2 years ago
Date: 19 Feb 2022 - 14:13
Fed minutes are indicative of a plan to aggressively raise rates.Fed officials during the meeting also expressed concern over cryptocurrencies and stablecoins.nbspAnalysts are unsure of how this development may impact the cryptocurrency markets.The release of the Feds January meeting minutes has made it clear that the Fed plans to raise rates more aggressively with inflation at record levels. In the released minutes the Fed also broached the topic of crypto and stablecoins raising concerns about the growth of the asset class.Cryptocurrency Endangers Financial StabilitySince November 2021 the Fed has become more hawkish shutting down a lot of stimulus programs to ease the printing of the dollar. However up till now the body has remained reluctant to raise rates. This stance has changed after the Federal Open Market Committee FOMC meeting in January revealed that the Fed was going to raise rates in March.The minutes of the FOMC meeting in January have now been released and they reveal that the Fed plans to raise rates more aggressively than was thought previously. It was decided that if inflation did not go down as expected they would raise rates at a faster pace. The Labour Department report showed that inflation was at 7.5 0.2 higher than predicted.According to the minutes If inflation does not move down as they expect it would be appropriate for the committee to remove policy accommodation at a faster pace than they currently anticipate.The Fed also revealed that they were going to take trillions of dollars from the bond market. It said a significant reduction in the size of the balance sheet would likely be appropriate. The Feds assets now total about 9 trillion a 5 trillion increase from about the same time last year. However rate hikes were not the only issue discussed by the Fed. The Fed also raised concerns about cryptocurrencies and stablecoins.nbspFed officials raised concerns about the rapid growth of the nascent market because they felt that the space may be posing an increased risk to financial stability. The minutes read Some participants saw emerging risks to financial stability associated with the rapid growth in cryptoassets and decentralized finance platforms. Stablecoins were categorized as 8220another vulnerability in funding markets. It is important to note that these sentiments may influence future policy around the nascent market.nbspnbspMarket Reaction And OutlooknbspFollowing the release of the minutes there were retracements across the board in the crypto markets. Bitcoin fell from a high of 44132 to a close of 40538 a 9 drop. Other assets like Ethereum BNB and Solana also had 7 6.7 and 8.8 drops from their highs.nbspAt the moment the markets have not moved much from the close of yesterdays market. Bitcoin is currently trading at 40182 on major exchanges 0.82 below the last day.nbspTom Lee cofounder of Fundstrat Global Advisors in an interview with CNBC gave his view on Bitcoin with rumors of impending rate hikes. He expressed his belief that trillions of dollars will flow from bonds to equities and a lot of that speculative capital will end up in crypto markets.nbspRead in the source
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Crypto News Show morenavigate_next
The CEO of the worlds leading cryptocurrency exchange Binance Changpeng Zhao CZ said that he expects more transparency from Lunas team following last weeks USTLUNA fiasco.Last week saw a top cryptocurrency literally go to zero in a matter of days.UST 8211 Terras algorithmic stablecoin 8211 lost its peg and crashed to some 0.225. Because of how the protocol works this created a massive arbitrage op
Yesterday the SEC filed insider trading charges against a former employee of Coinbase who frontran token listings. This could all be part of a plan to disrupt the entire crypto exchange model. Coinbase is not planning to back down.
Sharyn Alfonsi journalist and 60 Minutes correspondent interviewed Mike Peterson one of the people who funded the Bitcoin Beach project and encouraged crypto adoption.
Recently former Goldman Sachs executiveRaoul Palexplained why for investors Ethereum remains the safest easiest allocation. Prior to founding macro economic and investment strategy research serviceGlobal Macro Investor GMIin 2005 Palcomanaged the GLG Global Macro Fund in London for global asset management firm GLG Partners which is now called Man GLG. Before that Pal worked at
Bitcoin is moving higher and trading above the 20000 zone against the US Dollar. BTC could surge if there is a clear move above 20580 and 20730.Bitcoin is showing a few positive signs above the 20000 support zone.The price is now trading above the 20000 level and the 100 hourly simple moving average.There is a major bullish trend line forming with support near 19800 on the hourly chart of the BTCU
The post Heres Why Cryptocurrency Becomes Financial Refuge In RussiaUkraine War appeared first on Coinpedia Fintech amp Cryptocurreny News Media Crypto GuideBitcoin Ethereum and other cryptocurrency prices have swung wildly over the last week as Russias invasion of Ukraine sends shockwaves through global markets. After the war Bitcoin resurged to 39K and remained in a positive zone above the 38K
Satish Kumbhani the founder of Bitconnect 8211 a type of Ponzi scheme involving an opensource cryptocurrency that was connected with a highyield investment program 8211 has been booked by police in Pune Maharashtra India according to Indian media reports.A fresh charge was filed by a Punebased lawyer saying he had lost close to 220 bitcoins equivalent to 5.26m 8211 through multiple cryptocurrency
Statelevel organizers in the U.S. are working hard to advance the blockchain and crypto markets and their emerging players.
The Ethereum Merge has been completed but Immutable Xrsquos CTO says the Merge wonrsquot hurt layer2 platforms like Immutable X.Alex Connolly CTO of Immutable X revealed in a recent blog post that the Ethereum Merge wouldnrsquot hurt layer2 platforms like Immutable X and Polygon.The Ethereum blockchain completed the highlyanticipated Merge event a few hours ago. This means that the Ethereum blockc
The post This is When Bitcoin BTC Price Will Hit 50k Traders Watch These Levels appeared first on Coinpedia Fintech amp Cryptocurreny News Media Crypto GuideFor the first time in a long time the crypto market cap has surpassed 2 trillion with bitcoin briefly reaching 45000. In the last 24 hours the cryptocurrency has maintained its upward trajectory reaching and briefly surpassing 45000. This is
At least some were buying the dip below 20000 data shows while PlanB fields fresh criticism of his stocktoflow BTC price models.
The Cardano ADA network has recently seen the launch of a new decentralized lending protocol for the unbanked called Meld. Over the last three days after the protocol launched users staked 100 million MELD tokens on it to earn interest while insuring its activities. According to an announcement Meld made on Twitter the milestone was
Key TakeawaysCardano wallets holding between 10000 to 100000 ADA have been accumulating more coins.According to Santiment this category of investors often mark the top of the market.ADA has been among the top gainers in the crypto market on the day.This group of Cardano ADA investors may be the key metric to watch for the price of ADA. According to Santiment a behavior analytics platform for crypt
With this initiative the government plans to restore momentum to the use of BTC and get 70 of the population to adopt the digital Jamaican dollar.The central bank digital currency is expected to enter circulation in the first quarter of this year.The Prime Minister of Jamaica will highlight the advantages of using the digital dollar which will help increase financial inclusion.The Jamaican governm
Twitter scammers are on a hunting spree for verified accounts. This time it targeted the official Twitter handle of Indias University Grants Commission UGC on 10th April. The account which has around 296000 followers was briefly compromised when unidentified hackers took control and posted a series of tweets tagging numerous unknown persons across the world. 8230