The price of major cryptocurrencies soared on Wednesday after the Federal Reserve announced that it will accelerate the tapering of its asset purchases, with the program set to expire in March, and that the benchmark interest rate would be raised three times next year. Following the Fed’s announcement, Bitcoin soared from roughly $47,800 to over…
“Taper” and “volatility” seem to be the words of the month as Bitcoin gets further away from its $69,000 November all-time high. Along with the short-term bearish sentiment in the crypto market, BTC had a pullback on December 13th dripping below $48,000. Some people see more downsides and others rather bid for BTCUSD gains. Bitcoin…
The Committee on Payments and Market Infrastructures conference was held in Basel, Switzerland. One of the main guests was the Chairman of the U.S. Federal Reserve, Jerome Powell. Referring to a report created by the institution he chairs and other banking institutions, Powell said: A recent report from the Bank for International Settlements (BIS) and…
Bitcoin hovered between gains and losses as traders waited for further clues from the US Congressional leaders on their next coronavirus aid package. The benchmark cryptocurrency jumped 0.07 percent to $22,843, suggesting it would consolidate sideways after notching another record high on Thursday at $23,6776 (data from Coinbase). Other top alternative cryptocurrencies, including Ethereum (ETH)…
Bitcoin rose Wednesday, right ahead of the release of the Federal Open Market Committee’s minutes from their November meeting. The benchmark cryptocurrency climbed 0.13 percent to $19,198, with its rally slowing down as traders weighted vaccine progress against a persistent rise in coronavirus infections in the US. Technically, Bitcoin maintained support near $19,000, with bulls…
Just when you thought China was advancing unopposed in the national digital currency race, the Fed finally steps up. The Federal Reserve Bank of Boston, in conjunction with the Massachusetts Institute of Technology, is developing a digital currency geared towards “central bank use.” On that, Boston Fed Assistant VP Robert Bench said developing the project…
Bitcoin is many things to many people, for some it is a way to make a quick buck day trading, for others a hedge against political and economic adversity and a failing banking system. Regardless of its price fluctuations, BTC does something banks never can, it empowers the people that hold it.Bitcoin Beats BanksAnother week…
There are many narratives for Bitcoin ownership but one constantly echoed is a hedge against failing fiat. A US consumer television personality and author recently told his burgeoning follower base on social media why he bought Bitcoin.Buy Bitcoin to Avoid Dollar DestructionLibertarian pundit John Stossel has been back on social media extolling the virtues of…
The signals are strengthening as the winds of economic change blow harder. A global economic slowdown has already begun as central banks scramble to prop up their economies by printing more money. The last financial crisis was caused by banks and it is highly likely they’ll be responsible for the next one. Keep On Printing…
Whenever Bitcoin prices fall off the cliff industry observers scramble to find a reason beyond the technical indicators. Something fundamental must have caused the crash and one industry executive has fingered the FED’s recent market meddling. FED Repo and Bitcoin Related? Last week the US Federal Reserve pumped more than the entire crypto currency market…