Market Rise, Investors Ignore Sentiment

Jakarta, – Today’s Bitcoin news covers the cryptocurrency market that is starting to get excited.

At the end of this week, the cryptocurrency market seemed to continue to recover. The price of Bitcoin had fallen badly previously, but this weekend it started to rise again.

This is due to the different sentiments that affect the rate of movement of the Bitcoin market. For more details, let’s take a look at today’s Bitcoin news review.

bitcoin news today

Crypto Market Takes Off This Weekend – Bitcoin News Today

Towards the end of this exposure, the crypto-asset market continued to resurface. The September perspective could still be tested as an unfavorable month for crypto assets.

When the Coinmarketcap data was released, on Saturday (10/9/2022) yesterday, the value of Bitcoin rose into the green, by 9.75% at $21,288 or about Rs. According to the report, the market’s upward movement accelerated, indicating investors’ optimism about the accumulation.

Read alsoBitcoin News Today: BTC-ETH Pulls Back, Watch Price Action

Investors tried not to worry about comments from Federal Reserve Chairman Jerome Powell, which strongly indicated that he would raise the benchmark interest rate.

So far, the cryptocurrency market is still fortunately affected by the smart moves of the US stock market yesterday. Understandably, investors always use the rate of US stock indices as a reflection of their risk appetite. In addition, Jerome Powell’s comments appeared to have been ignored by investors.

Investors are confused with the Federal Reserve

Then the pace of crypto-asset prices slowed after Powell once again demonstrated a stance to continue raising the benchmark interest rate in order to curb inflation in the US.

In addition to Powell, the usually pacifist President of the Federal Reserve Bank of Chicago, Chris Evans, also supports raising the Fed’s benchmark interest rate to 4 percent by the end of the year.

These comments left investors confused and away from the cryptocurrency market. But he regained his confidence after seeing the performance of US stocks, which managed to enter the green zone.

In addition, encouragement was also felt by the persistently declining value of the US dollar (DXY). A weakening US currency asset will encourage investors to return to the risky asset market.

Investors are once again showing their enthusiasm for the update of the Ethereum network called The Merge, which is scheduled to be launched on September 10-15, 2022.

Negative sentiment continues to cast a shadow – Bitcoin News Today

The enthusiasm of cryptocurrency investors may be slowly fading due to one of the policies of the US White House that yesterday issued a report on the environmental impact of mining activities for digital assets, such as Bitcoin, that will hinder US efforts to combat climate change. .

Read alsoBitcoin News Today: Bitcoin Price Slows, Investors Watch ETH

Then, September 13th will be the day when the US Consumer Price Index data will be released which helps investors understand what is happening to the inflation rate in the future.

“In the last two announcements, US inflation data caused a significant spike in volatility in the cryptocurrency market. The first time the numbers released were much higher than expectations, while the July data brought investors a pleasant surprise with inflation,” said crypto analyst Avid. under control”.

On the 10th of August, inflation data led the market to witness a sharp rise in trading volume and volatility as Bitcoin reached a high of $25,000. But despite the short-term euphoria, the market was not able to enter a full recovery mode and returned to the downside soon after.

This is the review on today’s Bitcoin news. I hope this information is useful to you.

Read alsoBitcoin News Today: Still slow, BTC price reaches IDR 300 million

Read on for the latest Indonesian fintech and crypto news only at

Author: Contributor / Shuhada Banji A

Source link

Leave a Reply

Your email address will not be published.