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On January 11, Edmond Seifried, an economist at the Graduate School of the Southwestern Bank Foundation, said that since mid-September, U.S. Treasury yields have been moving higher in one direction, but the sell-off in government bonds has been a bit excessive. He believes that the credibility of the Federal Reserve remains high, especially after the Federal Reserve has actively curbed inflation in the past few years. Seifried believes that this background should help control the cycle of rising prices and rising Treasury yields. He pointed out that yields in the 2010s have been lower than in previous decades, and he believes that this shift is partly due to the Feds introduction of an explicit inflation target of 2% in 2012. He believes that the Feds continued commitment to this goal will help stabilize inflation expectations without significantly raising the benchmark interest rate.The total number of oil rigs in the United States for the week ending January 10 will be released in ten minutes.The total number of oil rigs in the United States for the week ending January 10 will be released in ten minutes.1. Wells Fargo: The Fed is increasingly unlikely to cut rates in March. 2. Citigroup: The Fed is expected to make its next rate cut in May, compared with January. 3. JPMorgan Chase: Given the latest (strong) non-farm payrolls data, the Fed is expected to make its next rate cut in June, compared with March. 4. Bank of America: The rate cut cycle may be over; the basic assumption is that the Fed will keep rates unchanged for a long time, but the risk of the next move is inclined to a rate hike. 5. Goldman Sachs: Reduced the Feds rate cut this year from 75 basis points to 50 basis points; the Fed is expected to cut by 25 basis points in June and December respectively. 6. Morgan Stanley: The non-farm report should reduce the likelihood of a near-term Fed rate cut; due to a more favorable inflation outlook, a rate cut in March is still likely.According to AFP: Brazil gave Meta Platforms (META.O) 72 hours to explain its new fact-checking policy.

Bitcoin Completes Triangle Consolidation

Daniel Rogers

Oct 19, 2022 15:43

 截屏2022-10-19 下午3.34.56.png

 

Bitcoin has gained 1.4% over the past twenty-four hours, trading at $19,550 at the time of publication. The day before, U.S. market indexes advanced significantly, and index futures are extending their gains as European trading begins. A backdrop of thriving stock markets stimulates demand for crypto assets, but overall volatility remains exceptionally muted.

 

Since June, Bitcoin's price variations have formed a triangle with a descending resistance line and a horizontal support at $18,800, and the price is currently moving at the triangle's right angle. Typically, this circumstance is handled by a volatility spike on the way out of the range.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads beginning at 0 pips and commissions of $3.50 every 100k traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

Confirmation of the break of the long-term consolidation should not be sought before the leave of the prior highs above $20,4K or the failure below $18K, with the second scenario having a higher possibility. However, we see that the slump in BTCUSD has lasted about a year, wiping out more than 70 percent of the high price and making long-term investments more attractive.

 

According to CoinShares, crypto fund investments increased marginally last week following a modest outflow the week prior. Inflows of capital totaled $12 million. Investments in Bitcoin climbed by $9 million, while investments in Ethereum declined by $4 million. 7 million dollars more was invested in funds that permit bitcoin shorting. CoinShares reported that investor inflows over the past five weeks had not exceeded 0.05% of assets under control.

History of the news

Bitcoin has the ability to decouple from conventional risk assets. According to LookIntoBitcoin, this may occur if investors realize that governments and fiat currencies pose the greatest threat. On the basis of prior cycles of investor capitulation, the time is currently appropriate for strategic BTC purchases.

 

According to a global poll of asset managers conducted by GlobalData, wealthy investors still desire to invest in digital assets. And because cryptocurrencies represent only 1.4% of their portfolios, they are willing to assume the highest level of risk.

 

The subsidiary of the French investment bank Société Générale has acquired authorisation from local regulators to store, purchase, sell, and trade bitcoins.

 

According to a recent Coincub research, in the third quarter of 2022 Germany surpassed Switzerland, Australia, the United Arab Emirates, and Singapore to become the most favorable country in which to operate a crypto firm. The United States fell from first to seventh rank due to unfavorable taxation laws and a lack of clarity around cryptocurrency legislation.


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