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President Trump Will Unveil $1.5 Trillion Infrastructure Plan on Monday

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U.S. President Donald Trump will unveil his administration’s long-awaited infrastructure plan on Monday, fulfilling a core campaign pledge. Although the Trump White House is riding a wave of momentum following successful tax reform, the proposed infrastructure blueprint already faces major hurdles in Congress.

Trump Infrastructure Plan

President Trump’s infrastructure plan is said to be worth $1.5 trillion and will rely heavily on state and local spending. The proposal includes $200 billion in federal funding to leverage local and state buy-in to fix roads, highways and airports.

Infrastructure was an important theme in last month’s State of the Union address, Trump’s first since taking office.

“Every federal dollar should be leveraged by partnering with state and local governments and — where appropriate — tapping into private sector investment to permanently fix the infrastructure deficit,” Trump said at the Jan. 30 address.

The plan also seeks to unwind bureaucratic entanglements and speed up the federal permitting process to reduce the amount of time it takes for projects to get approved. Included in the proposal is $50 for rural projects, $20 billion toward public-private partnerships greater support for a financing program known as TIFIA.

Infrastructure spending under the new bill will be carried out over a ten-year period and is part of a broader plan to grow the U.S. economy by at least 3% annually. The Federal Reserve recently upped its forecast for GDP growth on anticipated tax reform; increased infrastructure spending could add to the Fed’s cautiously optimistic outlook.

Polarizing Congress

The Trump administration has faced stiff opposition in implementing its pro-growth agenda. That is unlikely to change on infrastructure given tax cuts, trade imbalances and the recent $300 billion funding deal fueling the nation’s deficit.

Democrats have already signaled their opposition to the bill on grounds that it shifts much of the burden to state and local governments. This sentiment is also shared by the Chamber of Commerce, which would like to see more federal dollars devoted to the plan by way of tax increases.

Democrats are also calling for new revenue measures to be implemented in support of the bill, including raiding the federal gas tax for the first time since 1993. Last week, Congressional Democrats called for $1 trillion in federal spending.

Investors will be watching the infrastructure debate intently over the next few weeks to determine whether pro-growth optimism can sustain the next leg of the bull market after last week’s epic collapse. Stocks shed more than 5% over the previous five days, capping off one of Wall Street’s worst weeks since the financial crisis.

In addition to rolling out the infrastructure blueprint this week, Trump is also scheduled to discuss the proposal with  both Democratic and Republican leaders on Wednesday.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 696 rated postsSam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world's foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam's work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Contact: sam@hacked.com Twitter: @hsbourgi




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Binance Coin Price Analysis: BNB Still in Trouble Despite Recent Strong Fundamental Prospects

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  • BNB/USDT moving within an ascending channel formation, subject to a breakout to the downside.
  • There is much anticipation ahead of Binance’s DEX launch, expected in early 2019.

Binance Coin (BNB) has made a decent recovery since being slammed in November and into the early part of December. The price had initially dropped a whopping 58%, before then being able to stabilize most recently on 7th December. Since, BNB has jumped as much as 20% to the upside, moving within an ascending channel formation. However, despite the gains of late, a similar bounce was initially seen on 25th November to 5th December, before another dump. BNB/USDT had tanked a chunky 35%, after this brief period of stabilization.

Strong Fundamental News Flow

The world’s largest exchange by traded volume will some be launching their own decentralized exchange (DEX), expected for early 2019. There is much excitement and buzz across the social media space for this to go live. The development team have already noted that their BNB will be moving from its ERC-20 token status, which is currently on the Ethereum blockchain. As a result, this will be transferred to their own proprietary blockchain, which is set to be called Binance Chain.

In terms of a decentralized exchange, this technology can facilitate a new type of pair matching, allowing users to be able to place orders in addition to trading cryptocurrencies. This can be done without the need of an intermediary institution, managing the ledger or even controlling the user’s funds.

Elsewhere, Binance recently announced that they will be adding a new feature for the benefit and to attract more institutional investors. They will have the facility to create sub-accounts on the Binance exchange. Finally, the company have also exercised further use of their token, BNB, as these can now be used via Tripio to secure bookings.

Technical Review – BNB

BNB/USDT 4-hour chart

Price action over the past six sessions now is moving within an ascending channel formation. This comes after the decent bounce from the low on 7th December, having dropped to a low of $4.1200. At the time BNB/USDT was very much oversold, dropping to 26 via the RSI on the 4-hour time frame. Technically, such moves are subject to a potential breakout to the downside.

Support Levels

BNB/USDT weekly chart

Near-term support should be noted at $4.8000, which is the lower part of the observed ascending channel. Further south, eyes would be on the 7th December low at $4.1200. BNB/USDT is already trading around the lower levels seen since December 2017. Lastly, should the above-mentioned be breached, then a fall to $3.2500 could be on the cards. This is a weekly support seen for 17th December 2017 week commencing.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 84 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Cardano Price Analysis: ADA Moving Within A Deadly Range Block

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  • ADA remains vulnerable to further downside pressure, and there is potential for another 50% drop.
  • IOHK launch two new Cardano tools, ‘Plutus’ and Marlowe for smart contract writing.

Cardano’s ADA price has been very much depressed for the past five weeks now, dropping well over 60% within this period. As a result, ADA/BTC it has been forced to trade around the lowest levels seen since December 2017. It still has yet to show any promising signs of it escaping this stubborn downside trend.

Over the past five sessions, the price has managed to stabilize, producing a near-term bottom within the $0.02800 region. Important to note, with the above-detailed, ADA/USDT price action is moving within a narrowing range-block. This is subject to a potential breakout, causing a deeper drop, as part of this bearish market.

IOHK Launch Two New Cardano Tools

Earlier this week, IOHK, the engineering company that builds cryptocurrencies and blockchains, announced two new tools. These will be for the writing of smart contracts on the Cardano network. The tools named Plutus and Marlowe have now been launched in test format. They have been introduced to provide great value of assistance for start-ups, financial services and fintech industries, and academia. In all cases, the tools allow for preparation of blockchain contracts which will run on Cardano.

Plutus

Plutus will be providing general purpose programming language and tools for Cardano. The scientists and engineers at IOHK were able to combine the discipline of the Haskell functional language with Cardano. As a result, the creation of a platform for fintech developers to write secure and robust smart contracts is being developed.

Marlowe

Marlowe is a streamlined way for non-programmers to generate code and create software products. It has been noted at an easy-to-use tool. Even professionals operating within the finance industry who do not have any programming experience can build these automated financial contracts on the blockchain.

There was full coverage on this and an exclusive interview with IOHK and Cardano’s Charles Hoskinson, on this. See more.

Technical Review – ADA

ADA/USDT 4-hour chart

Looking via the 4-hour char view for ADA/USDT, vulnerabilities remain to the downside. As touched upon earlier, following the steep falls through November into December, price action has found some firmer footing. However, with this consolidation state, a range-block has been formed, which is subject to exposure by the bears.

ADA/BTC weekly chart

The near-term support as part of this current range should be noted at $0.02800. If this fails to hold, there could be some chunky downside to come. Judging from ADA/BTC, there could be room for another 50% move south. Further south eyes would be on the next major area of comfort, seen at the 0.00000550 region.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 84 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Zcash Price Analysis: ZEC/USD Shaping Up for Another Potential Fall; Coinbase Giving Zcash Away

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  • Zcash saw a decent bounce on Wednesday, jumping over 6%, but technical there are still some vulnerabilities.
  • Coinbase as part of their ‘12 days of Coinbase’ campaign, will be giving away ZEC to families in need in Venezuela.

ZEC/USD enjoyed a string of gains on Wednesday, jumping as much as 6% in the session. This appears to be somewhat of a consolation move for the bulls, as the sellers look to be exhausted. There has been little direction since the heavy pressure to the downside slowed down and stabilized on the 7th December. The price through the month of November dropped a hefty 63%, with that being carried through into December.

Coinbase Giving Away ZEC

Just a couple of weeks ago the popular U.S. cryptocurrency exchange Coinbase announced the listing of ZEC. They are now facilitating ZEC trading via Coinbase Pro, the proprietary trading platform. The service was made available for Coinbase Pro users in the U.S, U.K, the European Union, Singapore, Australia and Canada. On the back of this, ZEC/USD had jumped as much as 20% over the course of the day, following the announcement.

Most recently, Coinbase launched a Christmas campaign, which entails a series of announcements, dubbed “12 days of Coinbase.” Today was the second day, in which they detailed a gift in aid for distressed families in Venezuela. To provide help to these families, Coinbase will be donating $10,000 in Zcash to GiveCrypto.org. This is a nonprofit organization, which distributes cryptocurrency to people within poverty struck living conditions. $1.00 USD worth of ZEC will be deposited into crypto wallets of over 100 families in Santa Elena every day for three months.

Technical Review – ZEC/USD

ZEC/USD 4-hour chart

As touched upon above, ZEC/USD had been provided with a relief bounce in the session. However, price action is still moving within a bearish pennant pattern structure. This has been forming since the 7th December, within this consolidation mode. Price action is narrowing following the steep drop just some days ago. Technically, it does typically spell further potential trouble when behavior is as such currently seen – generating a calm before a further potential storm caused by the rampant bears.

ZEC/USD weekly chart

Given the above-mentioned pattern formation, ZEC/USD is vulnerable to another steep drop. Near-term support of this pennant should be noted at around $54.60. Should the bears manage to force a break, then expect the flood gates to open. A further wave of selling would likely follow, with the next major area of support, not seen until the $30 territory. The price was last down at these levels in February 2017. A demand zone can be seen running from $35 down to $26.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 84 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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