The Vanguard MSCI Index International Shares ETF (ASX: VGS) has seen a sizeable drop in 2022. It’s down by around 16% since the start of 2022.

For an exchange-traded fund (ETF), that’s a pretty hefty drop considering it represents a whole group of businesses.

How many businesses are in the VGS ETF? More than you can count on two hands, or even 100 hands. At the end of May 2022, there were 1,474 businesses in the ETF’s portfolio.

That’s a lot of underlying diversification in just one investment. The diversification is one of the main reasons to like the Vanguard MSCI Index International Shares ETF in my opinion.

The purpose of this ETF is about providing exposure to many of the world’s largest companies listed in major developed countries, according to Vanguard. Vanguard is one of the world’s largest asset managers and aims to provide cheap investment options for investors.

There are a few different reasons why I think this could be a good time to consider this compelling ETF, besides the high level of its holdings.

Geographic and industry diversification

One of the attractive things about this ETF is how the holdings come from around the globe. Of course, the US still gets the lion’s share (70%) of the allocation because that’s where a majority of the world’s biggest businesses are. But I like that approximately 30% of the portfolio is invested in other markets.

The following countries have an allocation of at least 2%: Japan (6.2%), the UK (4.5%), Canada (3.7%), France (3.2%), Switzerland (2.9%), and Germany (2.3%).

There are also a number of other countries with a weighting of more than 0.5%: the Netherlands, Sweden, Hong Kong, Denmark, Italy, and Spain.

But it’s not just geographic diversification that the ETF offers. It’s also spread across a wide array of industries. This means that during times like 2022, some gains in some industries (like energy) can offset the decline in other sectors (like IT).

I think the risks are lowered with the VGS ETF being invested across a number of sectors. At the end of May 2022, there were five sectors that had a double-digit weighting: IT (21.8%), healthcare (13.5%), financials (13.4%), consumer discretionary (10.8%), and industrials (10%).

Cheaper valuation

It’s easy enough to say a lower price is better.

However, with rising interest rates, the price of many businesses looks more compelling when looking at the price/earnings (P/E) ratio.

I think that a lower P/E ratio is more attractive when it comes to an index fund like this one.

At the end of May 2022, Vanguard MSCI Index International Shares ETF had a P/E ratio of 17.4 times. I think that’s a reasonable number considering the quality of its portfolio.

Quality holdings

Many companies in the VGS portfolio have attractive long-term growth potential, featuring numerous industry leaders in the US or even globally.

I’ll list the top 10 holdings: Apple, Microsoft, Alphabet, Amazon.com, Tesla, Johnson & Johnson, UnitedHealth, Nvidia, Meta Platforms, and Berkshire Hathaway.

To highlight how financially strong the businesses in the portfolio are, let’s look at the return on equity (ROE) ratio. This essentially measures the profit generation of the business, compared to how much shareholder money is invested/retained in the business. At May 2022, the Vanguard MSCI Index International Shares ETF had a ROE of 18.1%. That’s attractive in my opinion.

Foolish takeaway

While it’s possible that the VGS ETF could drop further, I believe this lower level now represents a good, long-term buying opportunity. Plus, it has an annual management fee of 0.18%, which is good value for what it offers in my opinion.

The post I think the 16% drop in 2022 makes this Vanguard ETF a buy appeared first on The Motley Fool Australia.

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More reading

• Here are 2 top ETFs to boost your portfolio
• Here are 2 top ETFs for ASX investors next week
• What dividend yield is the Vanguard MSCI Index ETF offering to ASX investors?
• What do you get when you invest in the VGS ETF?
• 3 popular ETFs for ASX investors to buy now

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Berkshire Hathaway (B shares), Microsoft, Nvidia, Tesla, and Vanguard MSCI Index International Shares ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Johnson & Johnson and UnitedHealth Group and has recommended the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), long March 2023 $120 calls on Apple, short January 2023 $200 puts on Berkshire Hathaway (B shares), short January 2023 $265 calls on Berkshire Hathaway (B shares), and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Berkshire Hathaway (B shares), Nvidia, and Vanguard MSCI Index International Shares ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Lynas Rare Earths Ltd (ASX: LYC) share price was a true outperformer in the 2022 financial year (FY22).

The S&P/ASX 200 Index (ASX: XJO) rare earths producer kicked off FY22 trading for $5.71. By the closing bell on 30 June 2022, it was trading for US$8.73, a gain of 53% over the 12 months.

That performance is even more impressive with the ASX 200 itself falling some 10% in FY22.

Based out of Perth, Lynas is the second-largest producer of rare earths on the planet. It also counts as the only significant rare earths producer outside of China. The company’s Australian concentration plant is located at Mt Weld, Western Australia. It has an advanced materials plant in Malaysia’s Gebeng Industrial Park.

Lynas share price hits multi-year high in FY22

If not for the big retrace in June, which saw the Lynas share price fall 11% amid a wider market sell-off among materials and resources shares, the numbers for FY22 would be even hotter.

In fact, on 4 April, the company hit multi-year highs, closing at $11.39 per share.

The Lynas share price has certainly benefited from the West’s push to break China’s monopoly on rare earths, which consist of 17 different elements.

The various metals are critical for the production of all sorts of technology, from computers and smartphones to a range of modern military hardware. That’s seen the Australian Federal Government list rare earths among its critical mineral designations.

It’s also seen investors turn their attention to ASX rare earths explorers and producers as the price of rare earth elements has rocketed.

Record quarterly sales amid higher prices

In April the Lynas share price received a boost when the company reported exceptionally strong quarterly results for the three-month period ending 31 March.

Sales and production were both up as were the prices it obtained for its products.

Lynas reported quarterly sales revenue of $327.7 million. That was an increase of 61.7% from the same quarter in FY21 and a new quarterly record.

The company also realised a 17.5% year-on-year increase in its total rare-earth-oxide (REO) production and a 24.1% increase in its Neodymium-Praseodymium (NdPr) production, setting another quarterly record.

This came as the average selling price it achieved came in at $64.7 per kilogram, up more than 82% year-on-year.

The post The Lynas share price soared 53% in the 2022 financial year. Here’s what happened appeared first on The Motley Fool Australia.

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More reading

• Why did the Lynas Rare Earths share price tumble in June?
• Own Lynas shares? Here’s the latest challenge faced by the rare earths miner
• Mineral Monday: What you need to know about rare earths and which ASX shares are cashing in on them
• Guess which ASX 200 mining shares these experts are backing
• How is the Lynas share price performing against its sector this month?

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It’s been a rough time of late for the Nickel Industries Ltd (ASX: NIC) share price. Nickel Industries (formerly known as Nickel Mines) ended up closing at 94 cents a share today, down 1.57% from Friday’s close of 96 cents. That puts the company’s shares down around 35% year to date, as well as down more than 10% over the past 12 months.

So why have Nickel Industries shares been in the wars of late? There have been a few things going on in the nickel space. As my Fool colleague Monica looked into last month, nickel markets were roiled earlier this year when nickel was caught in a short squeeze. This saw a dramatic spike, followed by a plunge, in the nickel price.

That overshadowed what was arguably a positive quarterly result in late April. This saw Nickel Industries report a 10.7% rise in nickel production, as well as an 18.7% lift in earnings before interest, tax, depreciation, and amortisation (EBITDA) to US$81.7 million.

So after such a rough patch for Nickel Industries, what might the future hold for this nickel miner?

Is the Nickel Industries share price a buy today?

Well, one broker reckons the Nickel Industries share price could more than double its current level over the next 12 months. As my Fool colleague James covered last week, ASX broker Bell Potter is currently very bullish on Nickel Industries shares.

The broker currently rates the company as a “buy”, with a 12-month share price target of $2 a share. That would represent an upside of almost 113% on the last share price.

Here’s some of what Bell Potter said about the company:

Despite rising input costs in CY22 [the 2022 calendar year], NIC has been able to maintain and expand margins and following the successful commissioning of the Angel Nickel Project, NIC is on track for earnings growth of over 60%…

NIC is trading on undemanding valuation multiples and remains one of our Top Picks for CY22.

So that’s a pretty unambiguously bullish opinion there from Bell Potter. No doubt investors would be delighted to hear it too. But we shall have to wait and see what the next 12 months hold in store for this company.

At the current Nickel Industries share price, this ASX 200 nickel share has a market capitalisation of $2.56 billion, with a dividend yield of 2.97%.

The post Could the Nickel Industries share price more than double from here? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why are Lake Resources shares becoming a short seller target?
• Here are the 5 best ASX 200 bank shares of FY22
• ASX 200 mining shares glide lower as expert reduces commodity targets

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) mining and tech shares weighed on the market on Monday. The ASX 200 index was 1.14% lower at 6,602.20 points when the market closed.

Its suffering came on the back of a mixed session on Wall Street. The S&P 500 slipped close to 0.1% on Friday while the Dow Jones Industrial Average fell 0.15%. Meanwhile, the NASDAQ Composite rose 0.12%.

The S&P/ASX 200 Materials Index (ASX: XMJ) plunged more than 2% on Monday, potentially on the back of falling base metals. Iron ore futures lifted 0.4% on Friday to trade at US$113.76 – 1.3% lower than it ended the previous week.

Today wasn’t much better on the S&P/ASX 200 Information Technology Index (ASX: XIJ). The sector also plunged more than 2% on Monday, driven lower by the EML Payments Ltd (ASX: EML) share price’s 24% tumble. The company notified the market of its CEO’s unexpected departure this morning.  

The S&P/ASX 200 Energy Index (ASX: XEJ) posted a slight gain today, potentially on the back of higher oil and coal prices.

At the end of Monday’s trade, two of the ASX 200’s 11 sectors were in the green.

But not all shares suffered today. Read on to find out which ASX shares bested the rest to post Monday’s biggest gains.

Top 10 ASX shares countdown

Perhaps unsurprisingly, the top performer among ASX’s 200 biggest companies by market capitalisation is coal producer New Hope Corporation Limited (ASX: NHC).

The company’s share price lifted around 5% today, likely due to rising coal prices. Read more about New Hope Corporation here.

The Meridian Energy Ltd (ASX: MEZ) share price was the second best performer, gaining around 4%. Catch up on what’s been happening with Meridian Energy here.

Today’s top 10 biggest gains were made by these ASX shares:

ASX-listed company	Share price	Price change
New Hope Corporation Limited (ASX: NHC)	$3.79	5.28%
Meridian Energy Ltd (ASX: MEZ)	$4.41	4.5%
Summerset Group Holdings Ltd (ASX: SNZ)	$9.36	4.23%
Suncorp Group Ltd (ASX: SUN)	$11.25	1.81%
Shopping Centres Australasia Property Group Ltd (ASX: SCP)	$2.87	1.41%
Sonic Healthcare Limited (ASX: SHL)	$33.75	1.35%
Vicinity Centres (ASX: VCX)	$1.90	1.33%
Whitehaven Coal Ltd (ASX: WHC)	$5.09	1.19%
Scentre Group (ASX: SCG)	$2.75	1.1%
Magellan Financial Group Ltd (ASX: MFG)	$12.01	1.02%

Data as at 3:59 pm AEST.

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

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More reading

• Could the Nickel Industries share price more than double from here?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why Althea, AnteoTech, New Hope, and Omni Bridgeway shares are pushing higher
• Why are Lake Resources shares becoming a short seller target?
• Here are the 5 best ASX 200 bank shares of FY22

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended EML Payments. The Motley Fool Australia has positions in and has recommended EML Payments and Shopping Centres Australasia Property Group. The Motley Fool Australia has recommended Sonic Healthcare Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Breville Group Ltd (ASX: BRG) share price started the week in the red.

The appliance manufacturer’s shares ended the day almost 2% lower at $19.45.

This means the Breville share price is now down 40% in 2022.

Is the Breville share price weakness a buying opportunity?

One leading broker that sees the weakness in the Breville share price this year as a buying opportunity is Goldman Sachs.

According to a note, the broker has just initiated coverage on the company’s shares with a buy rating and $23.40 price target.

This price target implies potential upside of over 20% for investors over the next 12 months.

What did the broker say?

Goldman notes that the Breville share price has fallen heavily this year and is thoroughly underperforming the market. It believes investors are “concerned that it was a key beneficiary during COVID in-home consumption and that reopening could result in weakness from consumption.”

However, Goldman doesn’t believe this will be the case and expects its solid growth to continue thanks to a three-pronged growth strategy.

It explained:

We believe that the portioned and R&G coffee market will experience more secular growth than the market has factored in with continued upgrading from soluble coffee and added penetration of out-of-home (e.g. hotels, workplace). We see BRG as having a three-pronged growth strategy: 1) building on secular growth of the portioned and roast & ground (R&G) coffee market and achieving market share gains; 2) new market entry; and 3) options – ecosystem revenue streams.

Overall, the broker believes that this will underpin “a FY22-24e 10.4% sales CAGR and 14.9% NPAT CAGR with ROIC in 2024 of 28.9%.”

In light of this, it sees plenty of value in the Breville share price following recent weakness.

The post Top broker says Breville share price weakness is a buying opportunity appeared first on The Motley Fool Australia.

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More reading

• Here are 3 excellent ASX growth shares for investors to buy in July
• Here are the top 10 ASX shares today
• Why APM, Block, Breville, and Superloop shares are charging higher
• ASX 200 midday update: Suncorp’s update, Magellan sinks
• Is the Breville share price out of the bargain bin?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Resmed Inc (ASX: RMD) share price had a year of ups and downs on the market, finishing around 6% in the red.

Resmed shares reached a 52-week high of $40.28 on 23 August and, after heading sideways for a short time afterwards, began their journey south.

In broader market moves, the S&P/ASX 200 Health Care Index (ASX: XHJ) is down more than 7% year to date.

What happened with the Resmed share price in FY22?

Shares in the sleep treatment company saw a series of paper losses last financial year.

After falling off its 52-week high, outlined above, the Resmed share price continued its descent and finished at a 52-week low of $27.63 on 27 May.

It was a fairly quiet year in terms of news for the company so it was no surprise to see its share price track closely to the wider healthcare sector’s performance.

Healthcare shares as a whole weakened around September 2021. Losses were compounded in the January selloff and there’s been a slow recovery ever since.

As seen on the chart below, the healthcare index and the Resmed share price both entered a period of peaks and troughs throughout the year.

The pair have tracked remarkably closely over the past 12 months to finish down in FY22.

Despite its share price struggles in FY22, analysts are still bullish on Resmed shares. Morgans rates the company a buy and says it liked the outlook on Resmed’s “unique, patient-centric, connected-care digital platform”.

In all, eight brokers are saying Resmed shares are a buy whereas six say the company’s shares are a hold right now, according to Bloomberg data.

The post Why did the ResMed share price finish down in FY22? appeared first on The Motley Fool Australia.

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More reading

• 4 ‘quality’ ASX shares to buy in scary times: expert
• Here’s how ASX healthcare shares performed in FY22
• Why this broker is tipping the ResMed share price to rise 17%
• Pricing power: 2 ASX shares that can fight stagflation
• Best ASX shares to buy in July 2022

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It’s been a depressing start to the week for ASX shares this Monday. At market close, the All Ordinaries Index (ASX: XAO) has lost more than 1.2% of its value. But it’s been even worse for the Vulcan Energy Resources Ltd (ASX: VUL) share price.

Vulcan shares have finished the day down a painful 6.1% at $5.39 a share, pitifully underperforming the broader markets. So what’s going on with this ASX lithium stock?

Well, we can’t quite be sure. There’s been no news out of Vulcan today at all. We haven’t heard from the company since its announcement last week.

At the time, Vulcan announced that it had entered into an agreement with an Italian renewable energy company, Enel Green Power, to “explore the development of the Cesano licence”. Enel took a 50% stake in the Cesano license, which is close to Rome in Italy. On Friday last week, we covered how the Vulcan share price lept 8% on this news.

Why is the Vulcan share price down 6% today?

But after today’s movements, Vulcan shares have given up Friday’s gains and more. At today’s closing share price of $5.39, Vulcan shares are now down 48% in 2022 so far. The company also just recorded a loss of almost 30% for the 2022 financial year.

So perhaps we can explain Vulcan’s losses by looking at the other ASX lithium shares on the market. And we do seem to be seeing a pattern. Vulcan is not the only ASX lithium stock bleeding today.

Take Pilbara Minerals Ltd (ASX: PLS). Its shares finished down 2.55%. Core Lithium Ltd (ASX: CXO) lost 3.16%, while Liontown Resources Limited (ASX: LTR) fell 2.94%.

So even though Vulcan’s losses are far more than its peers, it seems the company has just been swept up in a rejection of ASX lithium stocks by investors today. No doubt shareholders will be hoping for a better day tomorrow.

At the current Vulcan Energy Resources share price, this ASX lithium stock has a market capitalisation of more than $768 million.

The post Why has the Vulcan share price lost a nasty 6% today? appeared first on The Motley Fool Australia.

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More reading

• Why Pro Medicus, St Barbara, Vulcan, and Whitehaven Coal are pushing higher
• Vulcan Energy share price leaps 8% on Italian energy producer agreement
• Why did the Vulcan Energy share price crater 28% in June?
• Down 8%, why is the Vulcan Energy share price burning away today?
• How is the Vulcan share price performing against its sector this month?

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Computershare Limited (ASX: CPU)

According to a note out of Morgans, its analysts have upgraded this stock transfer company’s shares to an add rating with a $27.53 price target. Morgans has boosted its earnings estimates to reflect the improving outlook for interest rates. It expects this to allow the company to deliver a solid FY 2022 result and strong earnings growth in FY 2023. The Computershare share price is trading at $24.23 on Monday.

Harvey Norman Holdings Limited (ASX: HVN)

A note out of Goldman Sachs reveals that its analysts have retained their buy rating but cut their price target on this retail giant’s shares to $4.50. While the broker has revised its earnings estimates lower, it expects the company’s attractive valuation and high dividend yield to attract investors back into the stock. It also believes the company has ~$1.2 billion for potential bolt-on acquisitions or expanded capex for growth investments. The Harvey Norman share price is fetching $3.85 today.

WiseTech Global Ltd (ASX: WTC)

Analysts at Ord Minnett have upgraded this logistics solutions technology company’s shares to a buy rating with a $52.00 price target. The broker made the move on valuation grounds. It appears to see recent weakness in the tech sector as a buying opportunity for investors. The WiseTech share price is down over 30% in 2022 and currently trading at $40.88 on Monday afternoon.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• Here are 2 ASX 200 dividend shares analysts rate as buys
• Here are the top 10 ASX shares today
• Why are ASX 200 tech shares sprinting higher today?
• Top broker picks two ASX 200 tech shares for today’s economy
• Here are the top 10 ASX shares today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Harvey Norman Holdings Ltd. and WiseTech Global. The Motley Fool Australia has positions in and has recommended Harvey Norman Holdings Ltd. and WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Aurumin Ltd (ASX: AUN) share price is on the move today.

This comes after the Australian gold miner released its first assays results from its wholly-owned Central Sandstone Gold Project.

At the time of writing, Aurumin shares are up 34.78% to 15.5 cents apiece.

What were the results?

In its release, Aurumin announced that assay results were returned for the first hole from its current drilling campaign.

The goal of the reverse circulation (RC) and diamond drilling program is to extend and better define the existing mineral resource estimate (MRE) at Two Mine Hill.

On the first hole, RC drilling took place as a pre-collar to a depth of 109.5 metres before the diamond drilling took over. This was extended to a depth of 582.5 metres.

The visible gold showed a total intersection of 344 metres at 1.29 grams per tonne (g/t) of gold (Au).

A breakdown of these results includes:

• 40.9 meters at 2 g/t Au from a depth of 243.5 metres
• 21.8 meters at 2 g/t Au from a depth of 363.9 metres
• 16.1 meters at 2.9 g/t Au from a depth of 409.9 metres
• 19.3 meters at 2 g/t Au from a depth of 528.7 metres
• 22.2 meters at 2.5 g/t Au from a depth of 555 metres

Aurumin managing director, Brad Valiukas touched on the outstanding result saying:

We are very happy with how Sandstone is progressing. We have been expanding our tenement footprint, looking for new deposits and advancing the 500koz Au Two Mile Hill underground deposit with deep holes.

This is a great result from our first hole at Two Mile. We look forward to further results, with the 4th diamond drill hole and programme now completed.

We continue to see the Two Mile Hill underground deposit as a key part of the project going forward, with the scale to potentially underpin future production.

Aurumin share price summary

Despite today’s euphoric gains, it has been a disappointing 12 months for Aurumin investors.

The company’s shares are down 22.5% since this time last year, with year-to-date falling almost 14%.

Aurumin presides a market capitalisation of roughly $12.56 million.

The post Here’s why the Aurumin share price is skyrocketing 35% on Monday appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Bitcoin (CRYPTO: BTC) price is down 3% since this time yesterday, currently trading for US$20,516 (AU$30,018).

Despite the retrace, the world’s top crypto by market cap remains up for the full week, having traded as low as US$19,341 last Monday.

However, as you’re likely aware, Bitcoin remains well-down from its 10 November all-time highs of US$68,790.

So, with the Bitcoin price having tumbled 70% since November, could it be looking at another 50% fall from here? Or is the world’s original token set for a 50% leap instead?

Wall Street surveyed on outlook for Bitcoin price

That’s the multi-billion dollar question the MLIV Pulse Survey set out to answer.

The survey, which took place over four days last week, asked 950 retail and institutional investors on Wall Street whether they expect the Bitcoin price to trade for US$10,000 or US$30,000 first.

With rising inflation and interest rates in mind, and the big sell-off that’s already seen in risk assets like high growth tech shares and cryptos, 60% of respondents said they believe the top crypto is more likely to fall to US$10,000 than rocket back to US$30,000.

As Bloomberg noted, retail investors were more sceptical about the broader crypto market than professional investors, with 24% of retail investors agreeing that “all cryptos are garbage” compared to 18% of institutional investors.

On the bullish side, 26% of professional investors believe “cryptocurrencies are the future”, compared to 23% of retail investors.

As for when the Bitcoin price might bottom?

Searching for the lows

In commentary unrelated to the MLIV Pulse Survey, Marcus Sotiriou, analyst at GlobalBlock, reiterated the correlation between the tumbling Bitcoin price in 2022 and the abrupt return of higher than expected inflation in the United States, the world’s top economy.

According to Sotiriou (quoted by Bloomberg):

The only Bitcoin bottom signal for me is persistent data showing us that inflation is convincingly inflecting down. This should result in the Federal Reserve becoming less aggressive with their monetary policy, and therefore provide confidence that the liquidity crisis in the crypto market is over.

The latest inflation data out of the US is due Wednesday evening, Australia time.

The post Is the Bitcoin price heading down to US$10,000? Here’s Wall Street’s take appeared first on The Motley Fool Australia.

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More reading

• What went so right and so wrong for the Bitcoin price in the 2022 financial year?
• Why did the Bitcoin price crash 41% in June?
• Why Bitcoin stocks crashed (again) last month
• How did the price of crypto assets perform in June?
• Here’s what will impact the Bitcoin price in July: expert

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin. The Motley Fool Australia has positions in and has recommended Bitcoin. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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