Bitcoin (BTC) delivered classic volatility on Oct. 13 as United States economic data shook markets. Trader sticks by $21,000 target Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it presented some textbook moves to accompany the U.S. Consumer Price Index (CPI) print for September. Coming in at 0.1% above expectations year-on-year, the September figures immediately made themselves felt, with risk assets selling off and the dollar advancing in the face of ongoing inflation pressures. In line with previous CPI events, Bitcoin saw a fakeout to the upside, which vanished in minutes, leading to protracted downside which only bottomed …

Bitcoin (BTC) began Oct. 13 with classic fluctuations around $19,000 as markets prepared for crucial macro data. No sign of upside ahead of key U.S. data Data from Cointelegraph Markets Pro and TradingView showed BTC/USD threatening downside at the time of writing with hours to go until the United States Consumer Price Index (CPI) print for September. Expected at 6.5% year-on-year as per a Bloomberg survey, core inflation was tipped to unsettle risk asset markets by showing a potential reversal of previously falling inflation numbers. CPI itself was expected to decrease modestly to 8.1% from its previous 8.3% year-on-year gains. …

Inflation is a buzzword penetrating the finance world, both traditional and decentralized. International leaders continue to debate whether current circumstances can be deemed a recession. While financial industry experts ponder a solution to the situation. As cryptocurrencies continue to become regulated, adopted and pushed into mainstream view, questions as to whether digital currencies such as Bitcoin (BTC) are the answer. In the past, stablecoins have been used as a solution to protect savings from inflation. This can be seen in countries such as Venezuela, Nigeria and Argentina, where local populations have been fighting major instances of currency devaluation. At the …

Bitcoin (BTC) begins a new week still under $20,000 — one which promises to give traders the excitement they have been looking for. After another very similar weekly close, BTC/USD is still waiting for the breakout from its multi-week trading range. The move has been long in the making, but so far, the market has lacked the catalyst to make it happen — support and resistance zones have remained unchallenged. This week, that might all change — the list of economic data prints due in the coming days is impressive, while geopolitical instability is gathering momentum in Europe as the …

Bitcoin has been projected as many things since its inception in 2009. However, the most talked about aspects have been a fungible form of future money and an inflation hedge. The last Bitcoin (BTC) halving cycle (a block reward halving event that happens approximately every four years) coincided with the raging COVID-19 pandemic, which solidified many people’s belief in the nascent tech as a true hedge against inflation and worldly disorders. One year down the line, however, BTC has lost 75% of its market capitalization and not many would agree with the inflation hedge theory. During the last year’s bull …

On Oct.4 and Oct. 5 Bitcoin (BTC) took another step through the $20,000 mark, bringing the price above a long-term descending trendline that stretches all the way back to Apr. 22, or Nov. 15 depending on one’s style of technical analysis. Some traders might be feeling a bit celebratory now that price trades outside of the descending trendline, but have any relevant metrics or macro factors changed enough to support a bullish point-of-view for Bitcoin price? In reality, BTC price simply “consolidated” its way through the trendline by trading in a sideways manner where price has been range bound between …

How do cryptocurrency investments impact the broader crypto-economy? Although the cryptocurrency market appears to grow in a positive feedback loop, that does not mean that (un)expected events may not impact the trajectory of the ecosystem as a whole. Although blockchain and cryptocurrencies are fundamentally meant as ‘trustless’ technologies, trust remains key there where humans interact with one another. The cryptocurrency market is not only impacted by the broader economy, but it may also generate profound effects by itself. Indeed, the Terra case shows that any entity — were it a single company, a venture capital firm or a project issuing …

Bitcoin (BTC) returned to intraday resistance on Sep. 30 as analysis predicted that $20,000 could break before a new comedown. Crunch time for $20,000 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it circled $19,600 at the time of writing. The pair had seen a bout of more volatile behavior the day prior, briefly losing $19,000 before bid support took the market higher. The day looked to be an important one for bulls, with the monthly close combining with European Consumer Price Index (CPI) data. Geopolitical events involving Russia’s official annexation of Ukrainian territory and associated implications were …

Across all tradeable markets and currencies, U.S. Treasuries — government bonds — have significant influence. In finance, any risk measurement is relative, meaning, if one insures a house, the maximum liability is set in some form of money. Similarly, if a loan is taken from a bank, the creditor has to calculate the odds of the money not being returned and the risk of the amount being devalued by inflation. In a worst-case scenario, let’s imagine what would happen to the costs associated with issuing debt if the U.S. government temporarily suspended payments to specific regions or countries. Currently, there …

This week the $20,000 resistance is proving to be stronger than expected and even after Bitcoin price rejected at this level on Sept. 27, BTC bulls still have reasons to not give up. According to the 4-month-long descending triangle, as long as the $18,500 support holds, Bitcoin price has until late October to determine whether the downtrend will continue. Bitcoin bulls might have been disappointed by the lackluster price performance as BTC has failed multiple times to break above $20,000, but macroeconomic events might trigger a rally sooner than expected. Some analysts point to the United Kingdom's unexpected intervention in …

Michael J. Burry, the financial wizard who was portrayed in the movie "The Big Short", is known for predicting crises. For instance, his investment fund made billions from the 2008 housing crash, and Burry liquidated almost all his entire portfolio during the 2Q of 2022. Given that no one seems to know whether traditional markets will bounce before entering a further recessive environment, it might be a good time to consider investing in cryptocurrencies. Below are some examples on how experienced investors sometimes miss incredible rallies. In May 2017, Burry said people should expect a "global financial meltdown" and World …

On Sept. 26 the British Pound hit a record low against the U.S. dollar following the announcement of tax cuts and further debt increase to curb the impact of a possible economic recession. The volatility simply reflects investors' doubts about the government's capacity to withstand the growing costs of living across the region. The U.S. dollar has been the clear winner as investors seek shelter in the largest global economy, but the British Pound's weakness could be net positive for Bitcoin. The GBP is the world's oldest currency still in use and it has been in continuous use since its …