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Fed Expects 2 Rate Hikes in 2023, Stock Market Plunges, Powell Anticipates Higher Inflation
17.6.2021
The Federal Reserve on Wednesday told the public that it has forwarded the time frame for raising interest rates. “Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain,” the Federal Open...
Bitcoin price falls after Fed shifts interest rate hikes forward amid inflation fears
16.6.2021
Stock markets and Bitcoin price took a slight hit after the Federal Reserve announced plans to increase interest rates twice in 2023, a tad bit earlier than markets expected
Nigerian Central Bank Threatens Jail Time for Citizens Caught Defacing Naira Banknotes
16.6.2021
Fighting to stop the value of the naira from dropping further, the Central Bank of Nigeria (CBN) faces yet another problem: abuse of naira banknotes. According to the CBN’s Aladeen Badajo, the central bank is concerned with the rate at which Nigerians “mutilate, deface, squeeze and even...
Market Wrap: Attempts to Push Bitcoin Above $40K Stall
15.6.2021
Some analysts are optimistic while others prefer to see stronger signs of upside momentum before calling a bottom
After Central Bank Devalues Naira by 5% Finance Minister Attributes Drop to ‘Market Forces’
14.6.2021
Nigerian Finance Minister Zainab Ahmed has denied widespread reports that the Central Bank of Nigeria (CBN) had sanctioned the devaluation of the local currency sometime in May 2021. Instead, she attributes the naira’s fall to the “volatility in the oil price.” Ahmed’s...
Reports of Mining Sector Cleanup Put China’s Yunnan Province in the Spotlight
14.6.2021
Authorities in Yunnan are launching an investigation to identify and shut down miners that are illegally using electrical power to mint bitcoin, Chinese media reports. Inspections will also focus on potential safety hazards and will be carried out by various government departments. The mining...
Forecasting Bitcoin price using quantitative models, Part 4
12.6.2021
An intellectual attempt to estimate Bitcoin’s price, corrected according to the hash rate metric
The global corporate tax rate: crypto savior or killer?
10.6.2021
The newly proposed global tax rules will drastically influence all international companies, with crypto being a target as well
As Crypto Interest Winds Down Bitcoin’s Daily Transaction Rate Plummets to Two-Year Lows
8.6.2021
Onchain data indicates that bitcoin transactions per day have plummeted to lows not seen since October 2018. Further, bitcoin transaction fees have dropped 93% after touching a high of $62 per transaction in April 2021. Bitcoin Daily Transaction Rate Dips by 35%, Google Trends Data Shows Interest...
Filipinos Can Now Cash in Crypto Without Fees Through Moneybees OTC Outlets
4.6.2021
PRESS RELEASE. With cryptocurrency adoption increasing in the Philippines, Filipino users are looking for ways to convert their digital assets into cash at an affordable rate. The Central Bank of the Philippines has recorded P76 billion (US$ 1.5B) worth of transactions processed by local virtual...
Cheap Power Is Creating a Bitcoin Mining Boom in Argentina
2.6.2021
Argentina, the ailing South American country, is experiencing a cryptocurrency mining resurgence due to artificially low power rates maintained by subsidies from the national government. This fact, alongside exchange controls and the possibility of selling obtained assets at a higher exchange rate...
Nigeria’s Naira Loses Ground on Forex Black Market Just a Few Days After Devaluation
28.5.2021
The Nigerian naira currency lost further ground against major currencies after it depreciated to 493 nairas for one dollar on the black market on May 25, 2021. Before the latest depreciation, the currency had stabilized at around 485 nairas to the dollar. This was shortly after the exchange rate...
Chinese BTC miners equivalent to Quebec's output on the move: Slush Pool
28.5.2021
According to Edward Evenson, a Bitcoin miner from Slush Pool, Chinese BTC miners are on the move
Nvidia Aims to Get Its GPUs Back ‘Into the Hands of Gamers’ by Reducing Mining Capabilities on 3 Graphic Cards
20.5.2021
A major chipmaker keeps making efforts to calm down the gaming community’s anger toward cryptocurrency miners who are taking the lead in buying graphic cards massively, boosting its prices. Nvidia has announced that it will deliberately limit the capabilities for some of its newly graphic...
Nvidia extends limits on crypto mining to newest gaming graphics cards
18.5.2021
The global head of GeForce marketing at Nvidia said that the reduced hash rate "only applies to newly manufactured cards," not to GPUs already purchased
Coinbase Shares Down 27%, $1.2B Convertible Debt Deal Announced, Shareholder Letter Says ‘Competition Increasing’
18.5.2021
Coinbase shares have dropped in value during the last month after opening at $342 per share. The company’s shares have dropped over 27% to $248 per share since the Nasdaq listing in mid-April. On Monday, the firm further announced intentions to sell $1.25 billion of convertible debt. Coinbase...
Why The Inflation Rate Doesn’t Tell The Whole Story
16.5.2021
Richard S. Warr, Professor of Finance, North Carolina State University.
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Markets, economists and policymakers have been fretting about inflation for months, worried that the trillions of dollars being spent in recent and future government stimulus programs could overheat the economy...
Grayscale Fund Touts ETF Conversion as Price Discount Issue Solution
16.5.2021
Grayscale, one of the largest cryptocurrency fund managers, has declared it is trying to morph the bitcoin trust GBTC into an exchange-traded fund (ETF) to solve its price woes. The exchange rate is now at a 20% price discount compared to its bitcoin holdings, a fact that has many worried about...
Bitcoin Whale Count Shrinks- Speculators Assume Trickle Distribution or Possible Address Reorganizations
14.5.2021
The price of bitcoin has seen better days, as the coin’s value hit $59,600 four days ago and then saw the exchange rate tumble to a low of $45,700 per unit on May 12. There have been talks of whales selling coins and data shows that there’s been some large wallet inflows. However...
Oh where, oh where have Ethereum bulls gone? Sub-$4K ETH fails to entice traders
14.5.2021
It seems the low funding rate on ETH futures contracts and the recent 96% rally are not enough to convince traders to buy the Ethereum price dip