5-Minute Stocks & Cryptocurrency Market Update - Both Markets Rally Today

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Crypto Market Updates 

After an extensive period of limited action, Bitcoin finally got the bump that many of its holders were hoping for. Over the course of just 24 hours, Bitcoin was able to increase by more than 30 percent and even briefly broke the $10,000 mark. Since then, the coin’s price has stabilized, but there are still plenty of investors rooting for another rally later this week.   

On a scarier note, the Chinese government announced that it wants its members to prove their loyalty to the party via blockchain. We’ll see if trends like this grow into something larger. We’ll also see how China—the world’s most populated country—can manipulate various crypto markets.

One exciting story to emerge this week came from Bakkt, who announced plans to deliver a consumer-friendly crypto app in the beginning of 2020. The proposed app can be used for a wide range of consumer transactions, including paying for coffee at Starbucks. As long as apps like these keep up with their successful developments and launches, crypto technology can be expected to continue its gradual push into mainstream society. 

Stock Market Updates 

Following a week full of positive earnings statements—especially coming from companies within the tech industry—most of the stock market’s major indexes once again worked their way into record breaking territory. The S&P 500 is once again above the 3,000-point park and is trading near its highest values of all time.

One of the big winners from last week was Microsoft. Not only did the company release some impressive financial reports, but it was also awarded a multi-billion-dollar contract from the Federal Government (beating out Amazon in a stiff competition). Another blue-chip stock that enjoyed a bump this week was AT&T, who has enjoyed a new wave of stability that some outsiders might call surprising.  

There are still plenty of important earning statements due this week, so you can expect to see the market continue experiencing an above average level of movement. Keep a close eye on how Google addresses its increased costs and declining profits, despite the fact that revenues have been on the rise. As long as you can pay attention to the markets, you’ll find plenty of opportunities to earn a profit.

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