Bitcoin price clings to $20K as analyst says Fed ‘buried’ soft landing
The U.S. inflation narrative shifts away from ease-of-control in what could further pressure risk asset performance. Bitcoin (BTC) fluctuated around the key $20,000 mark into Aug. 31 as the outlook on United States inflation darkened.Data from Cointelegraph Markets Pro and TradingView showed BTC/USD again dipping below last halving cycle’s top overnight, only to regain lost ground to circle $20,300 on the day.The rangebound moves accompanied modest recoveries for U.S. stocks, with the S&P 500 and Nasdaq Composite Index up 0.15% and 0.6% within the first hour’s trading,....
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Jerome Powell is lengthening economic pain by refusing to raise interest rates at the necessary pace. It’s time to rip off the band-aid. Can we all agree that the Federal Reserve has a plan to combat runaway inflation? They do. Chair Jerome Powell has all but admitted it. After tempering his comments before previous rate hikes, allowing wiggle room which gave way to market rebounds, Powell has left no bones about this one. It is necessary to wreak some havoc on the economy and put downward pressure on the labor markets and wage increases to stop the creep of inflation. Whether you buy into....
BitMEX will place a bitcoin wallet holding 1 BTC on the surface of the moon as part of the first-ever commercial soft landing on its surface.
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Bitcoin Core, an “open source software project that is a direct descendant of the original Bitcoin implementation”, released a statement late last week on its website. The main focus was how Bitcoin consensus rules were changed, which is typically through soft forks and hard forks. Hard forks and soft forks do virtually the same thing, so Bitcoin Core argues that soft forks are to be preferred as they do not cause the amount of harm on the Bitcoin network as a hard fork can potentially do since users can choose to upgrade to new features when they want to, or remain or the current Bitcoin....