Analysts Sound The Alarm: Fed Rate Cut Hopes May Backfire On Crypto
Market confidence over a possible Federal Reserve rate cut has pushed crypto prices higher in recent days, but analysts warn that the mood could flip quickly. Related Reading: No Crypto In Office? Pennsylvania Lawmakers Push New Ban According to Santiment, social chatter around the words “Fed,” “rate,” and “cut” has hit an 11-month high, a […]
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Bitcoin price could resume its downtrend if the Fed keeps on hiking rates against the prospects of a rising unemployment rate. Bitcoin (BTC) has rebounded by 20% to almost $22,500 since Sep. 7. But bull trap risks are abound in the long run as Elon Musk and Cathie Wood sound an alarm over a potential deflation crisis.Cathie Wood: "Deflation in the pipeline"The Tesla CEO tweeted over the weekend that a major Federal Reserve interest rate hike could increase the possibility of deflation. In other words, Musk suggests that the demand for goods and services will fall in the United States....
Crypto crime in Hong Kong has soared to its highest level ever. In the first half of this year, almost 500 crypto crimes were recorded in the former British colony, with one user losing out to the tune of $16 million. Total losses for the 496 cases came in at HKD$214 million ($27.5 million), making […]
Following the latest meeting of the monetary policy committee, the Central Bank of Nigeria says it has hiked the monetary policy rate to 15.5%. By increasing the key interest rate by 150 basis points, the central bank hopes to “narrow the negative real interest rate gap and rein in inflation.” The rate increase came just days after the naira’s parallel exchange rate against the dollar plunged to a new low. Narrowing the Negative Real Interest Rate Gap According to the Central Bank of Nigeria (CBN), members of the bank’s monetary policy committee (MPC) have....
Based on the latest forecasts from top industry analysts, the crypto market seems to be set for a wild ride over the next few months. Related Reading: US Congress Unites Against AI Deepfake: Watermarking To The Rescue Crypto Volatility To Persist Through Q3 Driven by the expected introduction of spot Bitcoin ETFs, despite the positive […]
A crypto influencer, Alfonso Peccatiello, expressed his thoughts as regards the recent cryptocurrency rally. He stated that the current crypto rally is not a yardstick for investors to raise their hopes too high. This was revealed following the increase in certain digital currencies such as Bitcoin and Ethereum in the last 24 hours. A recent crypto market watch showed a 24-hour price appreciation of Bitcoin of more than 9%. Currently, BTC trades at a price of over $23,000. Meanwhile, Ethereum, the second largest digital currency, has also experienced a rise in its price. Its 24 hours price....