Rough Waters Ahead For The US Dollar
Historical cycles and paradigm shifts in monetary policy can give us a look into Bitcoin’s potential and the future value of the U.S. dollar.A “paradigm,” as defined by Ray Dalio, is a period of time during which “Markets and market relationships operate in a certain way that most people adapt to and eventually extrapolate.” A “paradigm shift” occurs when those relationships are overdone, resulting in “markets that operate more opposite than similar to how they operated during the prior paradigm.”Prior to 2008, there were four such paradigm shifts, each identified by a material change in....
Related News
Bitcoin slipped into negative territory ahead of the Federal Reserve Chairman Jerome Powell’s scheduled speech about the US economy. The benchmark cryptocurrency waved between profits and losses, only to fall by 0.85 percent to $10,701 ahead of the New York opening bell. Futures tied to Bitcoin also plunged by 0.37 percent, signaling a rough start […]
COMP, a governance token associated with lending platform Compound, is back into rough waters after sailing calmy for days. The 37th-largest cryptocurrency by market cap fell by $25.14, or 20.15 percent, to $100.68. Its move downside started at a local top of $126.10, established after an eight-day upward consolidation of around 45 percent. That was […]
House Financial Services Chair Maxine Waters told President-elect Joe Biden to undo the OCC's crypto guidance after he takes office next year.
The ranking member of the House Financial Services Committee praised the bipartisanship behind the coming bill, but says there are “complex conversations” ahead. Patrick McHenry, ranking member of the United States House of Representatives Financial Services Committee, thinks the “conversation has become unmoored” about financial technology and needs to return to solving real world problems. He is in talks on legislation that may at least bring more clarity to stablecoins.Currently, there is no U.S. federal definition of digital assets or stablecoin, McHenry said, calling the situation....
Earlier this week, Congresswoman Maxine Waters announced that Congress had formed a new working group that would focus on cryptocurrency and fintech policy. Called the Blockchain Caucus or Fintech Task Force, the House Democrat group will feature 12 members of the House Financial Services Committee. I applaud Chairwoman Waters' decision to elevate the attention given […]