Bitcoin Hits 'Death Cross'
Photo by Executium / Unsplash

Bitcoin Hits 'Death Cross'

Plus, Intel shares some good news.

Steven Lerner
Steven Lerner

Today is Tuesday, January 11, 2022.

New to this newsletter? Sign up here.

Bitcoin Hits 'Death Cross' As Price Sinks

The price of Bitcoin dipped below $40,000 at one point on Monday, hitting the cryptocurrency’s “death cross” and sinking below a critical level watched by investors.

Definition: A “death cross” is a technical pattern that indicates an investment downturn. It usually refers to the 50-day moving average falling below the 200-day moving average.

Numbers: Bitcoin’s price peaked two months ago at around $69,000. Since then, the price has declined by 40%. Bitcoin has declined over 10% so far in 2022, the worst start for Bitcoin in a decade.

Catalyst: The selloff likely happened due to the Federal Reserve’s 2022 plans to trim its balance sheet and raise interest rates.

History: Past “death crosses” for Bitcoin signaled further declines on certain occasions. However, there were also times went it meant nothing.

Final Thoughts: Despite the selloff, many investors remain bullish that Bitcoin could reach $100,000 this year.


Notable Earnings Today: Albertson’s (NYSE: ACI), TD SYNNEX (NYSE: SNX), Kewpie (TYO: 2809), OrganiGram (NASDAQ: OGI).

Notable IPOs Today: Strategy Shares Halt Climate Change ETF (Nasdaq: NZRO), Fintech Ecosystem Development Corp. Class A Common Stock (Nasdaq: FEXD), Broad Capital Acquisition Corp Unit (Nasdaq: BRACU).

Notable Equity Crowdfunding Campaigns Ending Today: Wash Club LA (SMBX), SanMelix Laboratories (StartEngine), Octivity Fitness Collective (StartEngine), Goodwolf (MicroVentures), CheeseButta (SMBX).

Notable Economic Events Today: EIA Short-Term Energy Outlook (12:00 p.m. ET).

Intel Rises Thanks to New CFO

Intel Pentium i200
Photo by Kevin Woblick / Unsplash

Shares of Intel (Nasdaq: INTC) jumped 3.02% in after-hours trading on Monday after the technology giant announced that David Zinsner will be the company’s new chief financial officer.

Details: Zinsner was most recently the CFO for Micron (Nasdaq: MU). Shares of Micron dropped 1.11% in after-hours trading on Monday.

The Good: Having recently been upgraded by Northland Capital Markets, Intel seems like a good stock for value investors. It has a low price-to-earnings ratio and $17 billion in free cash flow.

The Bad: Profitability levels could be lower for Intel this year.

Final Thoughts: Intel’s earnings release is scheduled for January 26.

Is Bright Health Group’s Future Bright?

Bright Health Group (NYSE: BHG), which had its initial public offering in June 2021, is an insurance technology that is trying to turn this around after a tough year.

Numbers: Shares of Bright Health are down 81% since its public debut. The company is struggling to find support among investors.

The Good: The company is still growing. Last quarter, revenue increased 206%.

The Bad: Bright Health’s medical cost ratio was 103% due to Covid costs, which is bad for any insurance company. The company is still not profitable.

Final Thoughts: Last month, Bright Health solidified its finances by raising $750,000. Is that enough to turn this company around?

Going Public: Car-Sharing Service Turo Files for IPO Showing Revenue Jump (Bloomberg)

Dude, You’re Investing in Dell: Buy Some Dell Stock, an Analyst Says. Why Bernstein Is Now Bullish on the PC Maker. (Barron’s)

Potential Home Run: MLB ,Apple Reportedly Have Had 'Substantial Talks' to Broadcast Games for 2022 Season (Bleacher Report)

A Miner’s Market: Bitcoin’s Slump Is Good for Crypto Miners in Long Term, Jefferies Analyst Says (CoinDesk)

Finally: Republic Purchases .Com Domain, Provides Update on Performance, Plans for Future (Crowdfund Insider)

Thank you for reading!

Forward to a friend and tell them to sign up here.

Want more investing tips? Listen to the podcast.

Questions or comments? Hit reply to reach out.