Tag Archives: United States

The extreme levels of volatility reached the U.S. dollar as well, and the world’s reserve currency is losing value. It comes only days after the historic $6.2T “stimulus package,” which aims to help individuals and businesses in need.Amid the rising threat of inflation and concerns amongst numerous experts, the cryptocurrency community broached Bitcoin’s scarcity as an alternative to the constant increase of fiat money in circulation.U.S. Measures Harm The DollarThe novel coronavirus appeared...

In the past seven days, bitcoin managed to add another 10% to its dollar-value as the price spiked from about $6,000 to its current point at $6,600. Yet, most of the time, it traded within a narrow range between $6,400 and $6,700. The overall volume has also declined, and, as such, the volatility decreased. If one thing is sure, though, is that Bitcoin doesn’t like to stay calm for long periods, and major action is likely underway.Most of the altcoins are following in Bitcoin’s lead and...

Bitcoin fell sharply along with all other assets during the global valuation collapse. Because it tracked with other assets like stocks, gold, and oil, there were more questions about Bitcoin correlation. Is Bitcoin an uncorrelated asset? One that doesn’t consistently move in the same or opposite direction as other securities?The Bitcoin price was uncorrelated with stocks over the 2019 calendar year. That seems to suggest its price has determinants that don’t overlap, either positively or...

The U.S. Department of Justice has charged the Venezuelan President Nicolas Maduro, as well as numerous current and former country officials with drug dealing operations. The perpetrators allegedly flooded the streets of the U.S. with illegal substances and used cryptocurrencies to conceal the transactions.DOJ Charges Venezuelan President MaduroAccording to the indictment from earlier today, the Homeland Security Investigations (HSI) found out that a significant number of high-level...

The pressure’s on for Congress to pass a $2 trillion spending bill to thaw the frozen economy. While they negotiate the largest ever emergency relief bill in US history, markets are getting restless. Stock futures have been volatile as the bill makes progress and stalls, then makes progress and stalls again. Voters are getting restless too. Both sides are badgering each other to “Hurry!” while negotiating a $2 trillion transaction with other people’s money.Any time either side of the partisan...

The popular encrypted messaging application Telegram won’t be able to issue its GRAM tokens, for now. This becomes clear as a US District Court granted an injunction against the company in its lawsuit filed by the Securities and Exchange Commission (SEC).Howey Test Positive: GRAM Are SecuritiesTelegram’s GRAM sale has been officially halted following a lawsuit filed by the US Securities and Exchange Commission. According to a document issued by a United States District Court on March 24, the...

Coronavirus changed everything very abruptly. If bitcoin makes a moon shot, it could quickly happen just this fast. Isn’t it strange going to the grocery and seeing all the empty shelves? The long lines of slightly nervous-looking people waiting to check out? Or sitting in your home semi-isolated, working remotely, or working reduced hours? Driving and seeing how little traffic there is on the road these days? All compared to just a month ago?Our world completely changed all of a sudden. A...

The US Federal Reserve announced a new set of measures to help the market in the current ongoing crisis. Among these moves is an open-ended commitment to keep buying assets under the quantitative easing measures. The markets responded with an uproar, and Bitcoin followed, charting a quick 13% increase before retracing to its current levels.“Open-Ended Commitment” To Purchase AssetsThe Federal Reserve announced a new set of measures aimed at saving the collapsing markets. Among the most...

NYU economics professor Nouriel Roubini attacked federal stimulus legislation Sunday as a light on aid for workers. His remarks echo the response from several prominent Democrats, including Sen. Bernie Sanders, who is running for president in the Democratic primary, and Senate Minority Leader Chuck Schumer. Likewise, House Speaker Nancy Pelosi had objections to the Senate GOP’s fiscal stimulus bill:We are beginning to review Senator McConnell’s proposal and on first reading, it is not at all...

This week was nothing if not tumultuous for Bitcoin. Last Friday, its price dropped a massive 40%, recording one of its steepest losses in history. However, throughout the past few days, Bitcoin managed to recover nicely, as it’s currently trading at above $6,000.One thing worth noting amid this crisis is the fact that Bitcoin, unlike traditional assets, held up entirely alone. It is still a largely unregulated asset, and as such, there are no safety nets around it. During the week, when the...