Bitcoin Price Falls As Interest Rates Rise
Rising interest rates may seem bullish for the bitcoin price, but a credit market unwind and hawkish central bank means a market selloff in the short term.The below is from a recent edition of BM Pro, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.Rising Yields Impact Bitcoin PriceOur analysis throughout much of 2022 in regards to the bitcoin price action has held steady. Capital markets are in the midst of a deleveraging period due to elevated inflation readings....
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Magnr, formerly BTC.sx - a bitcoin derivatives trading platform - has rebranded and is now offering bitcoin saving accounts with an interest rate fixed at 2.18% for a promotional period of six months. Following this, the interest rate will be variable, dependent on trading fees generated by users on the platform. Magnr declined to reveal its trading volume but said that it had surpassed 60,000 total trades earlier this year. When asked about the potential implications of bitcoin's price volatility on users' interest rates, Josh Blatchford, chief marketing officer at Magnr, emphasized that....
A speechwriter for former U.S. President George W. Bush and a bitcoin critic, David Frum has claimed that the low-interest rates are fueling the crypto asset’s rally. Frum suggests that the crypto asset might experience a “fast and deep price crash” if and when interest rates start to rise. Institutional Interest in BTC In comments made via Twitter, Frum, who regurgitates the BTC mining inefficiency claims, also attacks the crypto asset’s store of the value proposition. He states that of “all the pro-bitcoin arguments, surely the worst is the store against....
Global interest rates are at their lowest levels in decades. This has baffled many leading economists and global fund managers. The discussion centers around deflation and the “new normal,” which has been a period defined as slow global growth and very low returns. But is this just a temporary speed bump on the road to economic recovery and rates will begin to rise as this becomes apparent? And why has no inflation been created despite the massive global easing cycle created by every central bank in the developed world? In a 4-part blog series, Former Federal Reserve Chairman Bernanke has....
The FOMC increased interest rates by 0.75 percentage point while indicating ‘unusually large’ hikes may be appropriate in future meetings; Bitcoin’s price jumps.
To get updates of my thoughts on bitcoin and the global financial markets please follow @sammantic. Miles Kimball, who is a Professor of Economics and Survey Research at the University of Michigan tells CoinTelegraph about negative interest rates, the future of paper and electronic money, and how cryptocurrrency fits in. Negative interest rates are a recent topic garnering much attention in the economic world. In no particular order, Denmark, Switzerland, Germany, Netherlands, Germany, Austria, and Sweden have or have recently had negative interest rates. On top of that some corporate....