the downside,” the source added, a view echoed by two others who spoke on condition of anonymity

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Upset that you missed the rally? Trying to play catch-up could be worse

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All of this can be avoided if you transition the expectations you put on your adviser from trying to beat “the market” to constructing a portfolio to generate a target return designed to meet your specific goals while taking as little risk as possible. These goals can include maintaining a particular lifestyle in retirement, building up a targeted estate value, or funding a charitable giving plan.

The benefit of goals-based benchmarking is that it removes emotional biases such as performance chasing.

When it comes to utilizing this approach, have a look at how you are strategically positioned, including global diversification, how your portfolio did during the worst crash since 2008, and how on track you are to meeting your target return. For those who haven’t made a financial plan, it can be a great first step in helping determine what that target should be in context of

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What the GOP has in mind for a second round of stimulus checks

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Hoping for another stimulus check in the mail from Uncle Sam? Depending on how much you make, you may be out of luck.

The Trump administration and Senate Republicans are reportedly considering a much slimmer follow-up stimulus package that would mean considerably fewer Americans receive direct payments, according to the Washington Post.

Nearly 160 million Americans received stimulus payments of up to $1,200 each under the CARES Act, the $2.2 trillion coronavirus aid package signed into law in March. While individuals earning up to $99,000 annually were eligible for some form of payment the last time around—with those earning $75,000 or less eligible for the full $1,200 check—any new stimulus bill would likely greatly reduce the number of Americans receiving assistance.

According to the Post, Republican … Read More

Coronavirus chill upends solar power industry By Reuters

© Reuters. Kauahou, a worker of the installation company Alromar, sets up solar panels on the roof of a home in Colmenar Viejo


By Nichola Groom, Isla Binnie and Nina Chestney

LOS ANGELES/MADRID/LONDON (Reuters) – The booming rooftop solar panel industry nosedived overnight when the coronavirus forced homeowners to rein in spending and keep their distance from would-be installers.

Now, in their struggle to survive, companies on both sides of the Atlantic are turning to online marketing rather than knocking on doors, using drones to inspect roofs, arranging digital permits and coming up with attractive new financing plans, according to interviews with 12 executives.

At stake is the future of a key driver of the global transition from fossil fuels to renewable energy: solar power was the second-fastest growing renewable source after wind in 2019, according to the International Energy Agency.

And rooftop installations, which generate electricity used

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