Yesterday was a fascinating and eventful day...
Last week was the first strong negative week in the second half of the year.
Welcome to the Weekender: Your weekly round up of all the top crypto stories, as voted by our reader's clicks. This week, ‘power’ was front and centre of your interest, with the news that nuclear and fossil-fuel based power generator Energy Harbor Corp has partnered with bitcoin mining hosting provider Standard Power, taking the top slot.
Traditional markets feel… toppy? From many angles or data points, a lot of assets are overextended or at high valuations.
Inflation expectations in the US have jumped to 4.8% for the next 12 months. This is hardly surprising given the fed jacked up M1 money supply by 30% in the last year. Consumer debt levels are racing higher, the fed will hope this is due to pent up demand, because the alternative reason (people borrowing money to stay afloat) spells disaster for the predicted recovery.
Yesterday, trading of risk assets was mostly mixed—again.
Bitcoin has fallen nearly 4% today, with the lower end of the trading range facing a fresh test of the bulls' resolve. Trading ranges, and especially Bitcoin trading ranges, stir strange emotions when prices reach the outer edges. The fear of a break out to the downside, or the hope of a rally to a new price point, make the support and resistance levels of ranges far more exciting than when prices are stuck in the middle and everyone is mildly bored.
Yesterday, the traditional market was mixed.
The S&P reached new records while the Dow and the Nasdaq came inches away from beating their all-time highs.
Welcome to the Weekender: Your weekly round-up of the top stories from across the crypto world, as voted by our readers' clicks! This week, the most-clicked article reported that the US financial regulator FinCEN has hired its first-ever chief digital currency advisor.