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The Federal Reserve’s massive emergency rate cut caught Wall Street off guard on Tuesday. Jerome Powell confirmed how serious the economic impact of the coronavirus could be in the U.S. There is barely any stimulus left to help negate a stock market crash. While Donald Trump insists everything
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Bitcoin prices slid Tuesday after the U.S. Federal Reserve announced an emergency cut in interest rates to counteract risks to the economy from the spreading coronavirus. The largest cryptocurrency by market value was down 2.2 percent to $8,722 as of 15:28 UTC (10:28 a.m. ET). Prices had surged 4.6 percent on
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It has been a turbulent past few weeks for virtually every major market across the globe, with Coronavirus fears sparking an intense selloff that sent the Dow Jones, Gold, and Bitcoin all reeling lower in tandem.This correlation has shown no signs of slowing down, as the Fed just announced a
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The price of Bitcoin (BTC) made a severe drop in the past week, similar to the heavy dropdown of the equity markets. However, equity markets have been showing strength this week with a strong relief bounce and today’s announcement from the United States Fed of a 50 bps rate
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The U.S. stock market looks set to extend yesterday’s record-breaking recovery. Trump twisted the Fed’s arm, urging Powell to support the economy in the wake of coronavirus panic. But a G7 statement today is expected to stop short of recommending co-ordinated easing attempts. The Dow Jones notched up its
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Coronavirus fatality rate varies between 0.4% and 4% depending on the region. Death rates can spike in areas that are not ready to handle a large number of patients. Coronavirus has started to spread to regions that are yet to be affected, causing heightened fear. The fatality rate of
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Both the S&P 500 and Dow Jones are attempting to rebound after a brutal selloff last week. The Fed is very likely to aggressively cut rates to support the stock markets. The rate cuts may inspire an immediate bounce but the long-term impact of the virus on the economy
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While the stock market craters, Fed funds futures markets now forecast a 96% chance of a Fed rate cut in March. Goldman Sachs expects three rate cuts from March through June. There’s also chatter about an emergency inter-meeting rate cut any day now. But other analysts say the Federal
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When Satoshi Nakamoto invented Bitcoin, the creator designed the protocol to be an inflationary currency, one that is predictable as bitcoin’s inflation
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Bitcoin mining startup Layer1 Technologies has begun operations at its West Texas facility, with an ambitious roadmap to secure 30% of the hash rate.Layer1, which raised $50 million in November from Thiel, Shasta Ventures and Digital Currency Group, said it has now brought multiple 2.5-megawatt liquid-cooled mining containers online.Its
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