Bitcoin Traders Should Watch Wider Inflation Metrics, Not Just CPI
Thursday's U.S. CPI release is important, but so are wider inflation metrics that point to a rebound in price pressures.
The possibility of a pickup in inflation means the Fed is likely to stay hawkish for some time. That could bring downside volatility in risky assets, including cryptocurrencies.
The U.S. Securities and Exchange Commission (SEC) has accepted the application for a bitcoin exchange-traded fund (ETF) filed by asset manager Blackrock. The move indicates the regulator is preparing to seriously consider a bitcoin ETF and could eventually set the stage for wider adoption of crypto assets and products.
The last time the cryptocurrency saw a "golden cross" in its monthly 10 and 20 Exponential Moving Average (EMA), it rallied over 720%. With XRP currently trading at $0.48, a similar rally would result in a new all-time high, surpassing the token's previous peak.
A "golden cross" is a bullish signal in technical analysis that occurs when a shorter-term moving average crosses above a longer-term moving average, indicating potential for a significant price increase. In this specific scenario, a golden cross is identified when XRP's 10-month EMA, a measure of its average price over the past 10 months, exceeds its 20-month EMA. This kind of technical indicator often encourages investors to consider a buy position, as it may be a sign that the asset's value could experience a surge.
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bitcoin under magnifying glass
Bitcoin is the name of the best-known cryptocurrency, the one for which blockchain technology, as we currently know it, was created.
dinner at the hotel
Generally, there are 4 types of meals plans practiced all over the world: American Plan (AP), Modified American Plan (MAP), Continental Plan (CP), European Plan (EP). In this article we will break down these types of meal plan in hotel.