In brief
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$83,109.00
1.08%$1,833.63
-0.31%$2.16
4.57%$605.83
0.91%$125.21
0.25%$0.99989
-0.00%$0.169688
0.19%$0.676215
1.86%$0.230541
-0.96%$1,832.71
-0.40%$82,901.00
0.97%$3.81
4.01%$9.67
-0.21%$13.72
0.91%$0.269403
1.89%$19.38
-1.89%$2,193.10
-0.40%$0.999936
0.02%$2.37
3.32%$0.00001263
-0.09%$0.171585
1.51%$85.97
0.56%$6.36
1.26%$4.10
0.75%$306.77
1.84%$4.65
1.44%$1,833.23
-0.34%$1.00
0.06%$0.770274
-2.91%$1.00
0.02%$12.59
1.36%$1,949.02
-0.25%$28.27
-0.50%$215.72
0.33%$5.98
-0.74%$2.72
4.74%$5.31
-0.38%$0.00000706
-3.35%$1.045
0.00%$48.75
1.22%$0.105777
6.49%$34.81
-3.49%$22.46
1.42%$0.808991
0.57%$83,089.00
1.11%$5.41
0.84%$0.998856
-0.08%$0.803339
2.28%$16.71
0.33%$165.21
-4.87%$1.16
0.10%$10.15
2.23%$0.02305834
0.70%$229.12
2.94%$0.368057
-0.45%$1.00
0.00%$4.33
-1.65%$3.30
2.02%$3.57
0.65%$2.77
0.52%$0.204988
1.74%$83,063.00
1.36%$4.02
0.08%$0.065353
2.81%$0.184118
-0.02%$0.491631
0.17%$0.334536
0.81%$5.27
0.38%$11.08
-0.43%$0.484822
4.50%$82,952.00
1.15%$0.477679
-0.35%$0.759078
-2.69%$1,906.50
-0.34%$1,832.49
-0.32%$0.45079
-1.02%$1,296.74
-4.17%$1.083
-0.38%$0.067042
-2.08%$130.29
0.10%$70.23
2.86%$17.52
1.06%$0.55721
-0.92%$0.999736
-0.03%$0.791741
1.09%$0.624022
-0.24%$2,072.94
-0.53%$0.997686
0.02%$0.00001141
0.71%$0.581826
5.31%$0.179427
0.24%$8.96
2.04%$0.090355
0.22%$0.835792
-2.02%$0.01336324
4.06%$0.999863
-0.01%$0.999929
-0.11%$7.51
-2.13%$0.999219
-0.04%$82,240.00
0.73%$0.868756
-1.04%$3,104.24
-0.32%$1.00
-0.05%$605.49
0.84%$1,945.66
-0.55%$0.01569971
1.46%$0.657679
0.77%$2.19
3.76%$3,126.70
0.69%$0.274474
1.18%$82,939.00
0.88%$0.00000068
-0.50%$0.174519
0.60%$32.20
0.82%$0.997956
-0.17%$0.470806
-0.66%$0.103964
0.89%$0.385589
1.55%$159.95
0.17%$2.01
3.87%$3.22
4.93%$36.20
2.12%$0.0000589
-0.22%$1,910.58
-0.38%$7.55
-2.39%$0.01115286
2.32%$0.149168
3.38%$16.05
0.86%$136.93
0.07%$0.999526
-0.04%$0.07597
-0.58%$0.407101
-2.31%$1.75
1.42%$0.998074
-0.00%$0.649425
-0.11%$1.77
3.71%$1.001
0.06%$82,099.00
2.62%$0.474339
20.01%$2.96
0.77%$0.0051228
7.34%$1.00
-0.01%$0.248001
1.18%$0.425514
1.20%$16.41
0.37%$27.96
-0.46%$6.42
1.41%$0.712005
0.73%$1,945.30
-0.37%$0.437174
0.85%$0.169516
0.28%$6.53
-0.14%$0.00000043
-1.13%$82,934.00
1.08%$0.420982
3.25%$0.450107
-0.33%$1,833.64
-0.27%$83,193.00
0.62%$0.151467
1.09%$2.53
-0.17%$0.080879
0.82%$1.001
0.24%$1.08
-0.11%$0.620333
2.52%$0.04244046
1.78%$1,833.33
-0.39%$0.00002013
1.64%$1.13
1.55%$1,832.72
-0.28%$0.00748938
2.46%$110.49
0.00%$1.10
-0.88%$0.478357
0.38%$0.475538
-1.19%$0.00591422
0.80%$1,912.42
-0.42%$82,751.00
0.87%$0.00651906
1.23%$0.20535
1.63%$0.87179
1.79%$0.3767
2.61%$39.16
-1.84%$0.999317
0.03%$1.00
0.12%$0.01045603
15.76%$0.999079
0.21%$0.170837
4.41%$82,430.00
0.96%$0.0039426
-2.37%$1,840.55
-0.00%$0.00006017
1.62%$1,824.76
-1.98%$1.003
0.24%$0.00000158
-5.59%$0.00052404
-11.85%$2.82
7.74%$120.21
-0.33%$0.03094965
-1.28%$0.0306751
-0.72%$1.22
1.16%$0.246248
0.39%$1.43
1.54%$1.26
-4.28%$0.252382
1.69%$0.528744
-1.82%$1,816.58
-0.44%$3.68
-3.83%$0.653756
0.36%$1,833.30
-0.31%$2.86
0.81%$82,832.00
2.18%$82,962.00
1.13%$21.82
1.60%$0.193202
1.01%$0.781076
-0.39%$0.26126
1.65%$16.05
0.55%$2,005.64
-0.30%$1,938.92
-0.34%$3,083.87
0.02%$1.058
-1.61%$0.499439
4.45%$0.999321
-0.03%$0.03607914
0.10%$0.084402
-2.11%$0.067103
0.53%$0.03089035
0.35%$1,991.29
-0.35%$0.002712
10.29%$0.105983
1.87%$0.00322477
1.69%$0.116375
-0.63%$0.00231049
1.87%$0.521582
3.00%$0.0304046
0.02%$1,829.21
-0.67%$1,667.89
1.06%$0.944277
1.58%$0.00489493
2.27%$0.01134609
0.90%$0.532542
0.70%$20.16
0.39%$0.99884
0.05%$2.19
6.63%$0.649916
-0.16%$2.18
0.52%$0.00242704
2.52%$0.559098
5.62%Reading
The Federal Reserve, the United States’ central bank, said today at the conclusion of its regular Federal Open Market Committee meeting that it would keep its key overnight interest rate near zero and make no change to its monthly bond purchases of at least $120 billion.
In an expected move from the US central bank, Fed Chairman Jerome Powell announced that it would keep its strategy in place at least until there is a bounce back from the COVID-induced recession—but added there was “great uncertainty ahead.”
“The pace of the recovery has moderated in recent months,” he said, adding: “The path ahead remains highly uncertain.” The Fed also said that the coronavirus crisis was weighing on economic activity, employment, and inflation.
Keeping interest rates low makes borrowing cheaper so people can go out, spend, and in turn stimulate the economy.
So what does this mean for the crypto world?
Well, just like previous times the Fed announced it would keep interest rates at zero, we were told that it would be likely investors could turn to alternative assets—like Bitcoin.
This is because interest-bearing investments—like bonds or debt-based financial instruments—aren’t generating interest, and would therefore be less attractive. Moreover, since lower interest rates tend to go together with higher inflation, Bitcoin becomes a hedge against devaluation of the dollar.
Since the Fed announced last September that interest rates would remain near zero, the price of Bitcoin has rocketed—by over 186%—and investors have been eyeing-up assets like gold as a safe haven.
Federal Reserve Chair Jerome Powell said in a webinar today that providing “regulatory answers” for stablecoins is a “high-level focus” for the central bank. The webinar was hosted by Yahoo Finance, and was essentially an interview conducted by the Princeton economist Markus Brunnermeier. “We’ve been very focused… on potential regulatory answers for global stablecoins, in particular,” said Powell in response to a question about CBDCs, or central bank digital currencies. “So that’s been a high-l...
With the US central bank keeping its aggressive monetary policy in place, it looks as if the shift toward alternative assets—including crypto—may well continue.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Black Friday was supposed to be last week. While crypto was on sale the day after Thanksgiving, today is looking even darker for crypto investors. Bitcoin dropped more than 7% in 24 hours, Ethereum deflated by over 8%, and Solana shed 11% of its surging price tag today. In all, the global cryptocurrency market cap fell by nearly 7%. Only two coins in the top 20 managed to stay in the green—Terra, up 4% in 24 hours, and Polygon, which boosted its price by 2%. It's not just crypto. After a solid s...
It’s the start of a new week, and there’s plenty of good news to go around for investors, traders… and, well, just about everyone: another COVID-19 vaccine is showing signs of being ready for the masses, and the markets are feeling good. Bitcoin is trading for nearly $17,000 per coin, marking another 2020 high, while traditional stock and equities markets are booming. A few hours ago, Moderna Labs announced positive results for a potential coronavirus vaccine, which the company tested on a group...
A crypto venture capital fund has crunched the numbers: crypto projects raised $759 million in the third quarter of this year, almost quadruple that raised in Q2 when the tumult around the coronavirus pandemic was in full swing. Outlier Ventures reported that crypto projects raised $227 million in September through 97 deals, $278 million in August in 24 deals, and $254 million in July with 29 deals. By comparison, in the entire second quarter of this year, Outlier found that crypto firms had ra...