The Paladin Energy Ltd (ASX: PDN) share price jumped today despite no official news from the company. Paladin shares closed the session up 9.09% to 72 cents. So what’s been going on with the ASX uranium miner?

What’s going on with Paladin?

Since the beginning of the year, the Paladin share price has dropped by 24%. And it’s continued on a downward trend. This has coincided with a 7% dip in the value of uranium since mid-January. The current spot price is US$42.70 per pound.

The last news we heard from Paladin was its activities and cash flow report for the December quarter. In it, the miner revealed a cash position of US$38 million and no corporate debt.

Looking at its activities, it reported plans to restart its West African uranium operations but no set date was provided. It also planned to explore “value enhancement opportunities” across its “broader asset portfolio” in Australia and Canada.

Paladin CEO Ian Purdy said:

The improving structural outlook for uranium markets and the transition towards the decarbonisation of global electricity generation provides the platform for an exciting period ahead for Paladin and I look forward to updating you on our progress.

Last Tuesday, the S&P/ASX 200 Energy Index (ASX: XEJ) fell by 3.1%, despite oil hitting its highest price since 2014 — possibly in response to the threat of war between Russia and Ukraine. Paladin was one of the worst-performing large-cap energy stocks of the day, falling by 4.1%.

Paladin share price snapshot

Over the past 12 months, the Paladin share price has increased by 95%. Shares were trading as low as 36 cents around this time last year and as high as $1.12 in September.

The company has a market capitalisation of $1.76 billion.

The post Why did the Paladin Energy (ASX:PDN) share price surge 9% today? appeared first on The Motley Fool Australia.

More reading

• Why did ASX 200 energy shares weigh on the index today?
• Why has the Paladin Energy (ASX:PDN) share price tumbled 15% in a month?
• These 3 ASX 200 shares are topping the volume charts on Friday

Motley Fool contributor Alice de Bruin 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 Bruce Jackson.

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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

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

Cochlear Limited (ASX: COH)

According to a note out of Citi, its analysts have upgraded this hearing solutions company’s shares to a buy rating and with an improved price target of $235.00. This follows the release of a half year result that came in ahead of the broker’s expectations. This has led to Citi upgrading its estimates and valuation accordingly. The Cochlear share price is trading at $218.00 today.

Coles Group Ltd (ASX: COL)

A note out of Morgans reveals that its analysts have retained their add rating but trimmed their price target on this supermarket operator’s shares slightly to $19.70. Morgans notes that Coles’ half year results were largely in line with expectations. It was also particularly pleased with its lower than expected COVID costs. Overall, Coles remains its key pick in the supermarkets sector. The Coles share price was fetching $17.85 on Wednesday.

Telstra Corporation Ltd (ASX: TLS)

Analysts at Morgan Stanley have retained their overweight rating and $4.60 price target on this telco giant’s shares. This follows news that Telstra has signed an agreement with TPG Telecom Ltd (ASX: TPG) that will see the latter shares its mobile network. Morgan Stanley is a fan of the deal and believes it will be earnings per share accretive for Telstra and raise the value of its infrastructure assets. The Telstra share price is trading at $4.02.

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

More reading

• The market responds to Russian aggression and COVID costs crimp Coles. Scott Phillips on Nine’s Late News
• These 3 ASX 200 shares are topping the volume charts this Wednesday
• ‘Clear leader in a defensive industry’: Cochlear (ASX:COH) share price jumps on broker upgrade
• Here are the top 10 ASX shares today
• ASX 200 tech shares take a hammering as Ukraine fears escalate

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. owns and has recommended Cochlear Ltd. The Motley Fool Australia owns and has recommended COLESGROUP DEF SET and Telstra Corporation Limited. The Motley Fool Australia has recommended Cochlear Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Adore Beauty Group Ltd (ASX: ABY) share price is surging upwards today despite no news from the company.

It follows last week’s release of the company’s earnings for the first half of financial year.

This week, however, the online cosmetic retailer is in the headlines for a different reason today.

At the time of writing, the Adore Beauty share price is $2.22, 8.29% higher than its previous close.

That’s lower from its intraday high, though. The stock hit $2.33 earlier today, representing a 13.6% gain.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.2%. Meanwhile the All Ordinaries Index (ASX: XAO) has gained 0.3%.

Adore Beauty stock surges as company caught up in media battle

The Adore Beauty share price is stunning the market today, gaining 10% despite only silence from the company.

Though, there’s been plenty of talk of Adore Beauty on Wednesday. Not that it has much to do with the company.

Additionally, it’s more than likely none of its stock’s movements have derived from the drama.

After the market closed yesterday, the Australian Financial Review (AFR) hit back against claims by the ABC‘s Media Watch that the publication’s reporting on Adore Beauty didn’t properly criticise the company’s valuation ahead of its 2020 float.

It came after AFR columnist Joe Aston critiqued the company in an opinion piece, saying it marketed its float using “an orgy of gendered PR”.

The program followed up on the opinion piece, criticising the AFR‘s previously “glossy” coverage of the company.

“But what Aston didn’t make clear was that the AFR had been one of the noisiest promoters of the company and its founder,” Media Watch host Paul Barry said.

AFR editor-in-chief Michael Stutchbury responded to the program’s questions on the publication’s roll in promoting the company’s float, saying it did critique the company’s valuation.

Specifically, within a detailed analysis written by markets reporter and commentator Tom Richardson.

Richardson’s article was titled, ‘Adore Beauty’s valuation raises eyebrows ahead of IPO’ and discussed if the company was worth the $635.3 million its offer price put its market valuation at.

And, in another article published by the AFR yesterday evening, it claimed Media Watch failed to consider its multi-faceted coverage of the company, its founder, and its float.

It also said it repeatedly reported some experts and investors found the company’s valuation too high in the lead up to the float. Finally, it stated Media Watch didn’t consider its coverage of the surging valuations of tech stocks in general in 2020 and 2021, and warnings the sector could be a bubble set to burst.

Adore Beauty share price snapshot

Of course, it’s unlikely the headlines have caused any of the Adore Beauty share price’s movement today.

Instead, its gains might be a reaction to the tech sector’s day in the sun.

Right now, the S&P/All Technology Index (ASX: XTX) is 2.2% higher. Meanwhile, the S&P/ASX 200 Info Tech Index (ASX: XIJ) has gained 2%.

On top of that, the Adore Beauty share price suffered a 9.2% tumble yesterday and a 5.8% slump on Monday.

Thus, today’s gains could be a simple market correction.

Whatever the reason, the stock’s surge hasn’t been enough to get the cosmetic retailer back into the green.

Right now, its share price is 45% lower than it was at the start of 2022. It. has also fallen 59% since this time last year.

Finally, investors who got in on the company’s initial public offering (IPO) can despair – the company’s share price is now 67% lower than its prospectus’ offer price of $6.75.

The post Why is the Adore Beauty (ASX:ABY) share price having an 8% glow up today? appeared first on The Motley Fool Australia.

More reading

• Is now the time to buy these 2 great ASX tech shares?
• 3 high risk, high reward small cap ASX shares named as buys
• Why Adore Beauty, Beach, Fortescue, and Praemium shares are falling
• You beauty! Adore Beauty (ASX:ABY) share price up 7% after record half year result
• 3 buy-rated ASX growth shares to make you smile

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 recommended Adore Beauty Group Limited. The Motley Fool Australia has recommended Adore Beauty Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Archer Materials Ltd (ASX: AXE) share price is advancing during late afternoon trade today. This comes after the semiconductor company announced a positive update regarding its CQ quantum computing chip.

At the time of writing, Archer Materials shares are swapping hands for $1.055 cents, up 4.97%.

Archer adds to its intellectual property portfolio

Investors are pushing Archer shares higher after digesting the company’s latest win.

According to its release, Archer advised it has been approved for a European patent associated with its CQ quantum computing chip technology.

This follows numerous other patents that have been granted approval in Japan, South Korea, China and the United States. Currently, Australia and Hong Kong are in the midst of their patent application process.

Archer noted that the European approval represents a significant early-stage milestone in the development of the CQ chip. The jurisdictions in which the European patent is now effective spans across a number of countries in the continent. This includes Belgium, Switzerland & Liechtenstein, Germany, Spain, France, the United Kingdom, Italy, Turkey, the Netherlands, Sweden, and Ireland.

The company considers the jurisdictions as critical strategic markets to protect and potentially commercialise its IP.

European Patent protection is required for any possible future commercialisation operations. With the latest approval, Archer has access to Europe’s largest economies to explore sales opportunities within each of the countries.

Quick take on Archer

Founded in 2007, Archer is a technology company developing advanced semiconductor devices. This encompasses chips that can be used in quantum computing and medical diagnostics.

Archer’s flagship development, the CQ chip, is a world-first technology that could allow for quantum computing powered mobile devices.

Archer share price snapshot

It’s been an interesting year for Archer shares, having moved in circles until the start of July. Over the last 12 months, the company’s share price has increased by around 4% and is down 6% year-to-date.

On valuation grounds, Archer commands a market capitalisation of roughly $259.95 million, with approximately 247.56 million shares outstanding.

The post Chips ahoy! Here’s why the Archer Materials (ASX:AXE) share price is leaping 5% appeared first on The Motley Fool Australia.

More reading

• Archer Materials (ASX:AXE) share price leaps 12% on ‘major technical feat’

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 Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.4% to 7,191.9 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

Australian Ethical Investment Limited (ASX: AEF)

The Australian Ethical share price is down 5% to $7.67. Investors appear disappointed with the fund manager’s half year results. Although the company delivered a 35% increase in revenue to $35.2 million, its net profit only grew 5% to $5.4 million. This led to Australian Ethical declaring a flat interim dividend at 3 cents per share.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price has tumbled 13.5% to $86.67. Investors have been selling the pizza chain operator’s shares after its half year earnings fell short of expectations. Domino’s reported an 11.1% increase in network sales but a 5.3% decline in underlying net profit after tax to $91.3 million. This earnings miss was driven largely by its underperformance in Asia.

Scentre Group (ASX: SCG)

The Scentre share price is down almost 5% to $3.00. This morning the shopping centre operator released its full year results and revealed a big improvement in its performance. This allowed Scentre to declare a 14.25 cents per share distribution, which is double what it paid a year earlier. However, taking the shine off the result was that its FFO per share came in below consensus estimates.

St Barbara Ltd (ASX: SBM)

The St Barbara share price is down 3% to $1.40. Investors have been selling this gold miner’s shares following the release of its half year results. For the six months ended 31 December, St Barbara reported a 63% decline in underlying profit to $15.1 million. This was driven by weak production during the half.

The post Why Australian Ethical, Domino’s, Scentre, and St Barbara shares are falling appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts this Wednesday
• Australian Ethical Investment (ASX:AEF) share price falls despite profit boost
• Profits down: St Barbara (ASX:SBM) share price slides 5% on half-year results
• Slow down: Why the Domino’s (ASX:DMP) share price is sinking 16%
• Dividend up 103%, but Scentre Group (ASX:SCG) share price down. What gives?

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. owns and has recommended Australian Ethical Investment Ltd. The Motley Fool Australia has recommended Australian Ethical Investment Ltd. and Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Tuesday night to discuss the impact of Russian action in Ukraine, plus COVID costs crimp Coles Group Ltd (ASX: COL), and house prices might be starting to plateau.

The post The market responds to Russian aggression and COVID costs crimp Coles. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

More reading

• Why Cochlear, Coles, Costa, and Monadelphous shares are racing higher
• ASX 200 (ASX:XJO) midday update: Coles and Cochlear impress, Nanosonics sinks
• Coles (ASX:COL) share price on watch after COVID costs hit earnings
• 5 things to watch on the ASX 200 on Tuesday
• The week ahead: Earnings, wages and business conditions. Scott Phillips on Nine’s Late News

Motley Fool contributor Scott Phillips 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 owns and has recommended COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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There are few things as pervasive and potentially destructive to real returns than inflation. The fear of watching rising costs consume investors’ portfolios has many people seeking out the best corners of the S&P/ASX 200 Index (ASX: XJO) to fend off the devaluing phenomenon.

For this reason, the market has tended to steer away from the traditionally dubbed ‘growth shares’. Taking their place in popularity are the companies with proven profits at reasonable prices — otherwise known as ‘value shares‘.

Although, which ASX 200 value shares might not only handle higher inflation but actually benefit from it? Offering potential answers to this question, Lazard Asset Management portfolio manager Aaron Binsted rattled off a few names with Livewire recently.

Let’s take a look at what the fund manager had to say.

Inflation beneficiaries in the ASX 200

According to Binsted, value shares are set to outperform amid a turn away from the speculative side of the market. Behind this confident projection are a number of key factors firming the fund manager’s view. These include rising inflation, earlier rate increases, and extreme volatility.

In the interview, Binsted highlighted three ASX 200 companies that he expects will ride the wave of inflation.

Firstly, the portfolio manager labelled the energy and insurance sectors as breadwinners during the transitioning environment. Of these, Woodside Petroleum Ltd (ASX: WPL) was Binsted’s top pick among energy shares.

With oil prices at seven-year highs, nearing US$100 per barrel, beefed cash flows and margins are enticing to the fund manager. Binsted said:

We know that gas demand is going to have structural growth in Asia for at least the next 20 years. So, it’s a really nice combination of really high returning cash flow, short payback in oil and longer-term steady cash flow on the LNG side

Meanwhile, on the insurance front, QBE Insurance Ltd (ASX: QBE) takes the crown as the pick of the bunch. Binsted expects QBE to gain around 5% to 6% on its earnings per share (EPS) for every 0.25% increase in interest rates. If this turns out to be true, the insurance provider could be staring at bigger profits in the future.

The final ASX 200 share that might be a winner under inflationary circumstances is Computershare Limited (ASX: CPU). According to the experienced investor, EPS could lift 10% for each 0.25% rate rise. The stock registry services provider won over the market with a solid half-year result in early February.

The post 3 ASX 200 value shares to buy for higher inflation: fundie appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• Banking on the QBE (ASX:QBE) dividend? Here’s what you need to know
• In a sea of red, the Woodside (ASX:WPL) share price is again hitting new highs. Here’s why
• 5 things to watch on the ASX 200 on Tuesday
• Own ASX dividend shares? Here are some of the payouts that have surprised so far this earnings season

Motley Fool contributor Mitchell Lawler 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 Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is staging a mild recovery so far today after yesterday’s nasty fall. At the time of writing, the ASX 200 has gained 0.36% and is sitting at 7,187 points. 

So let’s dive a little deeper and check out the shares that are currently topping the ASX 200’s volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume so far on Wednesday

Scentre Group (ASX: SCG)

ASX 200 Real Estate Investment Trust (REIT) Scentre Group is our first share to check out today. The owner of the Westfield brand in Australia has seen a sizeable 16.08 million of its shares change hands so far. This follows the company’s half-year earnings results that were released this morning.

As my Fool colleague Zach covered earlier, this saw Scentre report a 10.9% increase in operating profits and a 103.6% rise in dividend distributions. However, investors don’t seem to be impressed, and have sent Scentre units down a meaningful 4.75% so far today at $3.01 a unit. It’s these factors that are likely behind this elevated volume we see. 

Telstra Corporation Ltd (ASX: TLS)

Telstra is our next share to check out today. This ASX 200 telco has had a notable 17.43 million shares swap owners thus far this Wednesday. 

Unlike Scentre, there has been no major news or announcements out of Telstra today. However, the company is up a beefy 2.3% so far today at $4.02 a share. Also, Telstra has resumed buying its own shares back on the open market. These two catalysts might be responsible for this high trading volume.

Pilbara Minerals Ltd (ASX: PLS)

Lithium producer Pilbara Minerals is our last share today, but certainly not least in terms of trading volume. Pilbara has had 34.1 million shares trade on the markets thus far this Wednesday, topping out the ASX 200. Like Scentre, Pilbara also dropped its half-year earnings report earlier today. As we discussed this morning, the company reported a 49% increase in shipments, along with a whopping 394% surge in sales revenue. 

Investors reacted in a rather strange fashion, sending Pilbara shares down to $2.58 soon after open, but then sending them way back up to the current $2.89 a share, 3.58% higher. Go figure. It’s these earnings and share price volatility that is almost certainly behind this trading volume we are seeing. 

The post These 3 ASX 200 shares are topping the volume charts this Wednesday appeared first on The Motley Fool Australia.

More reading

• Why did ASX 200 shares leap on the latest wages data released today?
• Dividend up 103%, but Scentre Group (ASX:SCG) share price down. What gives?
• ASX 200 (ASX:XJO) midday update: Woolworths impresses but Domino’s crashes after earnings miss
• These 5 ASX 200 shares are trading ex-dividend today
• Pilbara Mineral (ASX:PLS) share price sinks 7% amid half-year results and CEO exit

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

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The S&P/ASX 200 Index (ASX: XJO) has had a rather interesting day of trading so far this Wednesday. After initially spending most of the opening hour or so of trading in the red, the ASX 200 rebounded strongly mid-morning.

This is intriguing because it was around this time that the Australian Bureau of Statistics (ABS) released the latest data on wages and wage growth. Yes, the ABS has released its wage and labour data for the quarter ending 31 December 2021. And it makes for some interesting reading.

Aussie incomes are up

According to the ABS, Australia’s seasonally adjusted Wage Price Index (WPI) rose by 0.7% over the December quarter. That puts the annual wage growth rate at a solid 2.3%. That’s well above the 1.4% recorded at the same point in the previous year.

Queensland was the state that recorded the highest growth at 0.8%. Victoria, South Australia, Western Australia, and the Northern Territory are dragging the chain at 0.5%.

Here’s some of what Michelle Marquardt, ABS Head of Prices Statistics, had to say on these numbers:

The proportion of pay rises reported over the December quarter was higher than usually seen at this time of year. The implementation of the last phases of award updates and state-based public sector enterprise agreements, on top of a rising number of wage and salary reviews, drove wages up 0.7 per cent over the quarter.

Wage pressure continued to build over the December quarter for jobs with specific skills. Private sector wage growth occurred across a broad range of industries as businesses looked to retain experienced staff and attract new staff. Private sector wages rose 2.4 per cent annually, maintaining the rate of growth recorded in September quarter 2021.

But why would numbers like these cause ASX 200 shares to rise, as appears to have been the case this morning? Don’t higher wages mean higher costs for businesses?

Why are ASX 200 shares rising?

Well, in short, higher wages are a very good indication that the economy is firing on all cylinders. We also happen to have very low unemployment right now by historical standards, so a tight labour market and rising wages mean Australian consumers have more money in their pockets to spend. And higher spending is good news for almost every company on the ASX.

Also, as The Motley Fool’s own Chief Investment Officer Scott Phillips discussed this week, rising wages are an especially good sign amid the rising inflation we have seen in recent months. Higher inflation means higher prices across the economy, so it’s a good sign that wages are rising as well. This is ensuring that Aussie workers’ incomes can at least keep pace with any price increases.

So that might be why the ASX 200 index has powered into the green after the release of these numbers. It’s certainly nothing to turn our noses up at.

At the time of writing, the ASX 200 is up a decent 0.45% to 7,193 points.

The post Why did ASX 200 shares leap on the latest wages data released today? appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts this Wednesday
• ASX 200 (ASX:XJO) midday update: Woolworths impresses but Domino’s crashes after earnings miss
• These 5 ASX 200 shares are trading ex-dividend today
• 5 things to watch on the ASX 200 on Wednesday
• Here are the top 10 ASX shares today

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 Bruce Jackson.

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The Bitcoin (CRYPTO: BTC) price is up 2% over the past 24 hours but remains down 14% since this time last week. And it’s down 22% so far in 2022.

One Bitcoin is currently worth US$38,058 (AU$52,207). That gives the world’s original cryptocurrency a market cap of US$715.2 billion.

A tidy sum. But a long way from the US$1.2 trillion market valuation it commanded after hitting all-time highs of US$68,790 on 10 November. Since that high the Bitcoin price has lost 45%, according to data from CoinMarketCap.

Where to next for the Bitcoin price?

Forecasting the price moves of cryptocurrencies is no exact science.

To say the least.

But to garner an idea of where the Bitcoin price could be heading next, we look at 3 expert projections, courtesy of Bloomberg, on what crypto investors could expect next.

First up, John Roque of 22V Research believes that the Bitcoin price could sink below US$30,000 amid the ongoing geopolitical uncertainty.

According to Roque, “In the globe’s latest maelstrom – US/Russia/Ukraine – Bitcoin, the asset purported to be the answer to every question, has quietly weakened and is notably underperforming its arch-enemy, gold.”

Nexo co-founder Antoni Trenchev is also eyeing the US$30,000 level. That’s some 21% below the current Bitcoin price.

According to Trenchev (quoted by Bloomberg):

Bitcoin’s inability to hold $40,000 amid heightened Ukraine tensions means $30,000 is back in play. Geopolitics has, for now, replaced inflation as the primary driver of both traditional and crypto markets.

Just how low can it go?

There’s no absolute floor to the Bitcoin price, save zero. But most crypto analysts don’t see the token falling nearly that far.

Trenchev believes it will find strong support at US$30,000, saying US$29,000 appears to be a “last line in the sand” for crypto investors.

Katie Stockton, founder of Fairlead Strategies, offers a slightly more bearish outlook.

Turning to the charts, she said the world’s biggest crypto could fall to US$27,200 where it would face its next “key technical test”.

The post Down 14% in a week, where to next for the Bitcoin price? appeared first on The Motley Fool Australia.

More reading

• Have Bitcoin price falls cemented gold as the best safe-haven asset?
• Why Bitcoin, Ethereum and Dogecoin plunged this weekend
• The Bitcoin price just fell 8%. What’s going on?
• Why Bitcoin, Ethereum, and Dogecoin plunged today
• How this tech giant could ‘put booster rockets’ under crypto: expert

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin. The Motley Fool Australia owns and has recommended Bitcoin. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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