The post Analysts Predict Nvidia’s Earnings Report appeared on BitcoinEthereumNews.com.

The financial community eagerly awaits Nvidia‘s forthcoming earnings report, a crucial indicator for both the technology and cryptocurrency markets. Nvidia’s announcement is expected to reveal whether the momentum behind the AI-driven bull market will continue or if it’s starting to wane, offering significant insights into the broader economic landscape. Nvidia’s Financial Projections Analysts surveyed by FactSet predict that Nvidia’s adjusted earnings per share for the second quarter may reach approximately 65 cents, with revenues possibly hitting $28.74 billion. This projected revenue would more than double Nvidia’s earnings compared to the same quarter last year, underscoring substantial growth. Access NEWSLINKER to get the latest technology news. Cryptocurrency Market’s Correlation Despite Nvidia’s promising outlook, there are indications that growth may be slowing, leading to uncertainty in Nasdaq. Correspondingly, the cryptocurrency market, which has maintained a positive correlation with the Nasdaq 100, has seen a marked decline, particularly in Bitcoin‘s value. Investment Strategies Affected The recent downturn in the crypto market resulted in liquidations worth $143.70 million over the past 24 hours, with $126.34 million linked to long positions. Additionally, open interest (OI) in the crypto futures market fell by roughly 1.80% during the same period. Given these market movements, several user-usable inferences can be drawn: High leverage trading is leading to substantial liquidations. Investors are closing positions, indicating market withdrawal. Market trends might trigger a rapid price decline due to stop-loss and margin call orders. Overall Cryptocurrency Trends Today’s decline in cryptocurrencies, led by Bitcoin, is a reflection of broader economic trends. The market has moved below the significant 200-day exponential moving average, currently valued at about $2.13 trillion. This downward trend suggests a potential decline toward the lower end of the channel, estimated between $1.80-$1.72 trillion. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be…

---

Filed under: News - @ August 28, 2024 1:12 am