Cryptocurrency

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analysts-predict-nvidias-earnings-report" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Predict Nvidia’s Earnings Report</a><br></p>
<p style="text-align: justify">The financial community eagerly awaits <a href="https://newslinker.co/category/computing/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">Nvidia</a>‘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 <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">bull market</a> will continue or if it’s starting to wane, offering significant insights into the broader economic landscape.</p>
<h2 id="nvidia-s-financial-projections">Nvidia’s Financial Projections</h2>
<p style="text-align: justify">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.</p>
<h2 id="cryptocurrency-market-s-correlation">Cryptocurrency Market’s Correlation</h2>
<p style="text-align: justify">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 <a href="https://en.bitcoinhaber.net/apollo-co-founder-foresees-bitcoin-at-5-million" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s value.</p>
<h2 id="investment-strategies-affected">Investment Strategies Affected</h2>
<p style="text-align: justify">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.</p>
<p style="text-align: justify">Given these market movements, several user-usable inferences can be drawn:</p>
<ul>
 <li>High leverage trading is leading to substantial liquidations.</li>
 <li>Investors are closing positions, indicating market withdrawal.</li>
 <li>Market trends might trigger a rapid price decline due to stop-loss and margin call orders.</li>
</ul>
<h2 id="overall-cryptocurrency-trends">Overall Cryptocurrency Trends</h2>
<p style="text-align: justify">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.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analysts-predict-nvidias-earnings-report" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Predict Nvidia’s Earnings Report</a></h5>

Analysts Predict Nvidia’s Earnings Report

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