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Bitcoin Price and Ethereum Down 4%; Market Braces for US CPI & FOMC Rate Decision This Week
12.12.2022
On December 12, Bitcoin broke through the upward channel at $17,000, allowing for more selling on the downside. Similarly, Ethereum has followed suit, emerging from an ascending triangle pattern on the downside to close below the $1,260 support level....
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Elon Musk: Recession Will Be Greatly Amplified if the Fed Raises Rates Next Week
11.12.2022
Billionaire Elon Musk, the CEO of Tesla and Spacex, has warned that the recession will be “greatly amplified” if the Federal Reserve raises interest rates again next week. He added that things will “probably start looking better” in the second quarter of 2024. Tesla CEO Elon...
First Mover Asia: Bitcoin Holds Its $17K Perch Amid Rate Hike Concerns
7.12.2022
ALSO: Sam Reynolds writes that Asia is ready for a scaled up, crypto-friendly bank, particularly if the U.S. oversteps in regulating the industry following the recent FTX debacle
Fantom wants to cut token burn rate by 75% to fund dApp rewards program
1.12.2022
"Fantom will become the youtube/twitch of blockchain platforms," commented ecosystem architect Andre Cronje
November Jobs Report On Deck as Powell Confirms Slower Pace of Rate Hikes
1.12.2022
Friday’s employment report for November is expected to show a sizable slowdown in hiring, but the labor market remains too tight, according to Federal Reserve Chair Jerome Powell
Bitcoin sees worst monthly close in 2 years as traders watch $16.7K
1.12.2022
BTC price action strengthens into the November monthly candle close, but traders are already warning over getting too "cocky" on Bitcoin
Elon Musk Warns of Severe Recession — Urges the Fed to Cut Interest Rates Immediately
1.12.2022
Tesla CEO and Twitter boss Elon Musk has warned of a severe recession in the U.S. The billionaire stressed that the Federal Reserve needs to cut interest rates “immediately,” emphasizing that the Fed is “massively amplifying the probability of a severe recession.” Elon Musk...
Markets Spike After Fed Chair Says It ‘Makes Sense to Moderate the Pace’ of Rate Hikes, Hints Easing Could Happen in December
30.11.2022
Equities, precious metals, and cryptocurrencies shined on Wednesday following Federal Reserve chairman Jerome Powell’s speech at the Brookings Institution in Washington. The crypto economy increased 3.11% to $860 billion, while the top four stock indexes jumped between 2% to 5% higher...
Venezuelan Currency Plunges Almost 40% Against the US Dollar, Analysts Cite Crypto Drought as Part of the Problem
27.11.2022
The Venezuelan fiat currency, the bolivar, has lost almost 40% in its exchange rate against the U.S. dollar in a month. According to reports, the seasonal payments that the government has to make, and the lack of liquidity of the government to intervene in the currency market are part of...
Bitcoin mining revenue lowest in two years, hash rate on the decline
27.11.2022
The total Bitcoin mining revenue — block rewards and transaction fees — in U.S. dollars fell down to $11.67 million, a number last seen on Nov. 2, 2020, when Bitcoin’s trading price was around $13,500
Bitcoin, Ethereum Technical Analysis: ETH Back Above $1,200, as Federal Reserve Set to Pivot Policy
24.11.2022
Ethereum moved back above $1,200 on Thursday, as markets continued to react to the latest Federal Open Market Committee (FOMC) minutes. Yesterday’s report hinted that the U.S. Federal Reserve could pivot to smaller interest rate increases “soon.” Bitcoin was largely unchanged...
Bitcoin Jumps Briefly After Fed Minutes Show Officials Favor Slower Rate Hikes
23.11.2022
The majority of Federal Reserve officials thought slower rate hikes would be appropriate soon. It is still unclear how high the terminal rate will be
Iris Energy to cut mining hardware after defaulting on $108M loan
22.11.2022
The Australian mining firm has had to unplug hardware that was producing "insufficient cash flow" to service its "debt financing obligations."
Nigeria’s Rising Inflation and Foreign Exchange Shortages Fueling Devaluation Speculation — IMF Mission
20.11.2022
According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluation speculations. To achieve a unified naira exchange rate, the global lender said...
Gold Outshined Bitcoin This Month Climbing 6% Higher Amid US Real Estate Slump, Lower CPI Data
19.11.2022
This month, gold has outperformed bitcoin after crypto markets shuddered from the recent FTX collapse, and the precious yellow metal climbed 6.12% since the first of November. The U.S. housing market has shown weaknesses and October’s U.S. inflation rate was lower than expected. Analysts...
Amazon's MMO Forces Players To Pay Higher Tax Rate Than Jeff Bezos IRL
16.11.2022
Last week, New World’s patch notes indicated that taxes on Trade Post transactions would increase from 2.5 percent to a whopping 5 percent. What’s funny about this situation is that the MMO is published by Amazon Games, which is owned by Jeff Bezos. Last year, ProPublica reported that Jeff Bezos...
Ark Invest CEO Warns Fed’s Actions Could Lead to 1929-Like Great Depression — Elon Musk Agrees
14.11.2022
The CEO of investment management firm Ark Invest has warned that if the Federal Reserve does not pivot, the current economic setup will be similar to 1929 when the Great Depression started. Tesla CEO and Twitter chief Elon Musk agreed. The Fed, Inflation, and the Great Depression Ark Invest...
TRX’s USD Exchange Rate Jumps 270% Higher on FTX After Exchange Brokers Deal With Tron
11.11.2022
On Thursday, at approximately 12:48 p.m. (ET), the embattled exchange FTX revealed that it has created a special facility with Tron. The deal allows holders of specific Tron-based coins to withdraw the tokens to external wallets on a 1:1 ratio. While coin market aggregation sites say tron tapped...
Nigerian Currency Gains Versus US Dollar Days After Tapping All-Time Low
10.11.2022
Just a few days after plummeting to its worst exchange rate against the U.S. dollar ever, the Nigerian currency was trading at around 820 units for every dollar on Nov. 8, a report has said. An economist has suggested that the Central Bank of Nigeria’s controversial currency plan is unlikely...
World’s Worst Performing Currency, the Cedi, Reverses Gains — Economist Steve Hanke Says Ghana Inflation Now Over 140%
10.11.2022
Just days after registering marginal gains against the U.S. dollar, the Ghanaian currency — the cedi — slipped to C14:$1 versus the U.S. dollar on the foreign exchange parallel market on Nov. 7. The cedi’s reversal is said to have dented the currency’s recovery prospects. On the other...