Federal Reserve Chairman Jerome Powell confirmed that there might be smaller interest rate increases ahead although he sees progress in the fight against inflation as vastly inadequate.
Now, following the shocking events surrounding FTX and associated corporate entities (“FTX”) earlier in Nobember, BlockFi filed for bankruptcy in the US Bankruptcy Court in New Jersey on November, 28th.
DOGE has surpassed ADA and ranks 8th in the market cap list, The meme-inspired token had a market cap of $12,536,035,417 on Monday morning. According to CoinMarketCap, DOGE is currently trading at $0.09471 after a 23.5% rise in the past 7 days.
Many supporters of crypto have been under the impression that amongst the turmoil, Bitcoin would collapse as well. However, some experts believe that regardless of the state of the crypto space, the world's most popular coin should be unaffected by the downfall of major marketplaces due to the strength and reputation of the currency. What can we expect to see in the Bitcoin price movements?
It has been about 13 months since BTC hit its All-Time-High (ATH) in November 2021, and prices in the crypto market have been declining ever since. There has been no significant indicator that we may experience a reversal in the market trend anytime soon.
With the Feds focused on a 2% target for inflation, it's no surprise that many of the regulations enforced are seen as too tight and faced criticisms from some quarters. In response, Loretta Mester argued that the Fed is working to lower inflation “as painlessly as possible. I don’t think we should underestimate the consequences of continued inflation in the long run for the health of the economy.”
Recent videos in circulation show heavy protests happening at one iPhone plant owned and operated by Foxconn Technology in Zhengzhou, China. Audio comments from the videos, reportedly filmed at the protest sites, summarized that the unrest was due to the plant's deplorable COVID-induced working (and living) conditions and fear of spreading infections amidst other contract payment issues.
Unrecognized losses due to investments made by financial institutions could be a serious issue. Banks forced to sell these bonds at a loss may be facing some concerning problems in the coming year. This could shake the industry to its core.