The Turkish lira lost 15% of its value and dipped close to its all-time low after Turkey's President Erdogan fired central bank governor Naci Agbal. This resulted in a massive spike in Bitcoin (BTC) searches in Turkey as investors sought to protect their wealth from devaluation. This is just another example that shows how investors may be treating Bitcoin as a possible substitute for fiat currencies. In other news, United States Federal Reserve chairman Jerome Powell has a different view. While speaking at an event hosted by the Bank for International Settlements, Powell said that Bitcoin is more of a …
Thursday, Feb. 28 — crypto markets continued trading sideways, while the total market capitalization has remained stable around $130 billion after a major sell off on Feb. 24, according to CoinMarketCap. Market visualization from Coin360 Bitcoin (BTC) is trading around $3,865, up around 0.3 percent over the past 24 hours at press time. With that, the biggest crypto has seen some volatility on the day, with its intraday low of $3,787, and the high of $3,906. After the Sunday sell off, Bitcoin is down 2.15 percent over the past seven days. Bitcoin 24-hour price chart. Source: CoinMarketCap The top altcoin …
After staying above $50,000 on Christmas day, Bitcoin (BTC) faced selling pressure on Dec. 26. One of the reasons for the possible dip in Bitcoin’s price is the increase in inflows to the Binance exchange. Data analysis account Material Scientist said that Binance’s inflows could be due to “a new player.” Although Bitcoin is almost certain to miss PlanB’s floor model price projection of $135,000 for December, the creator of the stock-to-flow price model remains bullish. He said that Bitcoin’s price at $51,000 remains within one standard deviation of the model, which keeps the forecast of $135,000 for this halving …
Rounding up the last decade, Ethereum co-founder Vitalik Buterin revisited his predictions made over the years, showcasing a knack for being right about abstract ideas than on-production software development issues. Buterin started the Twitter thread by addressing his article dated Jul. 23, 2013 in which he highlighted Bitcoin's (BTC) key benefits — internationality and censorship resistance. Buterin foresaw Bitcoin’s potential in protecting the citizens’ buying power in countries such as Iran, Argentina, China and Africa. However, Buterin also noticed a rise in stablecoin adoption as he saw Argentinian businesses operating in Tether (USDT). He backed up his decade-old ideas around …
Nonfarm payrolls rose by 315,000 jobs in August, down from the July increase of 526,000 jobs. The report was just below the Dow Jones estimate of 318,000 jobs and the slowest monthly gain since April 2021. The S&P 500 rose in response to the report, but later erased its gains, indicating that bears continue to sell on rallies. That may be because the U.S. dollar index (DXY), which had retreated from its Sept.1 20-year high, recovered part of its losses. The bears will have to pull the DXY lower to boost prices of stocks and the cryptocurrency markets as both …