Blockchain Meets Nasdaq: A New Era for Tech Finance 🌐💼
Last March, 2023, I did an article in reference to the Nasdaq and how the technology applied under the blockchain was going to be widely implemented in the companies that comprise it.
Remembering some commented words:
“The Nasdaq 100, a stock market index that tracks the performance of 100 of the largest non-financial companies listed on the Nasdaq stock exchange, has been dominated by technology companies for years.”
Simply the list starting with the letter A, of Nasdaq100 companies, is already very powerful:
Advanced Micro Devices, Inc.
Alexion Pharmaceuticals, Inc.
Align Technology, Inc.
Alphabet Inc. (Class A and Class C shares)
American Electric Power Company, Inc.
Analog Devices, Inc.
Applied Materials, Inc.
ASML Holding N.V.
Atlassian Corporation Plc
Automatic Data Processing, Inc.
The incorporation of this technology will speed up many processes and will have an impact on savings, lowering some costs as well, of course. In the end, all savings are good money.
Another thing is the current situation of the index and how it began to rise almost with the birth of bitcoin, coincidentally. I am referring to the great upward movement that said index has had.
I commented back in March of this year, 2023, that we could be in a possible bullish movement in the Nasdaq. The price was at 11000 points.
I talk about the price again, since it did so and has managed to rise to almost 16,000 points. From there it has started a downward maximum.
What would happen if you don’t manage to climb and overcome this area?
In my opinion, the movement of this index could continue on a downward path, seeking approaches (it is now in the approximate area of 14,500 points), towards at least 12,500 and if it loses them, it could return again to areas of 11,000 points or even lower.
Regardless of its price, companies will implement the technology, but we are still on the verge of its massive use. And for this, time will be lacking.
The price continues to do its thing and perhaps the great movement from 2009 to 2021 is digesting the great rise (1000 points to almost 17000 points) and we have great volatility, with a more bearish than bullish trend.
I attach the graph with the channeling movements. We are observing a double bullish channel, a priori, not yet finalized. Have to wait …
Good luck with your investment decisions.
This article is not a recommendation to buy or sell any financial instrument. Talk to your trusted financial advisor.