Bitcoin Dips, Recovers As Fed Unleashes Biggest Rate Bump In 28 Years
The Federal Reserve of the United States increased interest rates by 0.75 percent on Thursday, the single biggest increase in three decades. However, the central bank has indicated that additional increases are forthcoming later this year. Bitcoin fluctuated significantly following the Fed’s announcement of a rate hike, which was a desperate attempt to counteract increasing […]
Related News
Following the recent U.S. consumer price index report that indicated inflation in America has reached a 40-year high, many expect the Federal Reserve to hike the benchmark interest rate by 75 to 100 basis points (bps) on July 26. Blackstone’s Private Wealth Solutions expects the Fed to raise the rate by 75 bps and bankrate.com believes a three-quarter rate hike is in the cards as well. All Eyes on the Fed’s Next Move — Market Strategists Predict a 75 to 100 bps Interest Rate Hike Next Week Next week, roughly six days from now, the U.S. central bank will meet once again....
Bitcoin and the rest of the crypto market have been in a festive mood in response to the U.S. Federal Reserve’s interest rate hike, sending both Bitcoin and Ethereum climbing in prices. The Fed’s announcement has sent Bitcoin’s price up by 5%. As of this writing, Bitcoin is trading at $22,837, up 7 percent in the last 24 hours. More so, Ethereum’s price also spiked by 11.6%; hitting $1,550, data from Coingecko show, Thursday. In fact, the entire crypto market is on a positive outlook with the total crypto market cap at $1 trillion. Bitcoin was down the past week with its....
DOGE's bullish pattern has reached its profit target 79 out of a hundred times in its financial history. Dogecoin (DOGE) looks ready to extend its rebound move despite the current crypto bear market.79% chances DOGE will extend its rebound moveDOGE's price appears to have been painting a "bump-and-run-reversal (BARR) bottom" since May 11, a technical pattern that points to extended trend reversals in a bear market. It consists of three successful phases: Lead-In, Bump, and Run.The "Lead-In phase" sees the price consolidating inside a narrow, sideways range, showing an interim bias conflict....
Kucoin chief executive officer Johnny Lyu revealed Wednesday that the exchange recovered 84%, or $235 million, of the $280 million stolen in one of crypto industry’s biggest hacks in September. In a tweet, Lyu said the affected funds have been recovered “via approaches like on-chain tracking, contract upgrade and judicial recovery. As asked by the law enforcements, we will publish all the details once the case is closed.” The Kucoin co-founder stated that the exchange has resumed trading for 176 tokens and the rest will be re-opened before November 22. Hackers made off....
Russian search engine Yandex has started tracking the exchange rate of bitcoin for the US dollar, the euro and the British pound, but oddly enough not the Russian rouble. Yandex is by far the biggest search engine in Russia, with a 60% market share. It also has a big following in several of the countries that are part of the Commonwealth of Independent States. In 2011 Yandex managed to raise $1.3bn in a NASDAQ initial public offering, the biggest IPO since Google went public seven years earlier. The company also operates an e-commerce payment system, dubbed Yandex. Money. As of this week,....