Former Goldman Sachs Executive Predicts Parabolic Rally for Crypto Amidst Imminent Crisis
Raoul Pal, a former Goldman Sachs executive, believes that the crypto markets could experience a parabolic surge in the near future. He draws comparisons to the 2015-2016 bull market, which saw the entire space rally by over 700% in a matter of months.
Dollar Hovers at 15-Month Lows As Markets Bet on End of Rate Hike Cycle
The US dollar remained at a 15-month low on Friday due to easing inflation, which has led markets to believe that the Federal Reserve is nearing the end of its rate hike cycle.
St. Louis Federal Reserve President James Bullard to resign in August
According to Watcher guru report, Federal Reserve President, James Bullard, is officially set to resign from his position this August. Indeed, The Federal Reserve Bank of St.Louis announced the decision Bullard made, which will officially go into effect on August 14th.
Bitcoin Holds Steady Above $30,000 as Analysts Remain Optimistic Amidst Decrease in US Inflation Indicator
Bitcoin's value remains above $30,000 despite a slight drop in the US inflation gauge, the Consumer Price Index (CPI), which hit its lowest yearly level in June. The CPI increased by 3% from the previous year, down from 4% a month earlier, with goods and services rising by 0.2% month-over-month.
Mike Novogratz Predicts Significant Bitcoin Gains by End of 2023 Amidst Consolidation Phase and Potential ETF Adoption
Mike Novogratz, a billionaire in the cryptocurrency industry, predicts that Bitcoin will experience significant growth by the end of 2023. Novogratz believes that Bitcoin's current consolidation phase, which is between $28,000 and $32,000, will lead to a substantial increase in value.
Bitcoin Correlation with NASDAQ at Two-Year Low, Indicating Weak Negative Relationship
New data from Kaiko shows that the correlation between Bitcoin and the Nasdaq Composite Index has dropped to less than 1%, which is at a two-year low. This suggests a weak negative relationship between Bitcoin and the NASDAQ, indicating that Bitcoin prices moved in the opposite direction or are unrelated to the NASDAQ Composite Index action.
Bitcoin Rises Above $30,000 as Standard Chartered Predicts $120,000 by 2024
Bitcoin held above US$30,000 in Tuesday morning trading, with Standard Chartered predicting the token will reach US$120,000 by the end of 2024. Other top 10 non-stablecoin cryptocurrencies also moved higher, with Matic token leading the rally.
Wall Street, Cryptos Tumble on Rate Hike Fears
On Thursday, both stock markets and cryptocurrencies experienced significant drops due to concerns over impending rate hikes. The Dow Jones Industrial Average declined by 1.5%, while Bitcoin stumbled to $30,600. These drops were caused by robust labor market data and anticipations of the United States Federal Reserve's monetary tightening.
Litecoin Price Drops as Crypto Market Corrects, Fed Minutes Pressure Riskier Assets
The price of Litecoin has fallen by over 3% to $100.50, in line with the wider cryptocurrency market. The drop comes after the coin rallied by more than 65% to reach a year-to-date high of $116 on July 2, due to excitement around its halving in August and its listing on EDX Markets.
Federal Reserve's FedNow Service Excludes Blockchain Companies from Instant Payment Solution
July 5 (Cointime) - The Federal Reserve's new instant payment solution, FedNow, will allow financial institutions of all sizes in the United States to provide faster payment services, similar to popular payment apps like Venmo and Cash App. The service will remove waiting periods for online payments to clear or checks to process, allowing payers to send funds on the day they are due.
