Connect with us
CLOSE

Bitcoin News

The Fed Printed More Money Than Bitcoin’s Entire Market Cap

Published

on

the fed

The latest Bitcoin news show that Bitcoin proponents are voicing fresh alarm after the United States Federal Reserve, known as The Fed, printed more than the entire BTC market cap in new money this month.

As noted by the cryptocurrency social media pundit Dennis Parker on October 21, the Fed managed to inject around $210 billion into the economy since mid-September. All of this was part of the newly revitalized quantitative easing (QE) strategy and a move that dwarfs the total market cap of Bitcoin which is now at $148 billion.

Currently, QE refers to the buying up of government bonds in order to provide a good economic stimulus. The Fed has a balance sheet which recently saw a spike, as Parker noted. From what we can see now, the balance sheet jumped from $3.77 trillion last month to $3.97 trillion. It had previously been higher, while the Fed and its own projections call for a balance sheet worth $4.7 trillion by 2025.

For holders of assets which cannot have their supply inflated including gold and Bitcoin, money printing has continuously sparked calls to decrease the reliance on fiat currency.

Parker and his suggestion that investors should buy more Bitcoin comes amid warnings from even the fiat establishment itself about the potential ailing health of the banking system. In an official speech at the International Monetary Fund and its general meeting last week, the former Bank of England governor Mervyn King told attendees that the world was “sleepwalking” into a financial crisis that is even worse than the one of 2008.

“By sticking to the new orthodoxy of monetary policy and pretending that we have made the banking system safe, we are sleepwalking towards that crisis,” he said in the crypto news today.

The concept that interventionist economic practices on the part of governments and central banks leads to financial destruction – and forms one of the central tenets of the Saifedean Ammous “The Bitcoin Standard.”

The book, which was released in March 2018, focuses on Bitcoin as it compares to fiat currency and commodities including gold. As we noted, the Fed and its increase comes in not so good times for Bitcoin. At ten years old, the most dominant cryptocurrency has now lasted 40% of the average fiat currency’s lifespan.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Continue Reading
Comments

Bitcoin News

Crazy Analysis Puts BTC At $400,000 By 2021 Based On One Pattern

Published

on

By

crazy analysis
The Bitcoin Performance Since Difficulty Bottom chart is an indicator that shows the formation of a cup pattern that is peaking in spring 2021. This crazy analysis is what lets one analyst predict that Bitcoin (BTC) can top a price of $400,000 by then. We are talking about PlanB and his latest tweet which is all over the latest cryptocurrencies news and shows the pattern. https://twitter.com/100trillionUSD/status/1229828709097594881 The performance since the difficulty bottom chart indicates that following the weekend dip, business is resumed with Bitcoin back above $10,000 and most of the altcoins posting green today. This crazy analysis also clears the bearish sentiment and in some places replaces it with bullish one (Chainlink and Tezos are a good example for gains). With this, we can say that bullish sentiment has once again returned and hodlers continue to dream of what might be good for the Bitcoin price in the near future. Right on cue, the analyst with a handle @100trillionUSD also know as @PlanB tweeted the chart which is based on a ratio of current price over bottom price $3,700 in December 2018) against time and represented by the mining difficulty. As such, the Bitcoin latest news show that there will be four distinct cycles, each beginning with low mining difficulty that corresponds with a low ratio of current price versus bottom price. In each case, this ratio increases in line with the mining difficulty until it peaks at around 120,000 to 140,000 blocks. The current mining difficulty is at 80,000 blocks and based on the previous three cycles, there is some room for it to grow up until the cup ceiling. The crazy analysis by PlanB has been commented by many other analysts. However, PlanB also replied to a lot of people and one of his most interesting replies was the following that said:
The Bitcoin halving is bigger than you know. The daily global #Bitcoin  demand will be higher than the daily release of #BTC; this was not the case in 2012 or 2016. When the daily supply can’t fulfill the daily demand, we know what happens. We’re in new territory #Crypto kids.”
https://twitter.com/XRPjedi/status/1229864118946951168?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1229864118946951168&ref_url=https%3A%2F%2Fwww.newsbtc.com%2F2020%2F02%2F19%2Fanalyst-prices-bitcoin-at-400k-by-next-year-based-on-miner-capitulation-pattern%2F All in all, past performance is never a guarantee of future results which is why we advise all traders to take this analysis lightly and only see it as a potential target for the most dominant cryptocurrency.
`
Continue Reading

Bitcoin News

Where And How To Spend BTC In 2020: The Ultimate List

Published

on

By

where and how to spend btc
If you are following the Bitcoin news now, you probably know that the price of the most dominant coin is again in the highs of above $10,000 and it is very stable moving forward. This gives a push in the back for many traders and urges them to learn where and how to spend their BTC in 2020 now that it has a greater value. Whether you are a fan of HODLing (holding your BTC and not spending it) or want to spend crypto online, you should know that there are many places to spend it and that you can truly live like a king. Below, we are presenting you the answers to your questions on where and how to spend BTC. SHOPPING
  • Purse.io - A great place for whatever you need whether it's fancy or cute
  • SpendaBit - For many, the easiest and most intuitive way to buy anything you are looking for with BTC
  • Newegg - Once you land on this website, you will see where and how to spend BTC buying things you need (gadgets and tech)
  • Rakuten - If you want to spend BTC but cannot shop on Amazon, Rakuten has got you covered.
BETTING
  • SportsBet - A global sports betting place that accepts Bitcoin and gives you options to bet on.
  • BetOnline - One of the leading sports betting sites.
  • Betcoin - If you don't know where and how to spend BTC on betting, this should be one of your destinations.
  • FortuneJack - From dice to casino and live casino, there are tons of options here as well.
TRAVEL
  • TravelbyBit - If travel is your thing and you want to spend crypto, you can use this website and buy tickets for blockchain conferences using BTC.
  • CheapBizClass - Where and how to spend BTC on airline tickets? Well, you can fly business class for the same price with this company.
  • Destinia - From hotels to flights and travels, this place gives you the horizon.
  • Bitcoin.travel - A slick and modern site for your standard travel needs
FOOD And LIFE
  • ArrowHead Beef - You can eat steaks, ribs and filet mighnon and pay with Bitcoin for both in-store service and delivery.
  • Undead Coffee - Buying coffee with crypto never looked better
  • Bee Bros - You can buy some of the best honey from the Cache Valley and pay in BTC.
Found a place where you can spend your BTC - or have more to add to this list? Comment in the section below!
`
Continue Reading

Bitcoin News

Bitcoin Retakes The $10,000 Level Again, What Is Next?

Published

on

By

bitcoin retakes
Bitcoin retakes the $10,000 position again fortunately for the bulls since the weekend’s pullback leads to this level. However, the analysts wonder, what could be next for the benchmark cryptocurrency? Let’s try and find out in the following Bitcoin news today. During the Tuesday peak, the price of Bitcoin hit $10,300 but it failed to break past the level when it tested it for the second time. Regardless of the short-term resistance, the analysts have been impressed with the 8.4 percent rally from the $9,500 price level and they were some that thought that Bitcoin will set a new multi-month high in the upcoming weeks. As fast as Bitcoin dropped this weekend, it recovered at the same speed, and the cryptocurrency returned to the $10,100 after the peak of $10,300 which is currently up by more than 6% since the local bottom is $9,500. The recovery came quickly after the short-term sell trend had formed and led some of the investors to fear that a return of the low $9.000 is back and imminent. While it is too early to tell whether or not Bitcoin saw a reversal trend, the number of analysts believe that BTC is unlikely to return to lower lows after this strong spike in price away from the $9,500. The trader Inmortal Technique explained that Bitcoin’s bounce in the $9,500 region was similar to the one of the previous retracement in the ongoing uptrend. BTC followed the path that it took last time during the correction which could mean that it will push towards new highs past $10,500 in the upcoming days, possibly reaching the $11,000 region. From a technical analysis perspective, Bitcoin reached a positive signal during the market update showing a 50-day simple moving average and the 200-day simple moving average crossed. The long term indicators show that the golden cross indicates a bull market on the horizon and is strengthened by high trading volumes. In 2019, Bitcoin rallied by more than 200 percent from the time on the golden cross to the local top and the other golden cross in 2015 which preceded more than 6,000 percent move higher. Bitcoin rallied over the past two weeks but the gold did as well. This precious metal took a hammering for the bigger part of the decade, did pretty well over the past two years as Bitcoin retakes the higher position above it.
`
Continue Reading

Bitcoin News

US Government Auction: $40 Million Worth Of BTC To Be Sold Today

Published

on

By

us government auction
The US Government Auction starts today where more than 4,000 BTC will be auctioned today and the procedure will happen with sealed bids where the bidder that bids the most gets the bitcoins. Let’s read more in the following Bitcoin news today, here at DC Forecasts. All of the bitcoins in the US Government Auction have been forfeited in different federal administrative and civil cases. The US Marshal Service will carry out the sealed bid auction for more than 4041 BTC later today and the amount at current rates reaches less than $40 million. According to the official release, the users that will participate have to deposit to participate in the auction set to $200,000 so the bitcoins will be sold in four different series and will be divided into several blocks. The bidders had to register with the USMS and those who are approved to take part have to use their confirmation from the USMS and all documentation received after the deadline will not be considered. The auction comes at a very convenient timing since Bitcoin’s price charted a new Golden Cross which means that the 50MA crossed above the 200MA which is a known significant bull flag. The last time that this happened, the price of the number one cryptocurrency surged to 165% in about 60 days. This means that the $40 million worth of Bitcoin today could reach up to $106 million in less than two months if the history repeats again. The rules of the auction are very simple. The bidder who offers the highest price will be the one that will receive all BTC. If there is more than one bid at the same rate, the first bid will win. If a default of a winning bidder happens, the next highest bidder will get the BTC. Back in 2014, the popular bitcoin supporter Tim Draper participated in a similar auction where more than 30,000 Bitcoins were sold which were previously seized in the Silk Road bust and he bought them all. It is still unclear how much money he paid for the amount but this stash is now probably worth more than $290 million.
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below





NEWS CATEGORIES

ADVERTISEMENT

cryptocurrency review
FO5F93F47156 - The Fed Printed More Money Than Bitcoin's Entire Market Cap

ADVERTISEMENT

Medium Rectangle 300 200 2 Animated - The Fed Printed More Money Than Bitcoin's Entire Market Cap

ADVERTISEMENT

oasistrade banner

ADVERTISEMENT

300 250 - The Fed Printed More Money Than Bitcoin's Entire Market Cap
FO710FC3F2305 1 - The Fed Printed More Money Than Bitcoin's Entire Market Cap

ADVERTISEMENT

300 600 3 - The Fed Printed More Money Than Bitcoin's Entire Market Cap

Trending Worldwide