Search Results for: weaker

Chinese Central Bank Says It Will Prioritize Stabilizing Currency After Yuan Plunges to 14-Year Low Versus USD

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Moments after the Chinese yuan’s onshore exchange rate versus the U.S. dollar slumped to 7.2458 per dollar, the Peoples Bank of China responded by stating that it will prioritize stabilizing the currency. Similar to other currencies that have been depreciating against…

Philippine Central Bank Governor Explains Crypto Policy — ‘I Don’t Want It Banned’

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The governor of the central bank of the Philippines has shared his policy on cryptocurrency regulation. “I don’t want it banned,” he said, advising investors not to invest money they cannot afford to lose in crypto. Philippine Central Bank Governor on…

Bitcoin, Ethereum Technical Analysis: BTC Below $20,000 as Markets React to Increasing Dollar Strength 

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BTC fell below $20,000 on Tuesday, as volatility in financial markets continued to peak, due to current levels of inflation. The euro fell to its lowest level against the U.S. dollar in over twenty years, and this dollar strength seems to…

Bitcoin, Ethereum Technical Analysis: BTC Falls Below $20,000 as U.S. Consumer Confidence Plunges 

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Bitcoin fell below $20,000 during Wednesday’s session, as markets reacted to yesterday’s weaker-than-expected consumer confidence report. The expectation for economic growth also fell to a nine-year low. This resulted in ETH also dropping, with prices hitting a six-day low. Bitcoin The…

MiCA Amendments Proposed Last Minute Revive Threat of EU Ban on Bitcoin, Report Reveals

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Changes to the EU’s MiCA proposal to regulate crypto markets, suggested shortly before a vote on the package, indicate a bitcoin ban is still a possibility. Despite recently removing wording that would have prohibited coins with energy-intensive mining, some members of…

Geopolitical Risk and Ukraine Worries Shake Equities, Cryptocurrencies — Gold Soars Higher

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On Wednesday, global markets have been volatile as Ukraine officials declared a state of emergency amid fears of a Russian invasion. Wall Street’s top indexes shuddered during the day’s trading sessions, and cryptocurrency markets slipped more than 4% during the 24…

Fitch Ratings Downgrades El Salvador Deeper Into Junk Status Citing Bitcoin Risks

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One of the largest rating agencies in the U.S., Fitch Ratings, has downgraded El Salvador’s long-term default rating deeper into junk status, citing risks from adopting bitcoin as legal tender as a key reason. “The adoption of bitcoin as legal tender…