Bitcoin price dives pre-FOMC amid warning $17.6K low was not the bottom
The bottom "is not in" for either stocks or crypto, one analyst believes, as alarming data shows copycat moves from 2008 by the S&P 500. Bitcoin (BTC) dropped to weekly lows at the Aug. 17 Wall Street open as upcoming Federal Reserve comments unsettled risk assets.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewDollar climbs as Fed minutes dueData from Cointelegraph Markets Pro and TradingView tracked a more than 2% daily decline in BTC/USD, which hit $23,325 on Bitstamp.Already showing signs of weakness, the pair slid further as United States equities began trading, hours....
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Yesterday’s FOMC meeting of the U.S. Federal Reserve (FED) brought less volatility to the Bitcoin market than many experts had expected. The Bitcoin price moved in a narrow range during and after the meeting. Ultimately, the Fed raised interest rates by 75 basis points, as expected. The FOMC statement said the Fed would “take into […]
After the September FOMC meeting, Bitcoin Magazine Pro recaps the medium-term thesis for bitcoin and how to think about the looming macro volatility.
The Washington State Department of Financial Institutions has issued a new warning to potential buyers of digital currencies such as bitcoin. The advisory, entitled "Beware the Next Big Investment", offers a warning about investing in digital currencies, marijuana-related businesses and binary options. It reads: "Digital currency value fluctuates wildly because it is decentralized and often the subject of 'breaking' news and rumors." The majority of the item focused on the risk of unrealistic investment pitches, including those that seek to intentionally misinform investors. "Since....
A Chinese state-run newspaper has published an article warning about bitcoin’s price falling to zero amid the crypto market sell-off. Meanwhile, financial regulators in Shenzhen have issued a new warning about cryptocurrency. State-Run Newspaper Warns About Bitcoin Becoming Worthless China’s state-run newspaper Economic Daily published an article warning about bitcoin Wednesday, according to SCMP. The nationwide newspaper is directly under the control of the Central Committee of the ruling Chinese Communist Party. The article warned that investors should beware of the risk of....
Bitcoin was tethering above $20,000 for the last week, and its ability to hold above this level through the FOMC announcement had led to speculations that the digital asset had finally hit its bottom. However, recent developments and bitcoin’s fall below $20,000 has proven that this is not the case. Even more, it points to a further decline in the market that could drag the cryptocurrency to even lower lows. Bottom Is Not In Bitcoin is now trading in the $19,000 which has completely destroyed the expectation that the bottom was already marked at $20,000. Despite the digital asset largely....