April 15, 2015 8:52 AM | 1 min read |
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
In a report published Wednesday, analysts at BNP Paribas downgraded
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
(NASDAQ: MPEL) from Hold to Reduce. The target price has also been revised down from $21.66 to $17.09. Following the smoking ban, Melco lost mass market share in 1Q15, as competitors moved premium tables into VIP areas. The company's is likely to be further adversely impacted with the upcoming VIP smoking ban in 2016. The analysts also expect other gaming operators to adapt to the set back from the current smoking ban.According to BNP Paribas, "Given MPEL's 60% stake in Studio City (not listed), we think MPEL management will be reluctant to move gaming tables from existing properties to Studio City. This raises concern over Studio City and its loans' debt covenants if the gaming table allocation for Studio City is unfavourable."With the launch of the VIP business in Melco's City of Dreams Manila being delayed to June 2015, at the same time as the launch of Galaxy Macau Phase 2, the analysts believe that both businesses will be vying for the same set of VIP clients.
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