Financial markets are tuning in closely to the upcoming monetary policy statement from the Federal Reserve or the U.S. central bank, as any interest rate changes could have a strong impact across various asset classes, including bitcoin prices. The FOMC or Federal Open Market Committee had been expected to hike interest rates sometime this year, as the U.S. economy has been able to keep up its steady pace of jobs gains and overall growth. However, recent economic issues stemming from China and the emerging markets could force central bank officials to stand pat. Rate Hike Bad for Bitcoin Prices? Despite that, an actual interest rate hike from 0.25% to 0.50% might still be on the table, possibly spurring a strong rally for the U.S. currency. In effect, this could…
A bitcoin price rally has taken place recently after a brief test of the $200 support level. Some market analysts attribute this to the return in risk appetite, caused mostly by the pickup in commodities and oil prices, but others believe that there have been other factors in play. Bitcoin is typically considered a high-risk investment, along with other riskier holdings such as equities and commodity currencies. Prior to the bitcoin price rally in the past few days, the cryptocurrency had been heavily weighed down by speculations of a sharp downturn in China and the prospect of another global inflation slump. Sustainable Bitcoin Price Gains? In an article on Benzinga, staff writer Deepak Bharadwaz pointed out that Barclays’ recent announcement on accepting…
What Is The Difference Between Bitcoin, FOREX & Gold? ‘A Tripod Theory’ [Revised] Written By: Patrick “PK” McDonnell As Bitcoin and it’s counterparties known as “altcoins” enter the mainstream many investors are seeking information on the mechanics of trading these revolutionary peer-to-peer niche oriented decentralized global cryptocurrencies. Bitcoin, forex and gold have many similar yet distinct differences that make each a unique and viable investment vehicle. Bitcoin is a “hybrid” of both forex and gold structured to trade like a stock with stop loss protections and profit objective orders which help preserve capital and ensure profits through forex like market volatility. Bitcoin like gold is viewed by some as a viable long-term storage of…
There’s no denying that, when it comes to online payments, PayPal is still king these days. However, bitcoin offers several advantages over this online payment method that could eventually allow the cryptocurrency to establish dominance. Is it really possible? Perhaps one big thing going for PayPal is that it hasn’t really been heavily linked to illegal dealings the way bitcoin did with Silk Road. This sets bitcoin back by a number of notches, as the cryptocurrency has to prove its legitimacy and security before gaining mainstream adoption. Competition from Bitcoin But while PayPal has been an established company for quite some time, processing majority of online transactions in the past few years, both PayPal and bitcoin are actually almost on a…
New York has always offered sightseers some wonderful things. Between the Empire State Building, the Statue of Liberty and Broadway, all one has to do is stroll into the “city that doesn’t sleep” in order to have a good time. But New York also has a dark side. A city that was once notorious for crime-ridden dark alleys and filth, New York now offers a whole new form of terror… the BitLicense. Throughout the year, the document has witnessed growing dislike amongst bitcoin businesses and companies that would delve in digital currency. While former Superintendent Benjamin Lawsky and those currently in charge of cryptocurrency-related regulation would likely swear by the BitLicense’s “methods for correction,” others, particularly those in the bitcoin industry, would…
Earlier this year, the Greek debt crisis has highlighted the role of bitcoin in keeping an economy afloat despite capital controls. Several startups offered investments and loans using the cryptocurrency, providing an option for those who had been unable to move funds around when stock markets and banks were shut down in the country. Later on, the Chinese stock market crash also spurred investors to seek alternative forms of investments, as other equity indices all over the globe started to tank as well. Is bitcoin starting to emerge as a safe-haven “exit” currency lately? Bitcoin “Exit” Currency Because of the equity market slump, the Chinese government and central bank have come up with a number of different ways to stem the decline….