Cloud Hosting

Page 1,523«..10 20..1,5221,5231,524 1,525..1,530 1,540..»

Quantum startup IonQ delivers strong earnings beat and its stock rises – SiliconANGLE News

April 4, 2023 | Author: admin

Quantum computing company IonQ Inc. closed on its first full year as a publicly traded company today, beating expectations on earnings and revenue as it delivered its fourth-quarter results.

The company reported a loss before certain costs such as stock compensation of nine cents per share, with revenue for the period coming to $3.8 million, up from $1.65 million a year ago. Wall Street analysts had been looking for a bigger loss of 13 cents per share on lower revenue of $3.2 million. All told, IonQ delivered a net loss of $18.6 million for the quarter, way down from the $74.1 million loss it posted a year ago.

IonQ also reported its full fiscal 2022 results, with $11.1 million in revenue resulting in a net loss of $48.5 million. Investors apparently liked what they saw, as IonQs stock rose more than 5% after-hours.

The company surprised many when itwent public just over a year ago, despite barely having any revenue. But its looking to change that by providing enterprise customers with early access to quantum computing via the cloud. The company has developed a quantum-based computing system that relies on trapped ions, which are charged particles suspended in a vacuum, as the basis of its hardware.

IonQs customers dont have to worry about the underlying hardware themselves, as its services are exclusively accessible via the cloud, through partners such as Amazon Web Services Inc., Microsoft Corp. and Google Cloud. It means early adopters can access IonQs quantum computers without any costly investments.

President and Chief Executive Peter Chapman praised the company for a fantastic year, despite the still low level of revenue. As we keep delivering against our technical roadmap, we expect our systems will continue to be the worlds most powerful, allowing our customers to solve their most complex problems, he said. Our financial outlook for the year predicts even faster growth than in 2022, as customers and prospects continue to show enthusiasm for and commitment to our industry-leading quantum computers and the quantum future as a whole.

In what proved to be a fairly busy quarter, IonQ announced the acquisition in January of a startup called Entangled Networks Ltd., which specializes in networking technology for linking quantum processors. It said its planning to use the startups software to implement substantial performance improvements in its hardware.

IonQ also found time to partner with Dell Technologies Inc. on a new hybrid quantum/classical computing platform at the Supercomputing 2022 event in November.

Holger Mueller of Constellation Research Inc. said that while IonQ is still unprofitable, it is making progress in reversing that, reducing its net loss per share by two thirds over the last year. Its also progressing well on the technical side, he said, having quadrupled the power of its Aria quantum computing platform. IonQs partnership with Microsoft Azure seems to be delivering to, and it shows that the public cloud is the right way for enterprises to consumer quantum computing capabilities, Mueller added. Peter Chapman and team need to keep executing and try to deliver a first profit in the next fiscal year.

Looking to the new year, the company forecast revenue of between $3.6 million and $4 million for the first quarter, and $18.4 million and $18.8 million for the full year. The forecast was better than expected, with analysts targeting $3.5 million for the next quarter and $18.2 million for the full year.

Read this article:
Quantum startup IonQ delivers strong earnings beat and its stock rises - SiliconANGLE News

Yale researchers achieve breakthrough in extending qubits lifetime … – Yale Daily News

April 4, 2023 | Author: admin

Researchers at Yale have extended the lifetime of a qubit by 2.3 times, a major step in improving and proving the viability of quantum computers.

Sammi Kwon 12:43 am, Mar 31, 2023

Contributing Reporter

Vera Villanueva

Yale Daily News

Since the beginning of the quantum revolution in the early 20th century, scientists have been working to prove the functionality of quantum computing.

While in theory the quantum computer is a powerful tool with the ability to encode calculations at speeds faster than those of a classical computer, the physical proof of principle has yet to be demonstrated. However, recent developments by Yale researchers in quantum error correction could represent a major step in proving the feasibility and potential of quantum computers.

A qubit, or quantum bit, is a unit of quantum information that is physically constructed of circuits made of superconductors and cooled to very low temperatures to optimize the circuits efficiency. Yale researchers in the Devoret research group have successfully extended the lifetime of a qubit beyond the break-even point, seeing a gain in the preservation of information and the amount of operations that can be performed on a qubit in one lifetime.

We increased the lifetime by a factor of 2.3, so we more than doubled the number of operations that we can perform before the qubit begins to fail, said Luigi Frunzio, a senior research scientist in applied physics.

With the help of machine learning to optimize calibration and precision, the researchers used quantum error correction a process used to protect information encoded in qubits from errors due to quantum noise to achieve this breakthrough.

According to Frunzio, using the Gottesman-Kitaev-Preskill quantum error correction code, the research group was the first to see more errors corrected than errors produced in quantum information. Before this breakthrough, he said, there were more errors than corrections from quantum error correction codes.

Steve Girvin, Yales Eugene Higgins professor of physics, noted that prior to this study, many research groups across the world had gotten close to the break-even point. According to Girvin, by incorporating the efforts of interdisciplinary research and an accumulation of progress from over the years, this breakthrough was finally the first to extend the qubits lifetime above the break-even point to see a gain greater than one.

Having a stable qubit above the break-even point shows that the theories behind quantum computing are plausible, according to Baptiste Royer, former postdoctoral student in the Devoret research group.

One of the main claims is to show that it is possible to have a stable qubit above break-even at the heart of quantum error correction, Royer said.

All sources the News spoke to noted that in addition to being a step towards building more functional quantum computers, the breakthrough is also a proof-of-principle demonstration that shows that researchers may eventually be able to build a quantum computer that provides an advantage beyond any modern supercomputer.

While there is still a long way to go before quantum computers can be as effective as classical computers in terms of functionality, according to Girvin, this breakthrough is an important first step to improving the practicality of quantum computers.

This is a big step forward, though, there is still a huge distance to go to get a gain of millions or billions, Girvin said. But the journey to a billion begins with being above one. The grand challenge to solve is if quantum computers are going to be practical.

With this goal in mind, all three researchers mentioned that the next advancement needed to further validate quantum error correction and the practicality of quantum computing is extending the lifetime of qubits to the scale of billions. Royer added that they are also working on extending this breakthrough to more than one qubit such that complex algorithms can be implemented in the quantum computers.

With the feasibility of quantum error correction, better qubits and better machines altogether, quantum computation will not only be possible but also more concretely useful for disciplines beyond science and math, Frunzio said.

The first quantum computer, a two-qubit with the ability to load and output data, was built in 1989.

View post:
Yale researchers achieve breakthrough in extending qubits lifetime ... - Yale Daily News

IBM Furthers Flexibility, Sustainability and Security within the Data … – PR Newswire

April 4, 2023 | Author: admin

ARMONK, N.Y., April 4, 2023 /PRNewswire/ -- IBM (NYSE: IBM)today unveiled new single frame and rack mount configurations of IBM z16and IBM LinuxONE 4, expanding their capabilities to a broader range of data center environments. Based on IBM's Telum processor, the new options are designed with sustainability in mind for highly efficient data centers, helping clients adapt to a digitized economy and ongoing global uncertainty.

Introduced in April 2022, the IBM z16 multi frame has helped transform industries with real-time AI inferencing at scale and quantum-safe cryptography. IBM LinuxONE Emperor 4, launched in September 2022, features capabilities that can reduce both energy consumption and data center floor space while delivering the scale, performance and security that clients need.The new single frame and rack mount configurations expand client infrastructure choices and help bring these benefits to data center environments where space, sustainability and standardization are paramount.

"IBM remains at the forefront of innovation to help clients weather storms generated by an ever-changing market," said Ross Mauri, General Manager, IBM zSystems and LinuxONE. "We're protecting clients' investments in existing infrastructure while helping them to innovate with AI and quantum-safe technologies. These new options let companies of all sizes seamlessly co-locate IBM z16 and LinuxONE Rockhopper 4 with distributed infrastructure, bringing exciting capabilities to those environments."

Designed for today's changing IT environment to enable new use cases

Organizations in every industry are balancing an increasing number of challenges to deliver integrated digital services. According to a recent IBM Transformation Index report, among those surveyed, security, managing complex environments and regulatory compliance were cited as challenges to integrating workloads in a hybrid cloud. These challenges can be compounded by more stringent environmental regulations and continuously rising costs.

"We have seen immense value from utilizing the IBM z16 platform in a hybrid cloud environment," said Bo Gebbie, president, Evolving Solutions. "Leveraging these very secure systems for high volume transactional workloads, combined with cloud-native technologies, has enabled greater levels of agility and cost optimization for both our clients' businesses and our own."

The new IBM z16 and LinuxONE 4 offerings are built for the modern data center to help optimize flexibility and sustainability, with capabilities for partition-level power monitoring and additional environmental metrics. For example, consolidating Linux workloads on an IBM LinuxONE Rockhopper 4 instead of running them on compared x86 servers with similar conditions and location can reduce energy consumption by 75 percent and space by 67 percent.1These new configurations are engineered to deliver the same hallmark IBM security and transaction processing at scale.

Designed and tested to the same internal qualifications as the IBM z16 high availability portfolio2, the new rack-optimized footprint is designed for use with client-owned, standard 19-inch racks and power distribution units. This new footprint opens opportunities to include systems in distributed environments with other servers, storage, SAN and switches in one rack, designed to optimize both co-location and latency for complex computing, such as training AI models.

Installing these configurations in the data center can help create a new class of use cases, including:

Securing data on the industry's most available systems3

For critical industries, like healthcare, financial services, government and insurance, a secure, available IT environment is key to delivering high quality service to customers. IBM z16 and LinuxONE 4 are engineered to provide the highest levels of reliability in the industry, 99.99999% availability to support mission-critical workloads as part of a hybrid cloud strategy. These high availability levels help companies maintain consumer access to bank accounts, medical records and personal data. Emerging threats require protection, and the new configurations offer security capabilities that include confidential computing, centralized key management and quantum-safe cryptography to help thwart bad actors planning to "harvest now, decrypt later."

"IBM z16 and LinuxONE systems are known for security, resiliency and transaction processing at scale," said Matt Eastwood, SVP, WW Research, IDC. "Clients can now access the same security and resiliency standards in new environments with the single frame and rack mount configurations, giving them flexibility in the data center. Importantly, this also opens up more business opportunity for partners who will be able to reach an expanded audience by integrating IBM zSystems and LinuxONE capabilities to their existing footprints."

With the IBM Ecosystem of zSystems ISV partners, IBM is working to address compliance and cybersecurity. For clients that run data serving, core banking and digital assets workloads, an optimal compliance and security posture is key to protecting sensitive personal data and existing technology investments.

"High processing speed and artificial intelligence are key to moving organizations forward," said Adi Hazan, director ofAnalycat. "IBM zSystems and LinuxONE added the security and power that we needed to address new clients, use cases and business benefits. The native speed of our AI on this platform was amazing and we are excited to introduce the IBM LinuxONE offerings to our clients with large workloads to consolidate and achieve corporate sustainability goals."

IBM Business Partners can learn more about the skills required to install, deploy, service and resell single frame and rack mount configurations in this blog.

Complementary Technology Lifecycle Support Services

With the new IBM LinuxONE Rockhopper 4 servers, IBM will offer IBM LinuxONE Expert Care. IBM Expert Care integrates and prepackages hardware and software support services into a tiered support model, helping organizations to choose the right fit of services. This support for LinuxONE Rockhopper 4 will offer enhanced value to clients with predictable maintenance costs and reduced deployment and operating risk.

The new IBM z16 and LinuxONE 4 single frame and rack mount options, supported by LinuxONE Expert Care, will be generally available globally[4] from IBM and certified business partners beginning on May 17, 2023. To learn more:

About IBMIBM is a leading global hybrid cloud and AI, and business services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries.Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely.IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients.All of this is backed by IBM's legendary commitment to trust, transparency, responsibility, inclusivity, and service. For more information, visitwww.ibm.com

Media Contact:Ashley Peterson[emailprotected]

1 DISCLAIMER: Compared IBM Machine Type 3932 Max 68 model consisting of a CPC drawer and an I/O drawer to support network and external storage with 68 IFLs and 7 TB of memory in 1 frame versus compared 36 x86 servers (2 Skylake Xeon Gold Chips, 40 Cores) with a total of 1440 cores. IBM Machine Type 3932 Max 68 model power consumption was measured on systems and confirmed using the IBM Power estimator for the IBM Machine Type 3932 Max 68 model configuration. x86 power values were based on Feb. 2023 IDC QPI power values and reduced to 55% based on measurements of x86 servers by IBM and observed values in the field. The x86 server compared to uses approximately .6083 KWhr, 55% of IDC QPI system watts value. Savings assumes the Worldwide Data Center Power Utilization Effectiveness (PUE) factor of 1.55 to calculate the additional power needed for cooling. PUE is based on Uptime Institute 2022 Global Data Center Survey (https://uptimeinstitute.com/resources/research-and-reports/uptime-institute-global-data-center-survey-results-2022). x86 system space calculations require 3 racks. Results may vary based on client-specific usage and location.2 DISCLAIMER: All the IBM z16 Rack Mount components are tested via same process requirements as the IBM z16 traditional Single Frame components. Comprehensive testing includes a wide range of voltage, frequency, temperature testing.3 Source: Information Technology Intelligence Consulting Corp. (ITIC). 2022. Global Server Hardware, Server OS Reliability Survey. https://www.ibm.com/downloads/cas/BGARGJRZ4 Check local availability for rack mount here.

SOURCE IBM

See the original post:
IBM Furthers Flexibility, Sustainability and Security within the Data ... - PR Newswire

How innovation can make the world more sustainable – The Economic Times

April 4, 2023 | Author: admin

Over the past few years, there has been a significant surge in the awareness of sustainability and how technology can play a vital role in addressing some of the most pressing environmental challenges facing the world today. Ranging from renewable energy to transportation, agriculture, construction, healthcare, and manufacturing, innovative technologies hold the potential to create a brighter and more sustainable future for all of us.Energy: Repowering the Planet illuminating a sustainable path

The increasing adoption and research of renewable energy technologies, such as solar panels, wind turbines, floating solar panels, green hydrogen, carbon capture, bioenergy, tidal/wave energy, geothermal energy, and hydrogen fuel cells, signals a shift towards clean energy and reduced reliance on fossil fuels.

Additionally, virtual reality (VR) and augmented reality (AR) technologies are being integrated into the energy sector, enabling the simulation of hazardous situations, improving infrastructure design and maintenance, and facilitating remote training and collaboration.

Moreover, Blockchain can transform transport via fraud reduction, transparent supply chains, carbon tracking, secure data management for autonomous and connected vehicles, decentralized ride-sharing, and streamlined shipping. These innovations enhance efficiency, safety, and cost savings.

Augmented reality (AR) and virtual reality (VR) technologies can help with immersive training, system simulation, personalized passenger experiences, remote monitoring, virtual collaboration, and driver training to improve efficiency and safety.

To promote sustainable mobility, it is essential to prioritize improvements to public transport, build cycling infrastructure, utilize renewable energy, implement smart city technologies, and use sustainable materials.

Blockchain technology enhances transparency and efficiency within the agricultural supply chain. It empowers farmers to track the entire lifecycle of crops from seed to sale, streamlining payments, reducing fraud, and ensuring quality and safety. In addition, quantum computing offers the potential to optimize fertilizer formulations and develop efficient production methods. Improving weather forecasting and analyzing genetic data helps breed resistant crops, contributing to increased sustainability, reduced harm, and improve crop efficiency in agri-tech.

Furthermore, VR/AR technologies assist farmers in training and decision-making by simulating different scenarios and conditions safely and efficiently. This allows them to anticipate potential issues and devise appropriate solutions without the risk of real-world consequences.

Construction: Smart structures, sustainable solutionsThe construction industry is significantly transforming by adopting sustainable technologies and innovative practices. Green materials, such as engineered wood and recycled steel, and energy-efficient technologies like solar panels and intelligent HVAC systems, are widely adopted in sustainable construction. Building Information Modeling (BIM) optimizes building design and construction, while drones and robots assist in surveying and inspection. Artificial intelligence (AI) is also employed to optimize and reduce energy waste throughout construction.

Quantum computing can revolutionize the construction industry by optimizing design, project management, safety and security, supply chain management, and identifying sustainable materials and energy sources. This can lead to increased efficiency, reduced costs, and improved sustainability. Augmented reality (AR) and virtual reality (VR) also significantly contribute to the industry, assisting with design visualization, training, collaboration, communication, and on-site construction.

3D printing is an emerging technology that enables rapid prototyping, reduces material waste, and allows for the creation of complex designs and structures with high precision. This results in cost savings and improved sustainability within the construction sector. The Internet of Things (IoT) enhances monitoring, tracking, and safety by utilizing wearables and sensors to track worker health, equipment location, and machine performance. Innovations such as self-healing concrete can autonomously repair the damage, reducing maintenance costs. Moreover, modular construction techniques involve prefabricated components that can be assembled on-site, saving time, reducing waste, and making construction more efficient overall.

HealthTech for the Planet: The intersection of emerging technologies and sustainable healthcareQuantum computing is poised to revolutionize healthcare by facilitating and improving targeted drug therapies, medical imaging, and personalized medicine. This cutting-edge technology can lead to earlier diagnoses, better treatments, and enhanced cybersecurity, ultimately creating a more sustainable healthcare system.

In addition, wearable devices, telemedicine, electronic health records, 3D printing, AI, and federated learning are contributing to improvements in healthcare by reducing the need for frequent doctor visits, increasing accessibility, minimizing waste, and improving patient outcomes. These innovations also enable the analysis of large amounts of data, prediction of disease outbreaks, and collaboration on model creation without sharing sensitive information. This can improve healthcare efficiency, enhance sustainability, and improve patient outcomes.

Nanotechnology and bioprinting are also making significant strides in developing new treatments and improving drug delivery systems. Meanwhile, AR and VR technologies enhance healthcare through medical training, patient education, pain management, mental health therapy, and rehabilitation, providing immersive experiences and distraction during medical procedures to reduce pain.

Manufacturing: Sustainable industry revolution: Emerging tech at the forefrontBlockchain technology is pivotal in promoting ethical and sustainable sourcing and data sharing within the manufacturing sector. Simultaneously, artificial intelligence (AI) optimizes manufacturing processes and predictive maintenance, effectively avoiding downtimes and enhancing productivity. Digital twin technology also transforms the industry by improving efficiency, quality, worker safety and security, and sustainability.

3D printing technology is making significant strides in reducing waste and improving efficiency, allowing for creation of complex structures and designs with precision and minimal material usage. Virtual and augmented reality (VR/AR) technologies are being integrated into manufacturing to simulate operations and train workers, leading to better-skilled and prepared employees.

Quantum technology can revolutionize manufacturing with optimized processes, reduced energy consumption, and a better environmental footprint.

In conclusion, the world is witnessing a technological revolution crucial in driving sustainability across critical sectors like energy, transportation, agriculture, construction, healthcare, and manufacturing. We can foster sustainable practices, optimize resources, and reduce our environmental footprint by leveraging innovations like renewable energy, AI, blockchain, quantum computing, and immersive techs like AR and VR.

Embracing cutting-edge solutions will lead us towards a greener future, ensuring a healthier planet and improved quality of life for everyone. To harness the full potential of these emerging technologies, it's essential to invest in research and development, encourage cross-sector collaboration, and support policies that prioritize sustainability. Overall, technological advancements are transforming our approach to sustainability. Adapting to these changes can secure a brighter, eco-friendly future for future generations.(The writer is Technical Head AI, Fujitsu Fellow & Global Fujitsu Distinguished Engineer)

See the original post:
How innovation can make the world more sustainable - The Economic Times

IBM and Vodafone urge industry to prepare for quantum era – Capacity Media

April 4, 2023 | Author: admin

They are concerned that the imminent arrival of quantum computing will leave data and traffic vulnerable unless all parts of the supply chain are protected.

We want to get a requirement for post-quantum cryptography into the specifications for 6G, said Luke Ibbetson, Vodafones head of group research and development.

But its not just the sixth generation of mobile telecoms hes worried about: quantum security is also a concern for fixed services to enterprises, including data centres.

Were concerned about VPNs, SD WANs and other services, initially for the public sector, Ibbetson told Capacity.

Lory Thorpe, IBMs director for global solutions and offerings in telecommunications, added: Governments are looking at the impact of this, some more aggressively than others, and they are updating cyber security guidance for critical national infrastructure.

The US is the only government so far to have set public standards, she said. Last November the Office of Management and the Budget (OMB), part of President Joe Bidens executive office at the White House, told federal agencies to prepare now to implement post-quantum cryptography, and to submit a prioritized inventory of information systems and assets, itemising quantum-vulnerable cryptographic systems, by April 2023.

Thorpe and Ibbetson are both involved in the GSMAs Post Quantum Telco Networks (PQTN) taskforce Thorpe is chair which last month produced a white paper on how the mobile industry should prepare for the post-quantum world.

IBM is already making quantum computers (pictured), and has one at its innovation studio in central London.

Were looking at the positive benefits [of quantum technology], said Ibbetson, who is vice chair of the GSMA taskforce. They include making data quantum safe. But the inconvenient truth is that quantum will also be able to break encrypted data. People are harvesting data for when thats possible.

The GSMA taskforce includes 45 member companies, including a number of significant operators from around the world, said Thorpe.

Ibbetson likened the quantum task to the Y2K challenge of 25 years ago, when IT companies around the world struggled with a deadline of 1 January 2000 to ensure their programs and data were compatible with 21st century dates until the 1990s, many years were shown just as two digits, rendering them liable to misinterpretation.

But there isnt a one-time fix, he said. Its like Y2K but this is an evolving threat as quantum technology continues to develop.

The telecoms industry is hugely dependent on standardisation, said Thorpe, who worked with Ibbetson at Vodafone until 2019, when she moved first to Nokia and then to IBM.

Were looking at standards in the wider ecosystem, so companies can enable their post-quantum journey. This needs to be done at an industry level, she said.

Vodafone is tackling the challenge at a number of levels. First, it is identifying systems that are likely to be refreshed over the next five years, for which replacing now with post-quantum solutions is less urgent. Some boxes are going to be retired in 18 months, said Ibbetson.

But customer data is more vulnerable, he said, pointing out the need for all telcos and other networks to tackle the challenge. Companies need to own their own plan.

And in Vodafone, we need to make sure the equipment we aspire to buy is suitable for a post-quantum world. That means ensuring new services are on quantum-secure systems. We want to understand the impact on enterprise, and recognise the opportunity for operators to offer quantum-safe services.

Thorpe added: Telcos have a lot of security risks. Crytography is everywhere. The industry needs to create an inventory of its vulnerable systems, she said. They need to quantify the risk.

Ibbetson told Capacity: Start planning. Be aware of the risk.

Follow this link:
IBM and Vodafone urge industry to prepare for quantum era - Capacity Media

Cryptoverse: Bitcoin traders like their options – Reuters.com

April 4, 2023 | Author: admin

April 4 (Reuters) - Even as bitcoin flies high, investors are keeping their options open, judging by a record race to derivatives.

Open interest for bitcoin options and futures has spiked over the past month as fear has stalked global banking, hitting an all-time high of 433,540 contracts on March 23 on Deribit, a leading exchange for crypto-focused derivatives products.

In the 12 months preceding March, by contrast, open interest ranged between 150,000 and 300,000, referring to the number of contracts yet to be settled between buyers and sellers, which provides a measure of investor participation in a market.

Most options traders are betting on bitcoin prices jumping higher, with open interest in call options at 206,979 contracts on Deribit, more than double the bearish put options of 93,857.

In notional terms, open interest in bitcoin's most recent peak at $12.24 billion on March 22 was the highest since mid-November when bitcoin was trading near $60,000, according to Deribit data.

"We've never seen this much activity before," said Luuk Strijers, chief commercial officer at Deribit. "We have reached the same levels of open interest as 2021 at half the prices, which means we have doubled."

Options contracts give their buyers the right, but not an obligation, to buy or sell an underlying asset at a fixed price in the future. Such contracts are not only used as a lower-risk, lower-reward alternative to actually buying bitcoin, but also as a way to hedge other bets, making it a better gauge of investor participation than an indicator of price expectations.

Nonetheless, investors may have good reason to be bullish about the spot price of bitcoin, which has risen 69% in 2023 to about $28,020 making it one of the best-performing assets of the year.

Furthermore, bitcoin futures on the CME exchange are trading in "contango", meaning future contract prices are trading higher than earlier ones, indicating investors expect prices to keep going up. Futures for April trade at $28,475 while the May contract trades at $28,645, data from the exchange showed.

"This has set up the market for some interesting relative value trades where bitcoin can now be used as a funding or hedging instrument," analysts at crypto investment firm Matrixport said.

Leo Mizuhara, CEO of digital assets management platform Hashnote, said the macro environment for bitcoin and other digital assets was turning more favorable given the Federal Reserve's large liquidity injections to shore up the banking sector.

While the recent Fed actions could trickle through to crypto, overall liquidity in crypto spot markets still remains low, which could lead to sharp swings in prices, market participants cautioned.

Bitcoin volatility is hovering around 66, below a peak of 96 hit during March's banking turmoil but still higher than where it started 2023 at 58, according to data from CryptoCompare.

After an estimated $4 billion of bitcoin options expired at the end of first quarter on March 31, open interest had eased to $8.7 billion on Monday - still at levels not seen in the two years before March.

Investors are still also bullish on ether, judging by options trading. Open interest in ether on Deribit features 1.7 million call options versus 656,158 puts.

The spot price of ether has jumped 50% to $1,795 this year, while the Ethereum blockchain is preparing for another significant upgrade to the blockchain later in April, known as the Shanghai upgrade.

For the past two weeks, though, both ether and its big brother bitcoin have been eerily treading water, leaving investors to place bets on boom or bust.

"Bitcoin has ranged between $26,500 and $29,000 and ether between $1,700 and $1,850," said Aakash Desai, an options trader at crypto liquidity provider B2C2.

"Breakthroughs in either direction could be interesting."

Reporting by Lisa Pauline Mattackal and Medha Singh in Bengaluru; Editing by Pravin Char

Our Standards: The Thomson Reuters Trust Principles.

Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

More:
Cryptoverse: Bitcoin traders like their options - Reuters.com

Bitcoin’s Price Slips but Remain Near Recent Highs – Barron’s

April 4, 2023 | Author: admin

Bitcoin and other cryptocurrencies edged lower Monday but remained near recent highs. The reaction in cryptocurrencies to the dramatic production cut by the OPEC+ group of oil-producing nations offers important clues as to the next move in digital assets.

The price of Bitcoin has fallen less than 1% over the past 24 hours, changing hands around $28,350. At levels above $28,000shy of its recent peak near $29,500the largest digital asset is trading around its highest level since last June, when the crypto crash accelerated. It has rallied more than 70% so far this year in a bullish turn.

Propelling cryptos higher has been an expectation that easing inflation and stresses on banks will push the Federal Reserve to be more accommodating on monetary policy, moderating interest-rate hikes and possibly even lowering rates this year. Decades-high inflation prompted the Fed to ratchet up rates over the past year, putting pronounced pressure on risk-sensitive assets like cryptos and stocks, which has seen Bitcoin become more linked with the Dow Jones Industrial Average and S&P 500.

This correlation with equities and wider risk sentiment has dominated the price action in cryptos despite intense regulatory headwinds facing digital assets in the U.S. and overseas. The latest move shows no sign of this trend fading.

As news broke Sunday that the OPEC+ group of oil-producing nations would cut crude output by more than 1 million barrels a day in aggregate, Bitcoin quickly dropped from $28,150 to a trough near $27,600, the lowest level in five days. That mirrored a move in futures contracts tracking the tech-heavy Nasdaq 100, the index of stocks with which cryptos has proved to be most correlated, since digital assets and tech stocks are among the most risk-sensitive asset classes.

Advertisement - Scroll to Continue

The pressure on cryptos as a result of the OPEC+ move comes amid soaring oil prices, which threaten to stoke inflationary pressures and could prompt more aggressive action from the Fed. That would be bad for Bitcoin.

It only highlights how dominant the macroeconomic picture and connection to the stock market is for cryptos, setting the stage for the end of the week, when the key U.S. jobs report for March will be released. Until then, barring major unforeseen regulatory shocks, investors can expect digital assets to keep swinging in step with stocks amid moves in wider risk sentiment.

Beyond Bitcoin, Ether the second-largest cryptoslipped near 1%, holding above $1,800. Smaller cryptos or altcoins were more mixed, with Cardano up 3% though Polygon was below flat. Memecoins were further in the red, with Dogecoin down 5% and Shiba Inu shedding 3%.

Advertisement - Scroll to Continue

Write to Jack Denton at jack.denton@barrons.com

Continue reading here:
Bitcoin's Price Slips but Remain Near Recent Highs - Barron's

Bitcoin Liquidity Is Drying Up as Crypto Tourists Recoil From Industry Disorder – Yahoo Finance

April 4, 2023 | Author: admin

(Bloomberg) -- By just about any measure, Bitcoin liquidity remains low, despite the cryptocurrencys eye-catching upsurge this year.

Bitcoin untouchable amid regulatory pressures, says analyst – Cointelegraph

April 4, 2023 | Author: admin

Bitcoin (BTC) is "untouchable" despite ongoing regulatory pressures in the crypto sector and those who don't have some crypto exposure are "seriously silly" according to Bloomberg's senior commodity strategist Mike McGlone.

During an April 3 stream with crypto podcaster Scott Melker, McGlone argued that unlike other cryptocurrencies such as Ether (ETH), Bitcoin couldn't be killed by regulators because it's more decentralized.

"There's so much disdain about regulators pushing back on the whole space, and that's the key thing where Bitcoin sticks out, McGlone said.

"You could make a case that Ethereum is a security when you hear about all these upgrades and people doing this and people doing that to make it better, I'm like okay well that's kind of scary, can't do that to Bitcoin, it's why it's fine and impressive," McGlone added.

The crypto sector has faced a wave of crackdowns in the United States recently, with the U.S. Securities and Exchange Commission (SEC) filing charges against crypto exchange Kraken for its staking services, then suing stablecoin issuer Paxos over Binance USD (BUSD). The regulator also proposed rule changes targeted at crypto firms operating as custodians.

McGlone stated he is still bullish on BTC but expects the price to go down again in step with other assets if a recession hits.

Back in January, he warned BTC might not see the surge being predicted just yet, as there are challenging macroeconomic conditions and pressure from interest-rate hikes.

According to McGlone the April 2 decision by the Organization of the Petroleum Exporting Countries (OPEC) to reduce daily oil output makes a recession more likely, as well as interest rate hikes from the Federal Reserve to clamp down on inflation.

"We had our morning call this morning and our economist Anna Wong said, Yeah, their base case is for that recession to kick in Q3," he said.

"OPEC is helping that. Fed tightening is helping that. So all assets have to go down. That means Bitcoin too. It's the fastest horse in the race. So I'm overall, certainly relatively bullish."

Related: Bitcoin likely to outperform all crypto assets following banking crisis, analyst explains

In McGlone's opinion, it's "seriously silly" to risk not having some exposure to crypto or trying to stand in its way.

"The key thing I look at simplistically for Bitcoin is, if you're a money manager, why take the risk of not having some of this revolutionary asset, particularly because it's so controversial you want to have at least some in it because you don't want to look like an idiot over history, he said.

"The smart guys get it; we're not gonna be a Blockbuster or Sears, and we're going to be part of this technology."

Magazine: US enforcement agencies are turning up the heat on crypto-related crime

Go here to see the original:
Bitcoin untouchable amid regulatory pressures, says analyst - Cointelegraph

Peter Schiff Warns Bitcoin Will "Break Down Hard" – U.Today

April 4, 2023 | Author: admin

Alex Dovbnya

Financial expert Peter Schiff predicts a significant market downturn for Bitcoin, warning that the digital currency will "break down hard," while simultaneously forecasting a boom for precious metals as new tech stocks

Read U.TODAY on

Google News

In a recent tweet, Peter Schiff, a well-known financial expert, and Bitcoin critic, warned that Bitcoin is on the verge of a significant downturn.

Schiff expressed his belief that risk assets would "break down hard," with Bitcoin leading the decline.

At the same time, he anticipates that precious metals miners will experience a breakout, with gold stocks becoming the new tech stocks.

Schiff's tweet comes as Bitcoin is trading at $27,924 on the Bitstamp exchange.

Schiff has been vocal about his skepticism of Bitcoin's potential as a long-term investment. In previous tweets, he has argued that despite Bitcoin's 20% spike following the Federal Reserve's policy shift, gold remains the better inflation hedge.

Additionally, Schiff has pointed out that Bitcoin is more thinly traded than gold, which may contribute to its vulnerability.

He has even challenged Bitcoin proponents like Michael Saylor, CEO of MicroStrategy, to consider what they will do when Bitcoin's value drops below $3,800, a far cry from its current trading value.

See more here:
Peter Schiff Warns Bitcoin Will "Break Down Hard" - U.Today

Cloud Hosting

Quantum startup IonQ delivers strong earnings beat and its stock rises – SiliconANGLE News

Yale researchers achieve breakthrough in extending qubits lifetime … – Yale Daily News

IBM Furthers Flexibility, Sustainability and Security within the Data … – PR Newswire

How innovation can make the world more sustainable – The Economic Times

IBM and Vodafone urge industry to prepare for quantum era – Capacity Media

Cryptoverse: Bitcoin traders like their options – Reuters.com

Bitcoin’s Price Slips but Remain Near Recent Highs – Barron’s

Bitcoin Liquidity Is Drying Up as Crypto Tourists Recoil From Industry Disorder – Yahoo Finance

Bitcoin untouchable amid regulatory pressures, says analyst – Cointelegraph

Peter Schiff Warns Bitcoin Will "Break Down Hard" – U.Today

Recent Posts

Categories

Archives

Media Sites

Pages

Site admin