The year-long calls for a $100,000 Bitcoin (BTC) price have fallen to the wayside since the asset struck a new all-time high at $69,000, but traders are not completely dismayed. At the moment, most analysts view the current price range as an optimal accumulation zone. For the past week, markets had been a bit rocky as investors across the globe grew increasingly nervous about today's Federal Open Market Committee meeting, but today's confirmation that the Federal Reserve would enact 3 rate hikes and gradual tapering in 2022 appears to have been priced in to last week's market volatility. Data from …

Bitcoin (BTC) has been struggling to sustain the $47,500 support since the Dec. 4 crash, a movement that wiped out over $840 million in leveraged long futures contracts. The downside move came after the emergence of the Omicron variant of the Coronavirus and recent data showing U.S. inflation hitting a 40-year high. While newcomers might have been scared by the 26% price correction over the past month, whales and avid investors like MicroStrategy added to their positions. On Dec. 9, MicroStrategy announced that they had acquired 1,434 Bitcoin, which increased their stake to 122,478 BTC. According to some analysts, the …

Ethereum's native token Ether (ETH) reached an all-time high around $4,867 earlier in November, only to plunge by nearly 20% a month later on rising profit-taking sentiment. And now, as the ETH price holds $4,000 as a key support level, risks of further selloffs are emerging in the form of multiple technical and fundamental indicators. ETH price rising wedge First, Ether appears to have been breaking out of "rising wedge," a bearish reversal pattern that emerges when the price trends upward inside a range defined by two ascending — but converging — trendlines. Simply put, as the Ether price nears …

Growing inflation has become a mounting concern for nations around the world, especially the United States. The U.S. has seen one of the sharpest rises in consumer inflation over the past year. Lawmakers around the globe have claimed that they didn’t see the inflation coming, but people often draw their attention towards the seeming unrestricted money printing spree throughout the pandemic. The U.S. has printed 35% of the total U.S. dollar in circulation in 2021 alone which has played a key factor in record-breaking inflation. Market pundits expect a 6% rise in the consumer price index (CPI) in November, which …

Last month, Cointelegraph interviewed Reserve CEO Nevin Freeman and the payment decentralized application’s community manager Yens Michiels about the company’s mission to provide access to stable currencies. More recently, Cointelegraph spoke to a couple of users based out of Venezuela and Colombia who shared their positive experiences with Reserve. Reserve is a tool to exchange fiat currency like Venezuelan bolivares for U.S. dollars via the Reserve (RSV) stablecoin. From everyday purchases to family remittances, Reserve has said that its use cases are increasingly growing in Latin America. After one year on the market in Venezuela, Colombia, Panama and Argentina, there …

On Thursday, Frax Finance, a developer of algorithmic stablecoins, announced it would launch the Frax Price Index, or FPI, on the Partisia blockchain. The benchmark would have its stablecoin pegged to it and serve as a competitor to the standard Consumer Price Index, or CPI. Although the latter is a near-universally adopted inflation gauge, skeptics have claimed that its methodology does not account for items such as housing prices, college tuition, healthcare, etc. All of which have risen significantly in the past decade in the United States. Brian Gallagher, co-Founder at Partisia Blockchain, elaborated on the development: Together with Partisia …

Australian university researchers have questioned Bitcoin’s reputation as the best store of value network in cryptocurrency, with Ethereum on track “to becoming the world’s first deflationary currency.” A Nov. 18 paper by four Australian researchers discusses how the EIP-1559 upgrade makes ETH a potentially better store of value. The research comes was coauthored by Ester Félez-Viñas from the University of Technology Sydney, Sean Foley from Macquarie University, Jonathan Karlsen from the University of Western Australia, and Jiri Svec from the University of Sydney. Ethereum's EIP-1559 upgrade in August saw the network burn a portion of transaction fees and more than …

Global financial market took a hit on Nov. 30 after comments from U.S. Federal Reserve Chair Jerome Powell hinted that inflation and the Omicron Covid-19 variant are growing threats and that the bank's easy money policies could end sooner than anticipated. Prior to Powell's comments, Bitcoin (BTC) had been on the rise and the digital asset had rallied 6% from a low of $55,840 in the early trading hours on Nov. 30 to an intraday high at $59,200, but the price was hammered back below $57,000 after the Fed's remarks. At the time of writing, Bitcoin has managed to climb …

After many months without travel, the 20-month COVID-19 travel ban was finally lifted to the United States, affecting all non-U.S. citizens from over 30 countries. With countries slowly reopening, travel has once again become top of mind to the world, with expectations that more and more countries will begin loosening their restrictions in response to the actions of the U.S. Unfortunately, with a rising number of people looking to travel again, prices are following closely behind. Gas prices, airfare and hotels are all reaching new heights as travelers and vacationers try to snatch up whatever is available. Unfortunately, for many, …

Almost half of retail investors in Russia believe that cryptocurrencies like Bitcoin (BTC) are a hedging asset associated with stable income, according to a new survey. Financial publication Investing.com has polled 1,000 Russian retail investors to find out the most requested types of alternative investments. According to a survey of 1,000 Russian retail investors by Investing.com, as many as 46% of respondents viewed cryptocurrencies as a potential defensive asset allowing them to hedge against financial risks at times of an economic crisis. Russian retail investors favored crypto more than real estate as just 37% of respondents investing in alternative assets …

In a Twitter post published Wednesday, blockchain research firm CryptoRank revealed that over 1 million Ether (ETH) worth $4.24 billion had been burned since the introduction of the EIP-1559 protocol in August as part of the London hard fork. The EIP-1559 protocol reformed the Ethereum fee market, modifying the limit for gas fees and introducing a burn feature that takes a portion of transaction fees on the blockchain out of circulation, to be canceled permanently. Notable decentralized applications responsible for token burn contributions include popular nonfungible tokens, or NFTs, platform OpenSea.io and play-to-earn NFTs game Axie Infinity. Next, transaction volume …

The CEO of Ripple, the company behind the XRP cryptocurrency, is not a fan of the meme-based digital currency Dogecoin (DOGE). Brad Garlinghouse believes that DOGE is not good for the cryptocurrency market due to its alleged “inflationary dynamics” and unlimited supply. The global inflation is driving Bitcoin (BTC) price higher, but has a warning for Dogecoin fans, Garlinghouse argued at a CNBC-moderated panel at the Fintech Abu Dhabi event on Tuesday. “I'm actually not convinced, somewhat controversially I guess, that Dogecoin is good for the crypto market. Dogecoin has some inflationary dynamics itself that would make me reluctant to …