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....
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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....
SEC-battled XRP trades in the red zone despite other top coins enjoying significant gains as the crypto market finally gets some breathing space. October started out rough for top coins despite the month being known as favorable for the market. Most top coins traded in the red zone, while others, including XRP, suffered massive volatility. The Uptober spirit seemed to fall on XRP the day before when it recorded some gains. However, the momentum didn’t last long as XRP is now down 1.44% in the last 24 hours. There is still hope for XRP thanks to bullish news from its ongoing case with the....