BTC/USD finally showed strengthening signs of becoming an independent asset. The cryptocurrency’s lack of responsiveness to Mr. Mnuchin’s anti-economy proved its resilience.
With a history of firing nasty comments at Bitcoin, the Wall Street mammoth, ranging anywhere from “bubble” to “financial scam,” appeared with candies in its hands this time.
The dilemma was the same at the beginning of July 2020: could or could not Wall Street earnings influence the Bitcoin price trend? Entering October 2020, the market has some clues about it.
A battered final month of the third quarter signaled more pain for Bitcoin, a decentralized cryptocurrency known for hedging global market risks and enabling cheaper and quicker cross-border payments.
Steven Mnuchin was one of the biggest catalysts behind the Bitcoin rebound last week.
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.