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“# 3 reasons why Ethereum price can drop below $3K by the end of 2021 ” Ethereum’s native token Ether (ETH) reached an all-time high around $4,867 earlier in November, only to plunge by nearly 20% a month later on rising profit-taking sentiment. And now, as the ETH price holds $4,000 as a key support…
“# Bitcoin, stocks and commodities correct after Fed chair mentions policy change ” Global financial market took a hit on Nov. 30 after comments from U.S. Federal Reserve Chair Jerome Powell hinted that inflation and the Omicron Covid-19 variant are growing threats and that the bank’s easy money policies could end sooner than anticipated. Prior…
“#The Fed’s left-face decision on Jerome Powell reign” As this column goes to press, the Wall Street C-suite class is giving Jerome Powell slight odds to be reappointed as Federal Reserve chairman. Yes, he is disliked by progressives such as Elizabeth Warren; they have a big say in just about anything the Biden administration does…
“#It’s not time to hike rates” Federal Reserve Chairman Jerome Powell said on Friday the US central bank should begin reducing its asset purchases soon, but should not yet raise interest rates because employment is still too low and high inflation will likely abate next year as pressures from the COVID-19 pandemic fade. “I do think it’s…
“# Bitcoin price eyes $50K as the US Dollar retreats after hitting its one-year high ” Bitcoin (BTC) looks to reclaim $45,000 on Oct. 1 as the U.S dollar retreated lower after hitting its one-year high. Bitcoin’s tight inverse correlation with the greenback over the past month suggests that a weakening dollar could push BTC…
“#Fed foresees a potential rate hike as soon as next year” The Federal Reserve signaled Wednesday that it may start raising its benchmark interest rate sometime next year, earlier than it envisioned three months ago and a sign that it’s concerned that high inflation pressures may persist. In a statement, the Fed also said it will likely…
“# CBDCs could lead to ‘deeply negative interest rates’: Wall Street Journal ” According to the Wall Street Journal, central bank digital currencies (CBDCs) could actually negatively impact interest rates by giving policymakers an additional tool. A Sept. 8 article authored by senior columnist James Mackintosh argued that the difference between a CBDC and cash…
“#‘Little guy’ may feel sharp pain from Robinhood’s IPO arrow” The people at Robinhood made IPO history this past week when they reserved an unheard-of chunk of its initial public offering, around 35 percent, for the trading app’s small-investor clients. And if you’ve been listening to company honchos and its soon-to-be mega-rich CEO Vlad Tenev,…
“# Big bullish pattern on US dollar index chart puts Bitcoin at risk of losing $30K ” Dollar traders have kept a close eye on a potentially bullish “inverse head-and-shoulders” pattern building in the U.S. dollar index (DXY) chart. Meanwhile, the smell of a stronger greenback is weakening Bitcoin’s (BTC) upside case, especially as the…
“# Bitcoin sell-off continues as BTC nears $31K ahead of Powell’s speech ” Bitcoin (BTC) price continued its downtrend Wednesday, ahead of testimony from Federal Reserve Chairman Jerome Powell. Spot BTC/USD exchange rate fell to its seventeen-day low of $31,600 following a 3.46% intraday dip. Meanwhile, CME futures tied to the pair plunged 3.41% to…