For months, the Bitcoin price rose this year – regardless of a fast-spreading pandemic, the resulting economic turmoil, and poor evaluations by the mainstream media houses. Then, in September, the cryptocurrency came crashing down.
On Sunday, Bitcoin experienced a brief pump-and-dump.
Bitcoin fell below $10,000 this weekend even as a majority of crypto warriors on Twitter were expecting a supersonic price boom towards $13,000, $14,000, $15,000, $20,000, and beyond.
The cryptocurrency market is experiencing a deja vu, thanks to DeFi, a backronym for decentralized finance.
Bitcoin price came in the middle of uncertainty this week as investors waited for Jerome Powell, the Federal Reserve chairman, to deliver his keynote address at this year’s Jackson Hole Symposium, an annual retreat that sees global central bankers breaking bread over high-profile economic table-talks.
Warren Buffett is the same person who once loathed the idea of owning gold or Bitcoin. The legendary investor trashed the precious metal back in 2000 by calling it an unproductive asset.
Bitcoin lately surged back towards $12,000, a mighty level that last reacted very violently to the cryptocurrency’s bullish advances and crashed its price by $1,500. Last week, Bitcoin attempted to break the level all over again. It briefly managed to do so before plunging all over again. Only this time, the correction was less severe,…
Nothing changed in the message the Federal Reserve delivered after concluding its two-day policy meeting on Wednesday. Jerome Powell, the US central bank’s chairman, decided to maintain their benchmark interest rates near zero and pledged to offer more monetary support if necessary. As he delivered his monthly press brief, the US dollar index was falling…
Bitcoin this week broke up its three-month-old relationship with the US stocks. The hottest cryptocurrency is now dating gold. A rebound relationship ensues. In non-Woody Allen’s terms, the short-term correlation between Bitcoin and the S&P 500 plunged this week – from 78.8 percent two weeks ago to 42 percent. At the same time, the cryptocurrency’s proximity with…
The pace of gains in DeFi is crazy.
Also known as Decentralized Finance, the DeFi sector is booming in anticipation that it would change the way people look at finance.