With interest rates up and QE finished, Bitcoin has had its day. So, in answer to the question, it's a bounce!
Bitcoin: Only a Bounce or a New Bull?
In our last update, see here; we presented two Elliot Wave Principle (EWP) options for Bitcoin (BTC) and its halving-cycle-related four phases. More about those in a later update. We found, “Currently, [BTC] is in a corrective wave, red W-ii, which should ideally subdivide into three smaller green waves, with green W-a completed this week. Green W-b to 29.5+/1.0K is now underway, followed by green W-c down to $21.7-23.6K. Once red W-ii ends, W-iii (the third wave) will kick in and propel BTC to six digits. The alternative to this long-term Bullish EWP count is that red W-ii is already complete: labeled as “alt: ... (full story)
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The imminent US government shutdown that threatens to delay the publication of key economic data will test policymakers’ and investors’ trust in a range of less-regarded ...
Thank you, Sarah, thank you to those in Fed Education who helped put together this event, and thank you to the teachers here and online who have put aside some of their planning time to listen and, I hope, also participate. If I were doing the grading, credit would always be granted for participation. We have scheduled this discussion with teachers well into the school year, partly to highlight the beginning, on October 1, of Economic Education Month. At the Fed, every month is Economic Education Month, and we are glad to join in the celebration. It is, fortunately, a very different time for teachers than the one we faced in August 2021, the last time we held this discussion with educators. In the crisis of the pandemic, teachers were on the front lines. I know how overwhelming this challenge was for many of you, and the extent of your sacrifice, for which I thank you. And the crisis in many ways continues, as research confirms the educational deficits that students still suffer from the pandemic. In addition to the challenges they face, there are likely to be consequences for the economy and for society, in a generation of young people who may lack some of what they need to be well-informed and engaged participants in our economy and our democracy. Addressing this legacy of the pandemic is a major public policy challenge, so now more than ever, teachers are crucial to America's future. A large majority of you are economic educators, a role that is of particular importance. As many of you know, the Fed's ability to influence the economy depends to some extent on influencing the public's view of current and future economic conditions. When my tweet: FED CHAIR POWELL DOES NOT COMMENT ON OUTLOOK FOR MONETARY POLICY, ECONOMY IN PREPARED REMARKS TO TEACHERS' TOWN HALL
tweet: FED'S BARKIN: VERY HARD TO IMAGINE INFLATION EASING A LOT WHILE GROWTH IS VERY STRONG tweet: FED'S BARKIN: LAST FIVE MONTHS OF INFLATION DATA HAVE BEEN ENCOURAGING tweet: *FED'S BARKIN SAYS SKILLED TRADES SEEING WAGE PRESSURE *FED'S BARKIN SAYS DOESN'T SEE `TRAUMA' COMING IN LABOR MARKET *FED'S BARKIN SEES NEXT QUARTER AS SOLID, NOT ROBUST
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The Securities and Exchange Commission has delayed decisions on several other bitcoin ETF proposals just days after delayed decisions for Ark 21Shares and GlobalX until January. ...
Is strength in the U.S. dollar derailing bitcoin's momentum? Insights by Jim Iuorio.
Inflation tumbling in Europe (German CPI), the American consumer hitting a wall (PCE), and the US housing market collapsing (pending home sales) were enough to actually - for once ...