Bitcoin Will Recover, But New Highs Unlikely; Retailers Eye Expansion
On 6/3/21 at 4:32 PM EDT
CryptoCorner
Bitcoin may be poised to move higher, but it won t be a meteoric rise, and any increase will be well below the cryptocurrency s all-time high. The world s leading crypto by market cap has rebounded and traded in a narrow range after falling as much as 50% from its record high last month.
However, Bitcoin mining activity suggests a move above $40,000 is possible. Several on-chain and network indicators have reflected a bullish skew over the week, albeit most being relatively neutral for the short and medium-term, Lennard Neo, a certified financial analyst and head of research at Stack Funds in Singapore, said in a research report.
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Department store chain Belk to file for Chapter 11 bankruptcy, private equity firm Sycamore to retain control CNBC 1/26/2021 Lauren Thomas
The department store chain Belk announced it plans to file for Chapter 11 bankruptcy, marking the latest mall-based retailer to do so during the Covid pandemic.
Private equity firm Sycamore is set to retain majority control of Belk as part of the restructuring agreement, the company said.
Belk said it expects to emerge from bankruptcy by the end of next month. © Provided by CNBC Belk department store
The department store chain Belk announced Tuesday afternoon it plans to file for Chapter 11 bankruptcy protection, marking the latest mall-based retailer to do so as its sales have dwindled and challenges have accelerated during the Covid pandemic.
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