Bitcoin quivered but didn’t fold after Jerome Powell signaled higher-for-longer interest rates to fight inflation, a pattern that for brave prognosticators could be a hint of a floor for the digital token. The largest cryptocurrency is down about 6% since Powell’s hawkish Aug. 26 Jackson Hole speech underlined that the Federal Reserve wants to subdue…
The crypto market faced heavy losses on Saturday and Sunday after Jerome Powell, chair of the Federal Reserve (Fed), signalled that they may continue to raise interest rates sharply in the coming months. Crypto market cap fell below the $1 trillion mark after staying above the mark for over a month. “While higher interest rates,…
The crypto world has been abuzz about Ethereum’s upcoming software upgrade. Yet there’s a divide in terms of how to position for the so-called Merge: retail investors have been selling the underlying token, while institutions continue to buy. The trading desk at Genesis saw “some fresh bullish ETH views expressed” with investors buying calls and…
More than half of all Bitcoin daily trading volumes are reportedly fake, as the world’s largest cryptocurrency nosedives again amid global economic turmoil. According to a Forbes analysis of 157 crypto exchanges and trading platforms, more than half (51 per cent) of all reported trading volume is likely to be fake or non-economic. “We estimate…
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After showing some stabilisation in the last few weeks, world’s largest cryptocurrency Bitcoin has plunged once again below $20,000 after Federal Reserve Chair Jerome Powell’s keynote address. Bitcoin initially showed little reaction to Powell’s remarks, but then nosedived sharply and on Sunday, it was hovering around $19,975 per digital coin which is more that 60…
High net individuals (HNIs) can no longer sidestep the rules and regulations to trade in stocks, cryptocurrency and derivatives abroad. With the new rules and regulations, they are now required to be more careful with foreign investments, according to a report by Economic Times (ET). According to the new rules of the Liberalised Remittance System…
An effective tax rate calculator can help you determine how much taxes you will owe on your income. This can be a valuable tool in planning for your financial future. By knowing how much taxes you will owe, you can make informed decisions about how to invest your money and save for retirement. What does…
Ether is outperforming Bitcoin for a third consecutive day amid expectations that the intermittent bouts of optimism over the pending upgrade of the Ethereum blockchain will finally take root. The native currency of the most commercially important blockchain gained as much as 2% to $1,716 as of 10:51 a.m. in New York. Bitcoin was little…
Ethereum, the network behind the second-largest cryptocurrency by market cap (after Bitcoin), will move from a proof-of-work consensus mechanism to a proof-of-stake blockchain next month in a process called “the merge”. That will make Ethereum at least “99 per cent more energy efficient”. The Ethereum Foundation has said that the Merge Blockchain upgrade is scheduled…
