Wed, Jan 25, 2023 6:15 PM
Will Crypto Miners Sell Their BTC Holdings As Bitcoin Price Recovers?
A Flip by Shruti
There haven't been many success stories as outstanding as Amazon (NASDAQ: AMZN). This business has grown rapidly over the past couple of decades and now dominates multiple sectors, with customers using its products daily.This "Magnificent Seven" stock has crushed it for investors, rising 975% in just the past 10 years (as of April 19).
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The US economy grew at a slower pace than expected in the first quarter. The Bureau of Economic Analysis's advance estimate of first quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 1.6% during the period, slower than consensus forecasts. Economists surveyed by Bloomberg estimated the US economy grew at an annualized pace of 2.5% during the period.
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Lithium miner Albemarle (NYSE: ALB) has struggled since hitting an all-time high in 2022, with shares down about 64% since. A primary cause of the decline is likely profit-taking after an intense run-up during the pandemic, but slowing adoption of electric vehicles (EVs) and reduced expectations for future EV demand are also significant factors.Multiple automakers.
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