Bitcoin Prices Wild Ride: From Death Cross to a Near Bull Market. – Barron’s

Well, that was fast. Bitcoin has gone from a death cross to nearly a bull market in just a few short days.

Bitcoin formed that death crosswhat market technicians call the moment when the 50-day moving average drops below the 200-day moving averageover the weekend. It was a sign that more selling could be on the way.

And selling happened for a couple of days. Bitcoin went from more than $36,000 to less than $29,000 between Sunday and Tuesday, and had lost more than half its value from its all-time high.

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Then the selling stopped. Bitcoin is back near $34,000 Wednesday, an 18.5% bounce. Another 1.5 percentage points and Bitcoin will have gained 20%, which would qualify as a bull market.

Although with all the volatility, maybe typical bull and bear market designations dont apply to the cryptocurrency.

Al Root

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White House chief medical advisor Dr. Anthony Fauci called the Delta Covid variant the greatest threat to U.S. efforts to defeat the virus, with infections doubling about every two weeks.

Whats Next: Fauci said studies have shown that the Pfizer - BioNTech vaccine is 88% effective against the Delta variant two weeks after the second dose, and he urged Americans to get fully vaccinated to crush the outbreak.

Janet H. Cho

Investment bank Morgan Stanley told its staff on Tuesday that employees, clients, and visitors will have to prove they have been fully vaccinated before being allowed access to the firms offices in New York.

Whats Next: Morgan Stanley could follow Goldman Sachs in requiring employees to disclose their vaccine status. Such disclosure is voluntary at Morgan Stanley, as it is at JPMorgan.

Pierre Brianon

The Federal Trade Commission will review Amazon.coms planned takeover of the Hollywood studio MGM. The regulators new chair, Lina Khan, has been critical of the online retailers size and influence.

Whats Next: FTCs Khan, confirmed to the commission last week, made her name in antitrust circles by criticizing Amazon and broadly has argued that U.S. antitrust enforcement needs major changes to rein in dominant companies.

Liz Moyer

The median existing home price rose 23.6% to a record $350,300 in May, the highest year-over-year jump in at least 22 years, the National Association of Realtors said Tuesday. More buyers, lower borrowing rates, and fewer available homes pushed prices up.

Whats Next: Homes spent only about 17 days on the market in May, and sellers are getting multiple offers, fueled by low mortgage rates. More than half of homes sold above their list price in May, real-estate brokerage Redfin said.

Shaina Mishkin and Janet H. Cho

Peloton Interactive, once a stay-at-home darling, is shifting gears for the return to the office.

Whats Next: Some analysts have questioned whether Peloton can keep up its pandemic-fueled growth. Offering programs for large corporations could be one area for the company to attract new customers.

Connor Smith

Dear Quentin,

My fiance and I are currently in the process of planning a wedding, reassessing where wed like to buy a house. She is about to begin her 10-month unpaid internship in order to complete her Masters degree.

Throughout all of this, the biggest issue were facing is the wedding. We have been together for close to 11 years, and have been engaged for one year.

For the longest time, I thought we were on the same page---small wedding, no engagement photos, save the money, get a house, why go into marriage in debt?

As we begin to peel the layers of the onion, her thoughts have changed dramatically. She now envisions a wedding with 80-plus guests in a rented venue. She wants engagement photos. She wants to provide either plated or buffet food.

All of these things are adding up, even though we set a hard budget at $15,000, and we dont even have a quarter of that saved. I have money in stocks and I have savings, but I am strongly refusing to touch either of them for the sake of this joyous occasion.

Her parents have offered close to $10,000 to help, but I have insisted that money is better suited for a downpayment on a house when the time comes.

Im being looked at as simply someone who is unwilling to budge, and shes asked if I truly even want to get married.

How do I go about approaching this? I dont want to stonewall her at every turn. I want her to have an amazing day we remember for the rest of our lives, but shes yet to propose a plan on how we can save this money. I am beginning to feel as though shes looking at me to foot the bill almost entirely by myself.

Marriage sure does make love suck. Please tell me if Im pinching my pennies a little too tightly, or if Im right on the money.

Frustrated With Financials

Read The Moneyists response here.

Quentin Fottrell

Newsletter edited by Liz Moyer, Mary Romano, Matt Bemer, Ben Levisohn

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Bitcoin Prices Wild Ride: From Death Cross to a Near Bull Market. - Barron's