As the White House has set out to etch out a U.S. Crypto Policy, the Biden Administration is all set to aim for the same via an executive order to be sent out in February. The executive order will ask for reports from federal agencies. It will be the first of its kind, an initial

The post Fed Readying To Launch The US Crypto Policy? White House Directs Agencies To Prepare Report appeared first on CoinGape.

To think through how bitcoin will replace the U.S. dollar, we must first turn to the dollar’s own journey in leaving a gold standard.

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media,...

After being in the pipeline for quite some time, the U.S Federal Reserve’s white paper on the development of central bank digital currency (CBDC) was finally released on Thursday. The Fed has stated in the paper that while the currency could allow citizens to gain access to easier and more speedy transactions, it could also […]

The Federal Reserve has released its anticipated report on the feasibility of issuing a central bank digital currency (CBDC) in the United States. The Fed says the report serves as the first step to discussing the pros and cons of creating a CBDC with the general public and key stakeholders but notes that it does […]

The post Federal Reserve Drops Report Outlining Pros and Cons of Central Bank Digital Currencies appeared first on The Daily Hodl.

Powell maintains that a CBDC should not be the end of private stablecoins, but private stablecoins will need to do better.

The post Fed chair Powell doubles down on continued survival of private stablecoins — as long as they are better regulated appeared first on The Block.

ETH price has been in a downtrend for 3 months, and derivatives data shows pro traders are almost ready to throw in the towel.

January 21, 2022       /       Unchained Daily       /       Laura Shin Daily Bits ✍️✍️✍️ The Federal Reserve released its long-awaited report on stablecoins. The[...]

The post NFTs Went Mainstream Yesterday appeared first on Unchained Podcast.

Investors in need of a lift Earnings season is off to a rocky start and not only are investors not comforted by what they’re seeing, but it’s also contributing to the unease in the markets. The next week will be huge after an awful start to the year that’s brought inflation and interest rate anxiety, […]

Bitcoin and most major altcoins are close to breaking below critical support levels and traders’ reluctance to buy in the current range could exacerbate the sell-off.

Could stablecoins be undone by a Federal Reserve that takes consumer deposits? Would retail banks be hobbled?

Bitcoin, the top asset in the industry has noted a sharp fall in prices over the last 24 hours. At press time, the king-coin depreciated by almost over 9.7%. Bitcoin dropped its value by almost $7,000 and was exchanging hands at $38,233.95. This marked an almost six-month low for the coin. This price level is the lowest ever since the first week of August last year. Following Bitcoin’s price action, altcoins followed suit as a majority of them were seen trading in the red at the time of writing. The global cryptocurrency market cap was at $1.95 trillion after a considerable fall of about 7.7% over the past day. The global crypto cap hadn’t dipped below the $2.11 Trillion mark in over 3 months now. This major plunge in value across the broader cryptocurrency market had caused roughly $200 Billion to leave the market. Ethereum, which is the second-largest cryptocurrency in regards to market capitalisation also registered a tumble of about 8% in the last 24 hours. Related Reading |TA: Bitcoin Dives Below $40K, Why Bulls Could Struggle In Near Term What Could Have Potentially Caused This Big Dump The bears had taken over the market, however, it isn’t safe to assume that the market would continue with a bearish outlook just yet. This could also be a price correction from which Bitcoin and major altcoins might recover over the upcoming trading sessions. This retracement in Bitcoin’s prices from $43,000 could have happened for a number of reasons. Needless to say, crypto markets are volatile, however, current price movements of the major cryptocurrencies can be tied to a couple of recent developments in the crypto space. This sudden substantial sell-off in prices could have been caused due to stock market weakness after the US Federal Reserve introduced high-interest rates and tapered the stimulus. The Fed hiking the interest rates in the form of tightening the overall monetary policy has, in turn, affected the unregulated market of cryptocurrencies. The cryptocurrency industry has also suffered the pangs of other recent regulatory measures. The most recent one is Russia’s blanket ban which has rocked the global cryptocurrency market. Other regulatory measures which have been set in motion to curb the rapid growth of digital asset has also had negative effects on the prices. Securities and Exchange Commission has signaled at scrutinising cryptocurrency exchanges. Environmental factors have also raised eyebrows of regulatory bodies, European Securities and Markets Authority (ESMA) wishes for the EU to ban the proof-of-work model. All of the above-cited reasons have sent shock waves across the crypto industry causing the fear index to point at 19, a number that corresponds to “Extreme Fear” in the market. Related Reading | TA: Ethereum Nosedives, Indicators Show Signs of Larger Downtrend Bitcoin Price Analysis: Crucial Trading Levels to Watch Out For Bitcoin was priced at $38,233.95 after the coin nosedived close to 9% at press time. The asset flashed a death cross, which is considered to be extremely bearish in nature. The prices were beneath the 20-SMA line, indicating that sellers were responsible for driving the price momentum in the market. Source: BTCUSD on TradingView.com The Relative Strength Index hurtled as it reflected the excessive selling pressure in the market. Currently, Bitcoin’s RSI was hovering beneath the 25-mark which meant that the asset was oversold and undervalued. The support level for the coin stood at $37,982.40 and a push from the bears could make BTC trade at that aforementioned level. The Average Directional Index was near the 50-mark, implying a strengthening of the current price trend in the market. The resistance price level for the coin was $39,829.16. Featured image from The Motley Fool, chart from TradingView.com