JPMorgan says inflation concerns, not ETFs, driving Bitcoin price jump
JPMorgan strategists say that interest in the newly launching BITO Bitcoin ETF could cool after a week or so. Go to Source Powered by WPeMatico
Inflation
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Billionaire investor Carl Icahn thinks Bitcoin may be the best hedge for inflation
His comments were in line with Federal Reserve Chairman Jerome Powell, who mentioned that inflation was rising along with supply issues. Go to Source Powered by WPeMatico
‘Thank God for Bitcoin,’ Cynthia Lummis says on US debt limit raise
Bitcoin should be there to allow people to save in the event of governments fail, Senator Cynthia Lummis said. Go to Source Powered by WPeMatico
CME Bitcoin futures open interest hits 8-month high, greater than when BTC price was at $65K
Open Interest surged to $3.22 billion Thursday to levels not seen since February. Go to Source Powered by WPeMatico
St. Louis Fed’s James Bullard Would ‘Support Starting the Taper in November’ to React to Inflation
St. Louis Federal Reserve president James Bullard told the press on Tuesday that he thinks the U.S. central bank needs to wind down the buying of $80 billion worth of monthly bond purchases. Bullard says he would support tapering starting as early as November, in order to “react to possible upside risks to inflation next … Read more
US Inflation Expectations Highest Since 2013, Gas Prices Skyrocket, Supply Chains Buckle
Americans are still concerned about dealing with inflation, as the cost of goods and services has continued to rise significantly in a short period of time. The Federal Reserve has published the latest Survey of Consumer Expectations report and U.S. households believe inflation will be up 5.3% one year from now. In addition to the … Read more
Bitcoin price is correcting, but what does futures data show?
BTC price rejected near $58,000 but derivatives data shows traders positioned in a neutral-to-bullish, leaving sufficient “room” for a new all-time high in 2021. Go to Source Powered by WPeMatico
5 Countries Will Accept Bitcoin as Legal Tender by End of Next Year, Says Bitmex CEO
By the end of next year, at least five countries will have accepted bitcoin as legal tender, the CEO of cryptocurrency exchange Bitmex has predicted. He cited three key reasons why he arrived at this conclusion. “Developing countries will jump into crypto in 2022,” he said. More Countries Will Adopt Bitcoin as Legal Tender The … Read more
Institutions buying Bitcoin rather than gold as inflation cranks up: JPMorgan
According to JPMorgan this week’s rally has been driven by institutional investors hedging against inflation with Bitcoin. Go to Source Powered by WPeMatico
Gold Spikes on US Debt Fears — Finance Portal Disowns End-of-Year Gold Price Prediction
While the price of bitcoin has surged during the first few days of October, the price of the precious metal gold has also increased percentage-wise as the U.S. dollar and the country’s 10-year Treasury yields slid in value this past week. An ounce of fine gold exchanged hands this weekend for $1,760 per unit, up … Read more