SPI Energy Co Ltd
Change company Symbol lookup
Select an option...
SPI SPI Energy Co Ltd
AMC AMC Entertainment Holdings Inc
BOF BranchOut Food Inc
KITT Nauticus Robotics Inc
EAT Brinker International Inc
JCSE JE Cleantech Holdings Ltd
GVP GSE Systems Inc
CURV Torrid Holdings Inc
APRN Blue Apron Holdings Inc
BXRX Baudax Bio Inc

Information Technology : Semiconductors & Semiconductor Equipment | Small Cap Value
Company profile

SPI Energy Co., Ltd. is a provider of photovoltaic (PV) and electric vehicle (EV) solutions for business, residential, government and utility customers and investors. The Company operates through three segments: EV business, renewable energy solutions business and solar projects development business. The Company develops solar PV projects that are either sold to third-party operators or owned and operated by the Company for selling electricity to the grid in multiple countries in Asia, North America and Europe. In Australia, The Company primarily sells solar PV components to retail customers and solar project developers. The Company’s subsidiaries include SolarJuice Co., Ltd, Solar Juice Pty Ltd., Solarjuice American Inc., Sloar4america Technology Inc., Italsolar S.r.l., SPI Solar Japan G.K., Solar Power Inc UK Service Limited, SPI Solar Inc., Heliostixio S.A., Thermi Sun S.A., Knight Holding Corporation, Edisonfuture Inc., Phoenix Motor Inc. and Phoenix Motorcars Leasing LLC.

Closing Price
Day's Change
-0.0204 (-2.49%)
B/A Size
Day's High
Day's Low
(Heavy Day)

10-day average volume:

Bitcoin could soon reach $45,000 if this pattern repeats, analyst says. Has the crypto started a new bull market?

11:46 am ET May 4, 2023 (MarketWatch)

By Frances Yue

Welcome back to Distributed Ledger. This is Frances Yue, crypto reporter at MarketWatch.

Find me on Twitter at @FrancesYue_ to share any thoughts on crypto, this newsletter, or your personal stories with digital assets.

Bitcoin has rallied over 70% so far this year, but it's still down almost 60% from its record high in November 2021. The cryptocurrency is trading at slightly below $28,500 on Thursday, according to CoinDesk data.

This week, I caught up with Vetle Lunde, senior analyst at K33 research, who said bitcoin could reach as high as $45,000 in a month, if it follows the patterns it saw after the 2018-2019 bear market.

There are a lot of similarities between bitcoin's year-to-date rally and its recovery path after the 2018-2019 bear market, according to Lunde.

Find me on Twitter at @FrancesYue_ to share any thoughts on crypto, this newsletter, or your personal stories with digital assets.

A familiar rally?

For both the recent bear market and the one from 2018 to 2019, it took bitcoin about 370 days to reach bottom from the cyclical peaks, Lunde wrote in a recent note.

Meanwhile, 510 days into both cycles, bitcoin are down about 60% from the previous peaks, according to Lunde.

In June 2019, bitcoin's bear market rally topped $13,852, 556 days after it reached the 2017 peak at $19,752. If the crypto follows a similar pattern this year, it could reach as high as $45,000 on around May 20, noted Lunde.

Meanwhile, there was intense fear in the market during both bear markets, Lunde said in a phone interview.

In late 2018, crypto investors were concerned about U.S. regulators' crackdown of initial coin offerings, and worried that a split of Bitcoin Cash, a fork of the Bitcoin blockchain, would weigh on the largest cryptocurrency's price.

Similarly, FTX's collapse in November last year led many investors to sell their bitcoin or short the cryptocurrency, as they expected further losses in digital asset prices, Lunde noted.

Later, as markets slowly and gradually started to climb, people "who were underexposed or maybe even have a short exposure in crypto started to rotate back in again," Lunde said.

To be sure, there are several key differences between the current market and the one in 2018 and 2019. The crypto market has matured a lot, with less concentration of coin holdings and more institution participation, Lunde noted. The crypto derivatives markets also became more developed, Lunde said.

In addition, cryptocurrencies other than bitcoin have gained prominence and investors now have more options, according to Lunde.

What's more, the macro environment has changed significantly. The broader economic environment, which currently looks vulnerable to a recession, didn't matter as much to bitcoin's price back in 2018 as it does now, as there was less institutional adoption of crypto in the past, Lunde noted.

The Federal Reserve also has indicated it plans to keep rates high, currently at 5% on the top end of its policy range, for a while, as it looks to tamp down inflation after an era of loose monetary policy that aided crypto and other risky assets.

Hope for consolidation

With recent stress in the U.S. banking system calming down and investors looking to the next Federal Reserve rate-setting committee meeting in May, Bitcoin's price is now primarily driven by technical factors, according to William Cai, co-founder and managing partner at Wilshire Phoenix.

He thinks a consolidation in the range of $25,000 and $30,000 would help bitcoin to break and hold above $30,000, a psychology level, for an extended period.

Gensler declined to say whether ether is a security

House Republicans on Tuesday criticized the U.S. Securities and Exchange Commission for its oversight of the crypto industry, arguing that the agency's chairman Gary Gensler has been overly aggressive in bringing enforcement actions against the industry, while refusing to clearly state which tokens he sees as under its jurisdiction.

"You've refused to provide clarity on whether digital assets...are subject to securities laws and more important, how these firms should comply with these laws," said Rep. Patrick McHenry of North Carolina, the Republican chairman of the House Financial Services Committee, during an oversight hearing.

McHenry pressed Gensler to state whether ether, the second largest cryptocurrency by market capitalization, was a security, but he declined to go into specifics on any particular digital token. Gensler has repeatedly said most cryptocurrencies are securities.

Read more in this article by MarketWatch's Chris Matthews.

Crypto in a snap

Bitcoin declined 4.9% in the past week and was trading above $28,000 on Thursday, according to CoinDesk data. Ether dipped 0.6%% in the same period to above $1,900.

Biggest Gainers  Price         %7-day return 
Radix            $0.09         42.3% 
Baby Doge Coin   $0.000000003  36.4% 
OKB              $52.97        25.3% 
Render           $1.95         22.1% 
Arbitrum         $1.42         18.8% 
                               Source: CoinGecko 
Biggest Decliners  Price  %7-day return 
Kaspa              $0.03  -21.6% 
Stacks             $0.73  -18% 
Conflux            $0.33  -14.4% 
ImmutableX         $0.98  -12.9% 
Bitget Token       $0.39  -12.2% 
                          Source: CoinGecko 

Crypto companies, funds

Shares of Coinbase Global Inc. (COIN) tumbled 11.6% for the week to around $60.95. MicroStrategy Inc. (MSTR) lost14.2% thus far on the week, to $292.84.

Crypto mining company Riot Blockchain Inc. (RIOT)'s shares declined 19.5% to $10.87 as of Thursday. Shares of rival Marathon Digital Holdings Inc. (MARA) lost 17.4% to $9.51 over the past week. Ebang International Holdings Inc. (EBON) edged up 2% over the past week to around $6.02.

Overstock.com Inc. shares (OSTK) added 2.7% to $18.90 over the week.

Shares of Block Inc. (SQ), formerly known as Square, declined 3.6% to $62.24 for the week thus far. Tesla Inc. (TSLA) shares plunged 13% to $161.63.

PayPal Holdings Inc.'s (PYPL) stock was down 2.3% over the week to trade at around $73.76. Nvidia Corp.'s (NVDA) gained 2.5% to $271.18 for the past week.

Advanced Micro Devices Inc. (AMD) shares dropped 2.6% for the week at $89.73.

Among crypto funds, ProShares Bitcoin Strategy (BITO) lost 8.8% over the week to $16.67 Thursday, while counterpart Short Bitcoin Strategy ETF (BITI) rallied 9.3% to $21.09. Valkyrie Bitcoin Strategy ETF (BTF) plummeted 9% over the past week to $10.94, while VanEck Bitcoin Strategy ETF (XBTF) fell 7.7% to $28.39.

Grayscale Bitcoin Trust (GBTC) retreated 11.6% over the past five days to $15.88 on Thursday.

-Frances Yue


This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.


(END) Dow Jones Newswires

May 04, 2023 11:46 ET (15:46 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2023 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2023. All rights reserved.