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Tag Archives: Bitcoin

Maybe Interesting, Perhaps Somewhat Useful Other TIC Nuggets

I’m just going to post some brief comments on other parts of the TIC data. The major takeaway from the May 2021 update is what I wrote earlier, how what these figures show is both entirely consistent with what will be to most people a surprisingly long history as well as completely misconstrued in mainstream conversations (what few may take place). We’ll begin with official institutions. They were again on the selling side of UST’s, after having been solidly reflationary buying (also...

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Bitcoin, El Salvador, And…The Eurodollar’s Ghost

The Salvadoran colón is still technically legal tender in El Salvador. The country’s government under President Francisco Flores had passed the Law of Monetary Integration in 2000, taking effect on January 1, 2001. This legalization of the US dollar for domestic circulation didn’t specifically remove the colón from common purchases or prohibit its use; the country’s Central Reserve Bank just stopped printing any more denominated paper notes and ceased minting any more of its coins. Why not...

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How Long is Transitory?

The Bank of England meeting on June 24th finishes this round of major central bank meetings.  At its last meeting, Bailey & Co reduced the weekly bond-buying.  The extension of social restrictions well into July provides added reason to be cautious, though economic activity is accelerating and consumer prices are rising faster than the medium-term target of 2% for the first time in three years.   British growth is likely peaking this quarter, perhaps a little above 4%. It would put H1 21...

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Bitcoin Edging Toward $60K: Why Is the Coin Teasing?

At 11:10 GMT on Saturday, BItcoin traded at $59,785, a loss of 0.2% in the last 24 hours. As the price of the king cryptocurrency corrects, the coin continues to trade extremely close to $60k. In the past few days, Bitcoin has been able to fully recover from a fall to $52,000 toward the end of March. As this goes on, data from Santiment indicates that recent transactions from Bitcoin...

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Commodities Week in Review: March 29 to April 2

Commodities Week in Review: March 29 to April 2 Agriculture  The biggest story this week in the agricultural commodities market was the US Department of Agriculture’s (USDA) 2021 Prospective Plantings report that sent prices soaring. The USDA stated the domestic farmers will plant lower soybean and corn acreage than what market analysts had initially anticipated. This triggered a massive rally on Wednesday, hitting a daily...

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JPMorgan Sees Institutional Opportunity Due to Falling Bitcoin Volatility

A drop in volatility in Bitcoin (BTC) can have a good effect on attracting large players. At least analysts of the American bank JPMorgan think so, writes Bloomberg. According to experts, the recent decrease in cryptocurrency volatility creates conditions for the arrival of institutional investors. JPMorgan said: We believe that a potential normalization of bitcoin volatility is likely to help revive...

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Bitcoin Hits $60K, Edges Closer to Breakout

On Friday, Bitcoin briefly hit $60,000 and surged above the psychological hurdle. This is the fourth time the coin is retesting $60k in a slow grind back to its all-time high of $61,000. TradingView showed bullish tendencies remaining overnight for the BTC/USD pair. A correction below $60k pushed the king cryptocurrency back to $59,000. At 11:19 GMT on Friday, the coin was exchanging hands at $59,810, only about $200 away from $60,000...

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As the Second Quarter Begins, Bitcoin Is in Its Best Year Yet

As the second quarter begins, Bitcoin price is looking at its strongest three-month gain than any quarter since 2013. With a 103% gain in the first 3 months of 2021, the coin looks primed for more. Typically, March has been a bad month historically for Bitcoin. However, the king cryptocurrency saw a  massive increase of nearly 30% over the month is strong evidence that this year is different. Moreover, it was during this year that Bitcoin tested an all-time high of $61,000, a record high...

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Bitcoin Price Crash Paused by Goldman Sachs Entry into the Market

Bitcoin fell over $2,000 on Wednesday. The price fell from $59,400 to nearly $57,000 in just five minutes of trading. At 17:39 on Wednesday, the coin was exchanging hands at $59,122, a gain of 0.63% over the last 24 hours. Market analysts have blamed the quick fall on overleveraged long positions. The plunge liquidated about $600 million worth of extended bullish contracts across major futures exchanges. After the fall, Bitcoin maintained a short-term price floor...

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Bitcoin Gains Ground amid Falling Interest in Gold

Bitcoin (BTC) has consolidated at $59,500 as the attractiveness of gold has declined, which has already approached a nine-month low. According to Bloomberg, the precious metal is approaching its first quarterly decline since 2018. Source: denvergold.org Interest in gold is falling due to the potential for a global economic recovery, the newspaper writes. In recent weeks, the price of gold has largely declined with no chance...

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