Tesla crashed and bounced harder than any other tech stock this week-Computerfanfield

It’s been a wild week for stocks. At the close of trade on Tuesday, the tech-heavy Nasdaq had fallen 10% from its record highs set just a week earlier, a collapse noted by the Wall Street Journal as the index’s quickest 10% drop in history .

Electric car incumbent Tesla and iPhone peddler Apple found their share prices hardest hit. At their lowest points on September 8, their stocks respectively traded 31% and 20.5% below their highs on September 2.

Chipset makers NVIDIA, KLA, and AMD followed closely — they’d dropped 20%, 18%, and 17% respectively.

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While the market has bounced back somewhat, no NASDAQ 100 stock has bounced harder than Tesla, now up 19.40% since its September 8 low of $329.88.

Orthodontic play Align Technology, chipset prince NVIDIA, and digital lord Adobe are the next-bounciest, returning 11%, 10.5%, and 7.6% since their Tuesday lows.

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For scale, Amazon, Apple, and Microsoft have ricocheted just 6.49%, 5.8%, and 5% respectively, and the NASDAQ 100 overall is up 4.6% over the same time frame.

As for who is yet to recover, just four NASDAQ 100 companies are still down since Tuesday’s low: Lululemon (-5.09%), Walgreen Boots (-2.80%), Mylan (-0.97%), and Lam Research (-0.15%).

None of this is investment advice. Don’t pretend it is, because it’s not. Always do your own research, but do join our online event, TNW2020 , to hear how successful companies are adapting to a new way of working.

Cryptocurrency exchange IDAX’s CEO reportedly missing with the company’s cold wallet

A relatively small cryptocurrency exchange has halted deposit and withdrawal services after its CEO has reportedly gone missing.

The IDAX exchange posted an announcement earlier today saying it had halted some operations after its staff were unable to make contact with the global CEO.

The CEO is said to have taken access to the company’s cold wallets with them. At this point, it’s not known why the CEO has supposedly vanished.

According to CoinMarketCap, IDAX serviced some $500 million worth of Bitcoin trades over the past 24 hours — compared to top ranking exchange BitMEX, which serviced over $2 billion. (These are reported figures, so bear that in mind and exercise caution.)

IDAX says it’s still trying to get a hold of the situation and understand what is going on.

The cryptocurrency exchange says it’s drawing up an emergency plan.

It has advised all users to refrain from using its platform and services for the time being.

IDAX hasn’t stated the value of cryptocurrency held in its cold wallets. However, the announcement did say that the cold wallets stored “almost all cryptocurrency balances on IDAX [which] have been restricted.”

No timeline has been given in regard to the emergency plan or when services can expect to be back online.

This is a developing story.

Earlier this year, Gerald Cotten the CEO of Canadian cryptocurrency exchange QuadrigaCX reportedly passed away taking the company‘s private keys and $134 million worth of cryptocurrency with him.

Satoshi Nakaboto: ‘Swiss health insurer now accepts Bitcoin as payment’

Our robot colleague Satoshi Nakaboto writes about Bitcoin every fucking day.

Welcome to another edition of Bitcoin Today, where I, Satoshi Nakaboto, tell you what’s been going on with Bitcoin in the past 24 hours. As Kant used to say: Your imagination is the only tool in the book!

Bitcoin price

We closed the day, August 31 2020, at a price of $11,680. That’s a minor 0.27 percent decline in 24 hours, or -$32.48. It was the lowest closing price in one day.

We’re still 41 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin‘s market cap ended the day at $215,817,677,822. It now commands 58 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $22,285,928,250 was the highest in three days, 1 percent below last year’s average, and 69 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 349 tons of gold.

Bitcoin transactions

A total of 302,770 transactions were conducted yesterday, which is 5 percent below last year’s average and 33 percent below last year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $2.11. That’s $1.80 below last year’s high of $3.91.

Bitcoin distribution by address

As of now, there are 18,957 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 4.9 percent of the total supply, the top 100 14.2 percent, and the top 1000 34.7 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $216 billion, Intel has a market capitalization most similar to that of Bitcoin at the moment.

Bitcoin’s path towards $1 million

On November 29 2017 notorious Bitcoin evangelist John McAfee predicted that Bitcoin would reach a price of $1 million by the end of 2020.

He even promised to eat his own dick if it doesn’t. Unfortunately for him it’s 100.0 percent behind being on track. Bitcoin‘s price should have been $554,786 by now, according to dickline.info.

Bitcoin energy consumption

On a yearly basis Bitcoin now uses an estimated 68 terawatt hour of electricity. That’s the equivalent of Czech Republic’s energy consumption.

Bitcoin on Twitter

Yesterday 29,068 fresh tweets about Bitcoin were sent out into the world. That’s 41.2 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 82,838.