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The bullish optimism seen earlier in the week was dialed back on Nov. 4 after recent comments from U.S. Federal Reserve Chairman Jerome Powell confirmed that the central bank would soon start to taper its monetary policy of easing and bond buying. These statements appear to have kicked off a series
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“On the other hand, the effects of the largest QE in history may lead to the largest inflation in history, regardless of the Fed attempting to scale back. If this happens, we expect demand, and prices, for bitcoin to rise to new all-time highs,” Joe DiPasquale, CEO of the cryptocurrency
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Bitcoin traded in a choppy price range on Wednesday as traders reacted to the U.S. Federal Reserve’s plans to taper its $120-billion-a-month in bond purchases.The unprecedented amount of buying by the Fed as part of its monetary stimulus plan known as quantitative easing (QE) provided a tailwind for financial assets,
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“Bitcoin bullish sentiment remains at fever-pitch, highlighted by NFT. NYC [the annual non-fungible token event] whipping the financial capital into a frenzy,” Jehan Chu, managing partner at Hong Kong-based Kenetic Capital, told CryptoX in a WhatsApp chat. “[However], if public markets falter on the back of Fed bond purchase tapering,
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Randal Quarles, who also chairs the Financial Stability Board, said he’s not certain how a central bank digital currency could address financial inclusivity concerns. Oct 20, 2021 at 9:14 p.m. UTCUpdated Oct 20, 2021 at 9:25 p.m. UTCFSB Chair Randal Quarles (Lintao Zhang/Getty Images) Original Source
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The cryptocurrency is currently trading marginally lower on the day near $57,300, having earlier touched a five-month high of $58,500. It is up 30% this month, though, buoyed by increased expectations that the U.S. Securities and Exchange Commission will soon approve a futures-based bitcoin exchange-traded fund (ETF). Source
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Bitcoin jumped to a fresh five-month high early Monday, extending the two-week price rally even though Friday’s weak U.S. jobs report failed to dampen expectations for Federal Reserve (Fed) tapering in November. The market also turned a blind eye toward the data showing supposedly bearish positioning by leveraged funds in
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“Powell made it clear we’re right on the edge,” said former Federal Reserve economist Claudia Sahm. A jobs gain of “200,000 or more will push them to ‘further substantial progress,’” a phrase that Powell has used to describe the precondition for tapering. Original Source
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Several U.S. lawmakers have called on Federal Reserve Chairman Jerome Powell to support cryptocurrency innovation. “The Federal Reserve must work to support domestic innovation … Our government should never be in the business of thwarting innovation.” Members of Congress Urge Fed Chair Powell to Support Crypto Innovation Several U.S. Congress members have
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