Even Steven Mnuchin Couldn’t Crash Bitcoin
BTC/USD finally showed strengthening signs of becoming an independent asset. The cryptocurrency’s lack of responsiveness to Mr. Mnuchin’s anti-economy proved its resilience.
BTC/USD finally showed strengthening signs of becoming an independent asset. The cryptocurrency’s lack of responsiveness to Mr. Mnuchin’s anti-economy proved its resilience.
With a history of firing nasty comments at Bitcoin, the Wall Street mammoth, ranging anywhere from “bubble” to “financial scam,” appeared with candies in its hands this time.
The dilemma was the same at the beginning of July 2020: could or could not Wall Street earnings influence the Bitcoin price trend? Entering October 2020, the market has some clues about it.
A battered final month of the third quarter signaled more pain for Bitcoin, a decentralized cryptocurrency known for hedging global market risks and enabling cheaper and quicker cross-border payments.
Steven Mnuchin was one of the biggest catalysts behind the Bitcoin rebound last week. The US Treasury Secretary, known for having an ill-opinion about the cryptocurrency, sat alongside his knee-shaking buddy, the Federal Reserve Chairman Jerome Powell, before the Senate Banking Committee on Thursday. He testified about the coronavirus’s impact on the US economy and…
For months, the Bitcoin price rose this year – regardless of a fast-spreading pandemic, the resulting economic turmoil, and poor evaluations by the mainstream media houses. Then, in September, the cryptocurrency came crashing down. It was March 2020 all over again, minus severity. Bitcoin established a year-to-date high near $12,500, started correcting lower on profit-securing…
On Sunday, Bitcoin experienced a brief pump-and-dump. The BTC/USD exchange rate was able to break above $10,400, a resistance that capped the pair’s upside outlook for almost two weeks. Bitcoin eventually formed a session top above $10,500 only to find later that the area was full of profit-taking traders. A pullback ensued and the cryptocurrency…
Bitcoin fell below $10,000 this weekend even as a majority of crypto warriors on Twitter were expecting a supersonic price boom towards $13,000, $14,000, $15,000, $20,000, and beyond. That was obvious for most of us. Bitcoin had every ingredient to dish out a delicious bull run. A central bank that committed to raise inflation rates…
The cryptocurrency market is experiencing a deja vu, thanks to DeFi, a backronym for decentralized finance. The performance of every token listed under the said brand name is looking insanely bullish in 2020. It is very similar to how native tokens of a long string of initial coin offering (ICO) projects appeared in 2017. People…
Bitcoin price came in the middle of uncertainty this week as investors waited for Jerome Powell, the Federal Reserve chairman, to deliver his keynote address at this year’s Jackson Hole Symposium, an annual retreat that sees global central bankers breaking bread over high-profile economic table-talks. Mr. Powell’s speech is set to become a benchmark of…