With September in full swing and market action picking up, let’s look back at this week’s top stories from the investing world in our editor’s choice.
Why did Bitcoin fall?
As Bitcoin’s price continued to fall, nearing an 11-week low, our Head of Research, Dan Ashmore, took a deep dive into why Bitcoin was falling.
Both macro and micro factors are explored in the Bitcoin analysis with a look ahead at what’s next for the grandaddy of digital assets.
Read more on why Bitcoin fell here
On-chain roundup: Long-term Bitcoin holders increasing
Staying with Bitcoin. Despite stagnation in price, Invezz reported this week on the consistent growth of long-term holders of Bitcoin.
Approximately 14.7 million Bitcoin are now held by what Glassnode deems as long-term holders, translating to 75% of the total circulating more and representing an increase of around 700,000 Bitcoin since April this year.
Read more on the long-term Bitcoin holders increasing here.
Sugar price rockets higher as supply concerns continue
Following last week’s Orange Juice rally on the back of Hurricane Idalia hitting Florida, USA, this week, it was the turn of Sugar.
A key concern in sugar’s supply chain is India, which has been hit with uneven weather conditions over the past few years. India, the world’s second-biggest producer of sugar, is expected to see its sugar output drop by more than 32.8 million metric tons this year.
Invezz analyst Crispus Nyaga takes a deep dive into whether the bullish sugar rally can last.
Read more on the sugar price analysis here
Turkey sees increased crypto adoption amid troubling inflation: report
Amid crippling inflation, Turkish people are turning more and more to cryptocurrencies.
Exchange KuCoin’s recent report shows the nation’s crypto adoption rate has increased to 52% from 40% within the past two years, whilst the value of the Turkish Lira against the US Dollar has plummeted over 50%.
Read more on Turkish crypto adoption here.
Apple stock outlook: LightShed analyst warns of a 33% downside
In a week that saw China imposing further restrictions on iPhones in China, Walter Piecyk – a Senior Analyst at LightShed Partners, has a “sell” rating and sees further trouble ahead for Apple and its stock price.
Piecyk sees downside in Apple stock to $120 – a price objective that suggests it could tank a whopping 33% from here.
Read more on the Apple stock outlook here.
Saudis extend voluntary oil production cut again: ‘focus more on natural gas’
With oil approaching $88 a barrel, Saudi Arabia announced plans this week to extend its voluntary production cut through the remainder of this year.
It seems with oil production being cut, natural gas will be a lot more in focus for the Middle Eastern country.
Read more on the Saudi voluntary oil cut extension here
What landmark decisions were made on Day 1 of the G20 summit?
As the first of a two-day G20 drew to a close, Invezz took a deep dive into what landmark decisions were made.
With the Russian war against Ukraine taking centre stage, the G20 Summit also saw the unveiling of a new global infrastructure and investment platform – the India – Middle East – Europe (IMEC) Economic Corridor, otherwise known as the ‘new spice route.’
Day 1 saw three bilateral meetings between PM Modi, as chair of the G20, with Fumio Kishida, PM of Japan; Rishi Sunak, PM of the UK, and Giorgia Meloni, PM of Italy.
Read more on what was discussed and agreed on Day 1 of the G20 Summit here.
The post Bitcoin, sugar price, Apple, Turkish crypto and more: Editor's choice appeared first on Invezz
