Chinese Economy Hits the Road to Recovery, Slow but Steady
The improving Chinese economy may still turn out to be a good thing for Bitcoin. China is on everybody’s lips lately. Be it electronics and consumer goods companies, economists or politicians, they all have their reasons to keep a close watch on the Asian economic powerhouse. Projected to be the next big global superpower alongside its neighbor India, the country is currently going through slight turbulence. Any developments in the Chinese economic situation is expected to have a widespread effect on a global scale. The slowdown experienced by the country in the past couple of years has....
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Over the past month or so, we have seen Bitcoin's price leave the comfortable range of $10 to $14 that they had been at for nearly four months and embark on a steady course upward that has almost precisely doubled its value since then. The long road up first started on January 6 when, several days after striking the January 1 low of $13.16, the currency began a slow and steady rise of about $0.15 per day. But it did not really pick up until January 16, a point a few days after the currency broke through $14 for the first time since August where Bitcoin's value spiked up suddenly to about....
The Bitstamp Price Index struck a 3-week high of $383 at 9:22 AM UTC today, soon after a steady increase from Sunday when Bitcoin price to USD opened at $362.75. The late hours of Sunday saw the price jump from $364 at 9:43 PM UTC to $372.38 at 10:55 UTC. Bitcoin price opened Monday, November 30 at $370.95. At the time of publishing, Bitcoin is trading at $375.38. The steady turnaround comes after the frenetic increase earlier this month when the price set records with increased trading from Chinese exchanges playing a significant role with the recent yearly-high. The opening of the Gemini....
The Bitstamp Price Index struck $290 early this morning, adding another milestone in Bitcoin's steady climb over the last couple of months. The bitcoin price rang in the milestone at 05:52 UTC and reached a high of $291.78. The price at the time of publishing is $290.010. The growth is likely to be a result of increased trading in Chinese Bitcoin exchanges, after China's central bank recently slashed its rates in an attempt to kickstart the slowing economy. For a live Bitcoin Price chart, click here.
Winklevoss ETF has come and gone, it was not approved. At the incident of the announcement of non-approval, Bitcoin price collapsed from $1,350 to $980 within a very short time. Several hours later, Bitcoin price has been seen to be on a steady recovery and trades at $1,230 at the time of writing. Jeremy Epstein, CEO at Never Stop Marketing, says: “This is a pothole in the road, to be sure. The decentralized asset world has to slow down and adjust, but the momentum that Bitcoin and altcoins have is past the tipping point.” Expectations were high in certain quarters before the SEC....
Bank of America has forecasted that the U.S. economy will slide into a recession this year. “A number of forces have coincided to slow economic momentum more rapidly than we previously expected,” the bank’s economists said.
US Economy Heading Into a Recession This Year, Says Bank of America
Bank of America’s economists now expect a recession in the U.S. this year. In a report published Wednesday, they explained: “Our previous baseline outlook for the U.S. economy featured a growth recession. But a number of forces have coincided to slow....