Bitcoin’s price rallies overnight as experts claim “consolidation phase” is over

Since yesterday, Bitcoin’s value has risen by nearly 4%, leading analysts to believe that another surge could be looming large on the horizon.

  • Experts believe that a near-term target of AUD$112k (US$84k) could easily be achievable for BTC
  • A report released by JPMorgan claims that Bitcoin’s “real value” at the moment stands close to AUD$47k
  • Miami Mayor Francis Suarez is reportedly going to accept his next government paycheque in the form of Bitcoin

After having stalled around the AUD$82,000 range for nearly a week, the last 24 hours have seen Bitcoin rising as high as AUD$86,400 only to correct and fall back down slightly thereafter. At press time, BTC is trading for $84,776.

Pseudonymous crypto analyst Pentoshi believes that BTC was undergoing a period of consolidation and that more upward action could be on the cards over the coming few days and weeks, adding: “Any pullback towards US$62.5k is a

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ABFRL reports nearly two-fold jump in Q2 revenue to Rs 2,054 crore, Retail News, ET Retail

New Delhi: Aditya Birla Fashion and Retail Ltd (ABFRL) today reported its revenue for the second quarter ended September doubled to Rs 2,054 crore backed by eased mobility restrictions and growing online retail channels. Revenue stood at Rs 1,028 crore in the same quarter of last financial year.

The company’s Lifestyle Brands division — which houses retail brands such as Peter England, Louis Philippe, and Van Heusen — doubled its sales to Rs 1,156 crore in comparison to last year’s Rs 531 crore. It reported a 92 per cent recovery as compared to pre-covid levels riding on its small-town expansion strategy.

Apparel store Pantaloon, a part of ABFRL, recorded an 80 per cent increase in sales to Rs 665 crore for the quarter ended in September.

“Pantaloons recorded a recovery of 73 per cent of pre-COVID levels. The prolonged restrictions on shopping malls which constitute a large share of the

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Online fashion retailer Zalando braced for supply squeeze, Retail News, ET Retail

BERLIN: German online fashion retailer Zalando reported a slump in quarterly profit on Wednesday after it cut prices to keep customers shopping online as stores reopened, but said it was well positioned to cope with a supply crunch.

With many fashion brands hit by the closure of Asian factories due to coronavirus lockdowns, finance chief David Schroeder said Zalando was well stocked for the next few months, with inventories up 41% compared to last year.

However, Schroeder said the company could see delays to deliveries of items for next spring/summer, not just for sneakers, with the sportswear industry particularly hurt by factory closures in Vietnam.

“Would we want to have even more stock, especially in the sneaker category? Yes,” Schroeder said. “But thanks to our platform model, we think we will find better answers to these challenges than many of our competitors in the industry.”

Zalando shares were down 2.3%

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Body shaming, or man’s best friend?

There’s a new style out there for men whose six-packs sit on a fridge shelf.

Clothing is now being marketed specifically to dudes with “dad bods,” the now socially acceptable term for any man — parent or not — who has a rounded gut mixed with some muscle tone.

Brands such as online retailer True Classic are cutting shirts to be tightly flattering on the torso and upper arms while looser around the midsection. The goal is to give a happy medium of fashion and comfort to men who — if their marketing is to be believed — could never simultaneously enjoy both before.

“It’s tight on the chest and shoulders and then loose on the front for people with dad bods . . . you’re a DILF,” an online ad for True Classic reads.

Those quick and zippy ads, which have found their way onto many a man’s social

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Welsh indies back Covid restrictions

New Covid restrictions come into place in Wales on 15 November, but fashion independents remain optimistic for a strong Christmas if a lockdown can be avoided.

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