The Federal Reserve’s pursuit of a ‘reverse wealth effect’ is undermining crypto
The Federal Reserve’s strategy to hike interest rates may continue, making it difficult for the crypto industry to bounce back. For crypto assets to become the hedge against inflation, the industry needs to explore ways to decouple crypto from traditional markets. Decentralized finance (DeFi) can perhaps offer a way out by breaking away from legacy […]
Bitcoin sees worst monthly close in 2 years as traders watch $16.7K
Bitcoin (BTC) attempted to flip $17,000 to support on Dec. 1 after sealing its lowest monthly close in two years. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin gains inch up as November end Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $17,100 in a second intraday charge at higher levels. The pair […]
Fed’s Powell: DeFi needs appropriate regulation before expanding to retail
United States Federal Reserve chairman Jerome Powell has spoken out about the expansion of decentralized finance (DeFi) and its impact on the traditional finance ecosystem, calling for appropriate regulation. During an event titled the “Opportunities and challenges of the tokenisation of finance” hosted by the Banque de France on Sept. 27, Jerome Powell said there […]
Jerome Powell is prolonging our economic agony
Can we all agree that the Federal Reserve has a plan to combat runaway inflation? They do. Chair Jerome Powell has all but admitted it. After tempering his comments before previous rate hikes, allowing wiggle room which gave way to market rebounds, Powell has left no bones about this one. It is necessary to wreak […]
Surge or purge? Why the Merge may not save Ethereum price from ‘Septembear’
Ethereum’s native token, Ether (ETH), is not immune to downside risk in September after rallying approximately 90% from its bottom of around $880 in June. Much of the token’s upside move is attributed to the Merge, a technical upgrade that would make Ethereum a proof-of-stake (PoS) protocol, slated for Sep. 15. But despite logging impressive gains between […]
Bitcoin price clings to $20K as analyst says Fed ‘buried’ soft landing
Bitcoin (BTC) fluctuated around the key $20,000 mark into Aug. 31 as the outlook on United States inflation darkened. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD again dipping below the last halving cycle’s top overnight, only to regain lost ground to circle $20,300 on the day. The rangebound moves accompanied modest recoveries for […]
US dollar hits new 20-year high — 5 things to know in Bitcoin this week
Bitcoin (BTC) heads into the first week of September on a rocky road downhill after United States markets’ Jackson Hole rout. After the U.S. Federal Reserve reinforced hawkish comments on the inflation outlook, risk assets sold off across the board, and crypto is still reeling from the aftermath. A fairly nonvolatile weekend did little to […]