Why This Economist Expects Bitcoin to Range Before Seeing a Breakout to $50k
Bitcoin has been caught in the throes of immense volatility as of late, with buyers losing their edge over its price action The cryptocurrency is now, once again, drifting down towards the lower-$30,000 region, which is around where it has been trading throughout the past few weeks Where the entire market trends next will undoubtedly […]
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Here's what we are focusing on this morning in the bitcoin price. In last night’s bitcoin price watch analysis piece, we highlighted a range that was quite a lot wider than those we have looked at across the last few weeks. This was in response to the volatility we saw over the weekend, and the opportunity this afforded us for an intra-range approach, rather than just our standard breakout strategy. Overnight, action didn’t mimic the volatility that we saw on Sunday, and pretty much just trended within the range we had predefined. Admittedly, it was a wide range, so it was optimistic to....
The U.S. Federal Reserve is expected to raise the federal funds rate during its next meeting on Wednesday and JPMorgan economist Michael Feroli believes that rising inflation will push the Fed to increase the rate by 75 basis points (bps). Last week, CME Group data indicated the market priced in a 95% chance that the U.S. will see a 50 bps rate hike this month. Although, while some expect a hawkish Fed, some believe the U.S. central bank may act dovishly if markets get worse.
Global Markets Shudder With Focus Directed at the Fed’s Next Rate Hike — JPMorgan Economist....
The economist and gold bug Peter Schiff usually has a lot to say, and this past week Schiff explained during an interview that he believes the U.S. will face a financial crisis worse than 2008’s ‘Great Recession.’ Schiff explains that the U.S. has a lot more debt than it did back then, and insists America’s economic downturn “is going to be a much bigger crisis when the defaults start.”
Chief Market Strategist at Euro Pacific Asset Management Says the Decline in US Inflation ‘Is Only Temporary’
While Peter Schiff detailed....
A recent sharp pullback move in the US dollar market is insufficient to log a full-fledged upside breakout. So says Stephen Roach, the former chairman of Morgan Stanley Asia. The pro-Bitcoin economist wrote in an op-ed that the US dollar could fall by as much as 35 percent by the end of 2021 due to strengthening foreign currencies, rapid macroeconomic imbalances in the US, and the end of the American hegemony over global reserve assets. […]
Economist and gold bug Peter Schiff has made some dire predictions about cryptocurrency, particularly bitcoin and ether. He explained that “The need to sell bitcoin to pay the bills will only get worse as the recession deepens,” adding that bitcoin is poised to crash to $20K while ether will sink to $1K. Peter Schiff Shares Future Outlook for Bitcoin, Ether, Crypto Gold bug Peter Schiff, the chief economist and lead strategist at Euro Pacific Capital and founder of Schiffgold, has made some dire predictions about bitcoin, ether, and the crypto market in general. He tweeted....