Tag Archives: federal reserve

To say that the last seven days were rough on the cryptocurrency market would be a wild understatement. A lot happened, and the volatility jumped through the roof, so let’s start with Bitcoin. BTC’s price started going down right from the get-go. Last Saturday, it went from $39K to $36K, but the bears weren’t finished yet. Later in the day, BTC dropped below $35K and, over the next hours, consolidated around that level. On Sunday, the cryptocurrency attempted to recover a...

Many analysts are working to discover why it is that bitcoin has suddenly taken such a nasty price stumble. The world’s number one digital currency by market cap has fallen below the $40,000 mark after hovering there for the past several weeks, and it looks like it may be because BTC is in line to face some stiff competition from the Federal Reserve. The Federal Reserve Wants to Issue a New Cryptocurrency The Fed has issued a statement explaining that it has been looking...

Bitcoin’s price went turbulent during a press conference following today’s highly anticipated Federal Open Markets Committee (FOMC) meeting. It fell $1000 as Federal Reserve Chairman Jerome Powell restated plans to raise the federal funds rate in March. In his speech preceding the conference, Powell recognized that much of the labor force is unable to report for work, given current circumstances. However, he expects the effects of the Omicron wave to be brief, alongside its...

The central bank of the United States – the Federal Reserve – released a discussion paper that examines the advantages and disadvantages of rolling out a potential US CBDC. This is the first conversation that the Fed has organized with the broad public to determine whether and how the digital version of the dollar could benefit the domestic financial system. Pluses and Minuses While numerous countries, with China leading the pack, are racing to issue their own central bank...

Jerome Powell – chairman of the Federal Reserve – appears to have reversed one of his previous positions on the relationship between CBDCs and stablecoins. Testifying in front of the US congress, he suggested that both could co-exist, without the former replacing the latter. Allowing Stablecoins and CBDCs. Powell discussed the possibility of a Federal Reserve issued CBDC during his renomination hearing on Tuesday. Republican Senator Pat Toomey – a known crypto advocate –...

Another seven days have passed and, unfortunately, they weren’t any better than the week before. Traditional and cryptocurrency markets are tumbling, despite the US Federal Reserve leaving rates unchanged and increasing the country’s debt ceiling by $2.5 trillion. Bitcoin was headed well into the green last weekend when the price surpassed $50,000 on Sunday. This gave the community some relief and also brought hope that it’s time for a recovery rally. Bears had a mind of...

Dan Morehead – Chief Executive Officer of Pantera Capital – said the controversial monetary policies, which the US government enforced, could create bubbles in the financial system. In his view, bond markets “manipulated” by the Fed are the real Ponzi Schemes and not bitcoin. The Danger Comes From The Fed; not Crypto In a recent interview for Bloomberg, Dan Morehead – Founder and CEO of Pantera Capital – warned that investors dealing with bonds “are going to get absolutely...

In a CNBC interview over the week, a major hedge fund manager predicted that “massive inflation” will lead the Fed to hike interest rates six times by 2024. Crypto traders are keeping a close watch on the macro-financial environment as they wrap up another volatile month. Federated Hermes has over $600 billion in assets under management. Phil Orlando, the investment firm’s chief equity strategist, has been a long-time stock market bull but expects the big changes at the...

Jerome Powell – Chairman of the Federal Reserve – has now confessed that rising US inflation numbers are not “transitory”. As such, he is considering speeding up the taper on the Fed’s bond purchase program to bring inflation under control. As the news dropped, Bitcoin’s price almost immediately fell by $2000. Inflation Not “Transitory,” Says Powell The chairman voiced his new plans while testifying in front of the Senate earlier today. He said that the US economy is...

One of the wealthiest Mexicans – Ricardo Salinas Pliego – continues with his support for bitcoin by urging investors to allocate money to it. Comparing the primary cryptocurrency to gold, he gave his preference to the former. It’s The New Gold The Mexican billionaire businessman and Founder of Grupo Salinas – Ricardo Salinas Pliego – has been a bitcoin advocate for years. Last year, he admitted he started investing in the leading digital asset in 2016 when it stood around...