Bitcoin Reclaims $40,000 as Powell Rubbishes Taper Tantrum Woes
Bitcoin didn’t die—all over again. The flagship cryptocurrency climbed to an intraday peak of $40,127 in the early New York session Thursday, up more than 7 percent. Its upside move followed a massive bearish reversal at the beginning of this week, wherein the price fell from near $42,000 to as low as $31,100 (data from […]
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With its stated mandate goals, the Fed is implicitly telling the market that any taper talk is complete nonsense.
This episode of "Fed Watch" covered the global macroeconomic latest, Fed taper and, of course, Bitcoin.
Bitcoin bulls remain pressured under $50,000 in the week that would shed more light on the Federal Reserve's taper outlook based on non-farm payroll numbers. The heavy selling in the U.S. dollar market at the end of last week assisted Bitcoin (BTC) to climb above $49,000. However, BTC struggled to extend its climb above $50,000, a psychological resistance level, as investors remained cautious about the Federal Reserve's taper timing. Bitcoin corrects after logging its week-to-date high of $49,667. Source: TradingView.comIn detail, the Fed chairman Jerome Powell delivered a mildly dovish....
“Taper” and “volatility” seem to be the words of the month as Bitcoin gets further away from its $69,000 November all-time high. Along with the short-term bearish sentiment in the crypto market, BTC had a pullback on December 13th dripping below $48,000. Some people see more downsides and others rather bid for BTCUSD gains. Investors have derisked as all eyes are on and the current Federal Open Market Committee (FOMC) meeting and the U.S. Federal Reserve tapering of asset purchases, fearing Chairman Jerome Powell will be –too– hawkish. There are many speculations....
A report issued by the Huobi Research Institute, the investigative arm of the Asian exchange, examines the effect that upcoming changes of U.S. Federal Reserve policy could have on the price of cryptocurrencies. The report, titled “Taper Landed: The Turning Point of The Cryptocurrency Market is Coming,” states that due to the upcoming tapering, the continued growth of high-risk assets (including cryptocurrency) could be difficult to maintain.
Huobi Report Examines Fed Taper Effects
Huobi Research’s latest report, titled “Taper Landed: The Turning Point....