Recent events in Asia and beyond offer the latest evidence that crypto is a complex organism, global by nature and subject to the same issues and events that affect other assets; BTC jumps after the Fed's rate hike. shauryamalwa and JPRubin23 report
And on the fourth day of May, there was sunshine for bitcoin and other cryptos.
Growth has already slowed over the first part of the year. U.S. gross domestic product declined 1.4% on an annualized basis during the first quarter. But in remarks Wednesday, Fed Chair Jerome Powell indicated that the Fed could reduce the monetary stimulus that fueled the country's strong growth last year while ensuring the sort of soft economic landing that would comfort investors.
Dan Young, head of partnerships at blockchain analytics firm Elementus noted ongoing concerns about inflation; disappointing rates of crypto adoption, particularly in El Salvador, which made bitcoin legal tender last year;"high-profile protocol breaches that have highlighted vulnerabilities and increased regulatory scrutiny of miners. Yet Young said that"the space has shown to be incredibly resilient.
Consider events from the past week in the Asia-Pacific Rim region, which have helped keep bitcoin range-bound withat $37,000 and resistance just under $40,000. Cryptos’ desultory performance has tracked similarly range-bound pricing in Asia’s major equity markets.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chinese hackers cast wide net for trade secrets in US, Europe and Asia, researchers sayChinese government-linked hackers have tried to steal sensitive data from some three dozen manufacturing and technology firms in the US, Europe and Asia, security researchers said Wednesday
Read more »
Forbes Asia 100 To Watch 2022: Nominations Are OpenIn September 2022, Forbes Asia will again recognize small companies and startups on the rise for the second edition of the 100 to Watch list.
Read more »
Doctor Strange 2 First Reactions Celebrate Sam Raimi's MCU DebutThe first reactions to DoctorStrange in the Multiverse of Madness have arrived, and they largely celebrate director Sam Raimi's return to the superhero genre.
Read more »
Your Horoscope For The First Week Of May Is Jam-Packed: What Astrologers PredictA few oddball mashups could leave you feeling hot and cold this week. Here's what astrologers want you to know. 🔮
Read more »
First ‘Doctor Strange’ Reviews Call It A True Marvel Horror FilmThe first reviews of the new DoctorStrange sequel are here:
Read more »