This bearish technical pattern hints at a double digit drop in Bitcoin price
Inflation concerns and the U.S. debt standoff cast a long shadow over Bitcoin’s dwindling bullish prospects. Go to Source Powered by WPeMatico
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‘Smart money’ eyes BTC bull run: 5 things to know in Bitcoin this week
BTC price action may have taken a serious hit last week, but not every class of Bitcoin investor is dashing to the exit. Go to Source Powered by WPeMatico
Bitcoin price hits $28.5K on PCE data as macro ‘accumulation zone’ ends
Bitcoin is up $1,000 on the day as bets on $30,000 hitting soon reappear in advance of the BTC price monthly close. Go to Source Powered by WPeMatico
Gold Prices Expected to Soar in 2023: Experts Predict Record Highs for Precious Metal
Gold is on the rise in 2023 and in the first week of the new year alone, the precious metal has jumped 2.36% against the U.S. dollar. Over the past 65 days, gold has soared 14.55% while silver has skyrocketed 22.31% against the greenback since Nov. 3, 2022. According to the head of metals strategy … Read more
Professor Steve Hanke Says US Economy Was Flat Over the Last Year, but Stresses ‘It’s Going to Hit South’
Amid the chaotic economy, plagued with central bank tinkering, supply chain issues, and red-hot inflation, the professor of applied economics at Johns Hopkins University, Steve Hanke believes a “pretty big recession” will take place in 2023. Speaking in an interview on Oct. 28, Hanke said that he updated the probability of a U.S. recession to … Read more
Fed’s Key Inflation Gauge Jumps 0.5% in September, America’s Rising Costs to ‘Punish’ Democrats
The U.S. central bank’s key inflation gauge, the personal consumption expenditures (PCE) price index, increased by 0.5% in September, according to data released by the U.S. Commerce Department on Oct. 28. Meanwhile, markets expect with near-certainty that the Federal Reserve will codify its fourth consecutive rate hike by 75 basis points (bps) next month. While … Read more
Bitcoin price gains 3.5% as US PCE data supports shrinking inflation
A swift leg-up for BTC price action nonetheless fails to crack the week-long trading range so far. Go to Source Powered by WPeMatico
US Personal Consumption Expenditures Tap Record Highs, Stanford Economist Says Fed Should Increase Rates Above 9%
On July 29, the U.S. Bureau of Economic Analysis reported on America’s personal consumption expenditures (PCE) price index for the month of June, and the figure saw the largest 12-month increase since 1982. On the same day, Stanford University’s senior fellow at the Hoover Institution and professor of economics, John Cochrane, said the Federal Reserve … Read more
As Bitcoin’s Yearly Inflation Rate Dips to 1.77%, BEA Data From May Shows US Inflation Fears Are Legitimate
The U.S. economy is looking stagnant according to data stemming from the Bureau of Economic Analysis, as core personal consumption expenditures (PCE) jumped 3.4% in May from a year prior. The recent PCE spike is the highest year-over-year basis change since 1992 and the statistic is fueling inflation concerns. Amid ‘Never Ending’ Market Rallies, Core … Read more
