bitcoin Bitcoin Opinion Bitcoin Price News federal reserve 

Federal Reserve Blames Altcoins for Dragging Down the Bitcoin Price

The Federal Reserve Bank of St. Louis has released an article today about Bitcoin. In it, the bank notes that the price of Bitcoin has three potential futures: indefinite, infinite appreciation; zero; or somewhere in between. They believe it will be somewhere in between. The authors, David Andolfatto and Andrew Spewak, conclude that one of the factors dragging down the price of Bitcoin is an ever-expanding supply of alternatives. Bitcoin is an inherently speculative and volatile asset. A fixed supply doesn’t mean an ever-increasing value. Demand determines value, after all….

Read More
Bitcoin Economics federal reserve FSB Global Economic Outlook Jerome Powell Lael Brainard 

Bitcoin Does Not Threaten Global Economy According FSB

Bitcoin and other cryptocurrencies do not pose a threat to the world economy, but should be monitored as the market “continues to evolve rapidly.” That’s the assessment of the Financial Stability Board (FSB), an international body that monitors the global economy. The observations were brought to light in a December 28 report by the Reserve Bank of India (RBI), which is India’s central bank. The RBI report noted: The FSB has undertaken a review of the financial stability risks posed by the rapid growth of crypto-assets. Its initial assessment is that crypto-assets do…

Read More
federal reserve Jerome H. Powell President Trump Steve Mnuchin World Politics 

Fed Chairman Has No Plans to Meet Donald Trump

Jerome Powell, Chairman of the Federal Reserve, has said that he would not resign even if President Donald Trump asked. In the past few months, president Trump has repeatedly criticized Powell and the Federal Reserve for continuing with their tightened monetary policy. He went as far as saying in a Fox Business interview that the Fed is the “biggest threat” to the economy. The President has also asked his advisers if he can have Powell fired. Trump hired Powell to succeed Janet Yellen in 2017. The move strayed from the…

Read More
federal reserve mohamed el-erian recession Stock News World Economics 

1000-Point Swings ‘New Reality’ for Dow Jones Index: Allianz Economist El-Erian

Mohamed El-Erian — the chief economic adviser at Allianz SE — says concerns over a US recession are overblown, but we can expect wild fluctuations on the Dow Jones Industrial Average in 2019 because of financial uncertainty in Europe and China. However, El-Erian said the US economy will remain strong and will continue to grow at a robust rate of 2.5% to 3%, while wages will continue to rise 3% or more. “Don’t be surprised if you see these 1,000-point swings in the Dow Jones,” El-Erian told Fox News Sunday on Dec. 30 (video…

Read More
Art Cashin Donald Trump Dow Jones federal reserve Stock News ubs 

UBS Director Blames Trump White House for Dow Jones Sell-Off

Art Cashin, managing director of trading floor operations for investment firm UBS Financial Services, has firmly blamed United States President Donald Trump for the stock market volatility that caused the recent Dow Jones Industrial Average sell-off. Veteran stock market trader Cashin blamed the latest government shutdown and Trump’s attacks on the Federal Reserve for the Dow Jones sell-off, telling CNBC: I think we lost maybe a couple of thousand points that we didn’t need to because of the disruptions that we saw. Cashin told CNBC that “more quiet” from Washington…

Read More
bitcoin Bitcoin Analysis Bitcoin Price News federal reserve 

Price Holding Losses, Eyes Recovery as Dollar Slides

Twitter Facebook LinkedIn The bitcoin price on Friday plunged 0.85 percent against the US dollar, now trading at 5528-fiat. Bitcoin Price Seeks to Claw Back Lost Ground The digital currency has had a shocking week so far, with its value losing almost $1,200 within just five days. Not only bitcoin, but the entire cryptocurrency market also had to “bear” losses worth billions of dollars as a civil crypto war brewed inside the Bitcoin Cash community. It has already led to the split of Bitcoin Cash blockchain. Now, the market expects a…

Read More