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A Biden-adminisztráció aggódik a kínai digitális jüan hatásai miatt

Joe Biden elnök adminisztrációját állítólag nyugtalanítja az a hosszú távú hatás, amelyet egy digitális jüan gyakorolhat a dollár státuszára, mint a világ tartalékvalutája. A Bloomberg vasárnapi, meg nem nevezett forrásokra hivatkozó riportja szerint több kormányzati hivatal tisztviselője is igyekszik jobban megérteni, hogy milyen lehetséges fenyegetést jelent a kínai kezdeményezés az amerikai dollár szerepére. Az amerikai Pénzügyminisztérium, a Külügyminisztérium, a Pentagon és a Nemzetbiztonsági Tanács tisztviselői állítólag nem a rövid távú hatások miatt aggódnak, amit a digitális jüan vagy a kínai digitális elektronikus fizetési (DCEP) rendszer okozhat. Az Egyesült Államok globális tartalékvaluta-státuszának hosszú távú kihívásai azonban komoly aggodalomra adnak okot. A jelentés…

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Citi and IADB complete cross-border payment pilot with blockchain tech

IADB disbursed tokenized funds to a recipient in the Dominican Republic using the LACChain blockchain network. Banking giant Citigroup has successfully completed a proof-of-concept for blockchain-based cross-border payments in collaboration with the Inter-American Development Bank, or IADB. According to a Thursday announcement, Citigroup’s Citi Innovation Labs and the IADB enabled several disbursements from the United States to a recipient in the Dominican Republic, using the LACChain blockchain network — a proprietary effort by IADB’s regional program LACChain. As part of the project, the IADB deposited tokenized funds denominated in U.S. dollars in a Citi account and transferred the funds using…

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88 years ago Franklin D. Roosevelt banned gold ownership in the US – will a Bitcoin ban follow?

On April 5, 1933, barely four weeks after taking office, US President Franklin D. Roosevelt signed Executive Order 6102, which “forbids the hoarding of gold coins, gold bars and gold certificates within the continental United States.” Could Bitcoin today suffer the same fate as gold did back then? The decree was a reaction in a whole series of measures of his “New Deal” as a result of the Great Depression, which had ultimately led to the escalation of the financial crisis. A resolution of the US Congress followed later in the same year to support the legislation retrospectively; yet it was Roosevelt’s determined…

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Here’s why April may be the best month yet for Bitcoin price

U.S. dollar weakness is painting a bullish short term outlook for Bitcoin in April. The U.S. dollar is starting to weaken once again as sellers are pushing the U.S. Dollar Index (DXY) downward, which could strengthen the momentum of Bitcoin (BTC) in the near term. Alternative assets like Bitcoin and gold are priced against the dollar. Hence, when the DXY starts to drop, it often causes BTC to rally against the dollar. BTC/USD (orange) vs. DXY (green). Source: TradingviewDollar's share of global reserves is dropping fast According to Holger Zschaepitz, a market analyst at Welt, the U.S. dollar's share of…

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BNY Mellon Report Compares Bitcoin and Gold, Study Says ‘Gold Is the Only Globally Accepted Currency’

The popular safe-haven asset gold recently posted the lowest settlement in three weeks, as a firm dollar and bond market yields have weakened support for the precious metal. The financial goliath BNY Mellon also published a report about the differences between gold and bitcoin and the study said that the crypto asset “fits the description of a nascent currency.” A Firm Dollar and Treasury Yields Takes Some Steam Out of Gold’s Market Performance The U.S. dollar has gained some strength in the last two weeks, and crypto-assets like bitcoin (BTC) have increased in value as well. However, the precious metal…

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The Dollar Regains Lost Ground, But Bitcoin Yet To React

Bitcoin price is once again approaching current record highs, and now that the momentum is back in favor of bulls, new all-time highs could soon be just ahead. While this is mostly nothing new for the leading cryptocurrency by market cap, the recent rally back to local resistance has happened all while the dollar has strengthened significantly. What exactly does this mean for the ongoing cryptocurrency bull market? And why is the dollar suddenly performing so well despite continued debasement?  The Dollar Begins To Rise From Year-Long Bearish Descent Bitcoin price is only a mere $1,000 away from reclaiming $60,000…

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Tether stablecoin is fully backed, says new assurance report

Tether’s reserves for its USDT stablecoin exceed the amount required to redeem the digital asset tokens, according to auditing firm Moore Cayman. Tether Holdings Limited, a company behind the world’s largest stablecoin Tether (USDT), has released an assurance opinion to confirm that Tether tokens are fully backed by its reserves. In a statement shared on Twitter Tuesday, Tether provided the company’s Consolidated Reserves Report, or CRR, accompanied by an assurance report from accounting network Moore Cayman. Signed on March 26, the accountant’s report intends to prove the accuracy of Tether’s CRR compiled on Feb. 28. “In our opinion, the CRR…

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Former OCC Head Brooks Believes BTC Is Stronger Than The Dollar

The former OCC head Brian Brooks in an interview on Squawk Box spoke about the regulatory hurdles for Bitcoin and said that the cryptocurrency is stronger than the US dollar so let’s read more in our latest Bitcoin news today. The former OCC head spoke about the speech of the Federal Reserve Head and stated that people chose to migrate to Bitcoin because of the risk of inflation in the US dollar. Fed Chairman Jerome Powell spoke at the Bank of International Settlement Innovation Summit, claimed that BTC is a good substitute for gold but his statements were contradictory because…

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New York-i sztárbefektető: állami vagyonalapok is érdeklődnek a bitcoin iránt

Robert Gutmann az NYDIG (New York Digital Investment Group) vezérigazgatója szerint terjedjen mostanság bármely szóbeszéd a kormányok bitcoinhoz fűződő viszonyáról és legyen akármennyi ellenzője is, több állami és nemzetközi vagyonalappal vannak tárgyalásban bitcoinnal kapcsolatos befektetések ügyében. Gutmann ezt egy podcast beszélgetés keretei között osztotta meg a hallgatókkal, amelyben a Real Vision alapítójával, Raoul Pal-lal beszélgetett. Pal helyeselt Gutmann mondandójára és megerősítette, hogy neki például biztos tudomása van arról, hogy Szingapúr állami vagyonkezelő alapja, a Temasek már kötött is bitcoin alapú befektetéseket. A Temasek egyébként több mint 306 milliárd dollárnyi vagyont menedzsel. Már korábban is voltak találgatások arról, hogy vajon vannak-e…

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Former OCC official says crypto has backing but dollar ‘may not’

Former OCC acting comptroller Brian Brooks claimed that cryptocurrencies like Bitcoin “actually are backed by something.” Brian Brooks, former acting comptroller of the currency of the United States Office of the Comptroller of the Currency, has claimed that cryptocurrencies like Bitcoin (BTC) have some backing, while the U.S. dollar may not have any. Brooks gave his remarks in a CNBC Squawk Box interview with Joseph Kernen to unpack recent Bitcoin-related remarks by the U.S. Federal Reserve chair Jerome Powell. Earlier this week, Powell argued that cryptos like Bitcoin are “essentially a substitute for gold” but at the same time they…

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The Dollar’s Role In The Bitcoin Bloodbath Explained

Bitcoin is back trading at prices it began the month at, wiping out most of the current monthly candle. Ahead of a dangerous quarterly close, and amidst several bearish signals in the top cryptocurrency, the dollar is currently regaining strength and is a large factor in the recent market-wide selloff. Here’s a closer look at how the dollar is impacting Bitcoin’s bull run, and why this actually could be the end of the current cycle if history repeats. Is A Dangerous Dollar DXY Fractal Predicting Doom For Crypto? Bitcoin price is currently on thin ice for the first time since…

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What Trump’s Coronavirus Detection Could Mean for Bitcoin

Bitcoin was among the only safe-haven assets that didn’t surge following the latest Donald Trump news. The benchmark cryptocurrency stared at losses over the previous 24 hours, falling 3.52 percent to $10,489 as of 0800 UTC. Its latest decline came after the US authorities filed criminal charges against the owners of BitMEX, one of the leading crypto derivative platforms by volume. BitMEX XBT/USD open interest down nearly 20% pic.twitter.com/HywWAt49HI — Unfolded (@cryptounfolded) October 2, 2020 Bitcoin’s downside move accelerated in part after Mr. Trump revealed that he and his wife Melania were tested positive for coronavirus. The global market responded…

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Fiat inflation has cost Bitcoin hodlers 20% over the past decade

Since 2010, inflation has turned $1 into 84 cents while $1 invested in Bitcoin would be worth $274,000. Bad news — the increase in the Bitcoin (BTC) price over the past decade may have been overstated because of the accompanying fiat inflation. Since Bitcoin is typically denominated in fiat — United States dollars usually — it is not immune to its depreciation. Bitcoin price versus Bitcoin price adjusted for inflation. Source: Cointelegraph.In the decade that followed the economic crisis, the U.S. enjoyed some of the lowest inflation in history, which hovered around 2% annually. However, over the decade, this added…

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3 Reasons Why Bitcoin Price Could Fall in Q4/2020

2020 has been a rollercoaster year for Bitcoin. The lockdowns caused by the coronavirus pandemic earlier in the year pushed the crypto lower by almost 60 percent. Its crash shortly followed an equally aggressive rebound that took its price up by 220 percent. It is safe to say that Bitcoin is sitting in a profitable position so far into the year. The cryptocurrency’s year-to-date performance at 50 percent above zero stands taller than the one logged by traditional markets, including the US benchmark S&P 500 index. But entering the fourth and final quarter of 2020, the Bitcoin market struggles with…

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A “Flash Crash” Scenario Looms Over Bitcoin; Here’s Why

Bitcoin may undergo a significant price correction before the US presidential election due to its proximity to gold, hints Clem Chambers. The CEO of ADVFN – Europe’s leading stocks and shares website, told Kitco News that most assets that have shown a positive correlation during the 2020 bull run tend to fall in tandem. He spoke about gold and how a “flash crash” in its markets could leave other assets in a similar bearish spell. “I got a warning from the market about ten days ago…so I cleared the decks because I think it’s highly likely, not absolutely certain, but…

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Bitcoin Decouples from Gold, Stocks after Overnight Sell-Off, What’s Next?

Bitcoin did its own thing during the late Monday trading session. The benchmark cryptocurrency plunged suddenly towards $10,600 after maintaining intraday gains above the $10,800-support all day. The sell-off appeared despite a healthier macroeconomic outlook led by signs of progress in the release of the second COVID-19 stimulus package. US House Democrats released a $2.2 trillion aid that would reinstate $600 weekly unemployment benefits. The revelation followed House Speaker Nancy Pelosi’s commitment to revive stalled negotiations with the White House over the size of the coronavirus stimulus. Breakaway Move Pelosi spoke with US Treasury Secretary Steven Mnuchin on Monday –…

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Bitcoin price may surge as fear and uncertainty strain global markets

Despite Bitcoin’s online sentiment being at a two-year low, analytics say that BTC may be on the verge of a breakout. The global economy doesn’t seem to be in a good place right now, especially with countries such as the United Kingdom, France and Spain imposing fresh, new restrictions across their borders, thereby making the future financial prospects of many local business owners even bleaker. As far as the crypto economy goes, on Sept. 21, Bitcoin (BTC) dropped by nearly 6.5% to the $10,300 mark after having stayed put around $11,000 for a few weeks. However, what is interesting to…

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Bitcoin Analyst Alerts of Looming ‘Bear Cross’ as Price Jumps Higher

Even as the bitcoin price jumps against favorable macro fundamentals, a chartist sees the cryptocurrency moving downwards in the coming sessions. The pseudonymous analyst pitched a highly bearish scenario for BTC/USD on Monday. He envisioned that the pair’s 50-day moving average would close below its 100-day moving average, leading to the formation of a so-called “Bear Cross” – also known as ‘Death Cross’ among financial pundits. The ‘Bear Cross’ setup, as presented by Bitcoin analyst Big Chonis Trading. Source: TradingView.com Traders typically perceive Death Crosses as a sign of a significant selloff. Ideally, they watch the 50-period and 200-period MAs…

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Bitcoin May Break Below $9K on Wall Street Correlation: Stock Analyst

Any attempts from Bitcoin to secure higher price levels may fall short as long as its correlation with the US stocks sustains. So predicts Ronnie Moas, a stock market analyst heading Florida-based research firm Standpoint Research. He said in an early Thursday tweet that Bitcoin might fall by another $400 (or more) in the coming sessions. The expected downside move should come if the Wall Street indexes correct lower by 10-20 percent. “Bitcoin has been tracking the USA stock market very closely during the recent collapse,” explained Mr. Moas. “If this correlation continues, you may very well see a break…

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Bitcoin is Eerily Copying Gold Trends; Analyst Fears Breakdown

Bitcoin is laggingly tailing the gold chart trends, and it may face trouble for its delayed correlation. That is due to the precious metal’s latest breakdown move, wherein the price broke out of a Symmetrical Triangle pattern to the downside. Incidentally, Bitcoin is now consolidating inside a similar technical structure, and one analyst predicts it would break bearish just like gold. “Since the COVID Crash of March 2020, it is apparent that gold has been leading Bitcoin,” the TradingView.com contributor wrote in his analysis, placing their performance against each other to prove the correlation theory. Bitcoin-Gold trend comparison since March…

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