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CrowdStrike surges 70% on its IPO day, Bitcoin grows 6.1% over 5D, ‘Internet Trends Report’ is released

July 17, 2019
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“Price is what you pay. Value is what you get”
― Warren Buffett

5-Day Change

  • Bitcoin: $8,275
    +4.3%
  • Ethereum: $255.52
    +4.46%
  • S&P 500: $2,891.64
    +1.69%
  • Dow Jones: $26,106.77
    +1.5%

Top Movers

Bitcoin gained 2.46% over the past week, as the May correction finally seems to be ending 
Litecoin has grown by 25.89% on the previous week, continuing its streak as the stand-out crypto
BitcoinSV lost 7.15% over the last 7 days, as the spike caused by Wright’s copyright proposal settles back down
Revolve, a fashion brand for millennials, jumped 56.71% as it continues to reap the benefits of its debut IP
Crinetics Pharmaceuticals, a pharma company, fell 22.59% as quarterly forecasts predict major losses.

 

Top trading ideas:

 BITCOIN - Don’t Miss This Perfect BUY Opportunity!

 TOP 3 reasons WHY Bitcoin price WILL SURGE to $10K! +Signals

 Bitcoin, Make Up Your Mind! A Healthy Correction or a Reversal?

 

Bitcoin Faces Growth at $8,000 - It Only Goes Up From Here

The correction is over, and Bitcoin is back on track to $11,500...and there’s good reason to believe that to be the case. The correction that started at the end of May seems to be finally over, as the $8,100 test on Wednesday has changed polarity. This, in combination with the fact that the $7,500 has been tested multiple times and hasn’t broken, indicates that the price is probably not going to down again.

What’s the evidence? Besides testing support and resistance, there’s an obvious long-term ascending trend channel on the daily chart, with an upward slope, which is also present on the 15 minute and hourly timeframes.
Anything else? The 30-day moving average and the 10-day moving average are both increasing, and the stochastic oscillator moving into the oversold range. Both MAs increasing, in the same direction is a pretty good indicator of an uptrend.
What about the risks ahead? There’s nothing obvious in the short-term to push the price down, and long term, the bitcoin halving and improving fundamentals should only be pushing the price up. That said, this is the crypto market, and nothing is set in stone.
Wut We Think: Bitcoin is generally becoming stronger crypto, and demand is definitely growing. With fundamentals holding near their 2019 high, and the upcoming constrained supply, it seems like a good time to go long on Bitcoin. While there will definitely be a correction in the future, it’s a good bet that it won’t be before the price shoots up, possibly breaching the $9,000 level and beyond.

 

Internet Trend Report 2019 - The Highlights

This year's State of the Internet has been released, with some rather unexpected news...like the erosion of the Google/Facebook ad dominance to upstarts like Snapchat and Pinterest. Of course, that’s not all. The report also indicated that internet growth is slowing down as over half of the world’s population is connected, and slowing down has been in Asia.
Tech companies have really taken over the world: Seven of the top ten companies by market cap are tech companies, and four of those are US-based. The companies include giants like Google, Facebook, Amazon, Google, and others.

E-commerce is big, but not as big as expected: Not only is e-commerce growth slowing down, but it only comprises 15% of retail sales in the US - a far cry from ‘brick and mortar is dead’ mentality that pervades Wall Street.

People spend more time online than ever before: Probably expected, with the average US consumer spending 6.3 hours a day online, 7% higher than the previous year. The growth is mostly down to smartphones, and desktop use is declining.
Wut We Think: It’s no surprise that internet growth is slowing, but there are welcome signs that this is just maturity - the report highlights that nearly 90% of web traffic is now encrypted, pleasing privacy advocates, though cyberbullying is on the rise, with 42% of US teenagers reporting being bullied online. However, internet freedom as a whole is decreasing, as countries like China step up their surveillance efforts and begin to adopt AI-focused approaches to controlling the internet. But there’s still hope, as people are becoming increasingly aware of their vulnerability online.

 

Crowdstrike Takes Cybersecurity To the Enterprise World

Cybercrime and cyberwarfare are on the rise...but Crowdstrike, a SaaS company selling cybersecurity measures, has made a stunning debut, rising over 70% on its debut IPO. The share price started at $34, and is currently trading at $64, showing a massive interest in the type of protections the company is offering.
What exactly is Cybersecurity-as-a-Service? Crowdstrike primarily offers what it calls ‘endpoint protection’, securing breaches for enterprise customers, even in the cloud. The company boasts that its platform is AI-powered, and is more capable of handling threats than traditional cybersecurity companies.
What about this massive valuation? The 70% price spike on the first day of trading indicates that the company’s current valuation is around $11.4 billion, worth as much as Symantec, though with only 5% of the same revenue.

Sounds like a successful IPO! It definitely is, compared to companies like Uber and Lyft, who have both taken hefty cuts in share price since their filings. However, that doesn’t mean that everything is rosy at Crowdstrike - it still recorded a net loss of $140 million in 2018.

Wut We Think: All of this adds up to mean that Crowdstrike is definitely an attractive prospect for investors, with good fundamentals (a 4.9/5  rating in Gartner for cybersecurity doesn’t hurt), and rapidly improving numbers, including 140% growth in annual recurring revenue and 172% growth in subscription customers. Crowdstrike seems well poised to snatch a good chunk of $35 billion cybersecurity market, and investors definitely want in.

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