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WHAT HAPPENED TO DOGECOIN & BITCOIN AFTER THE FED ANNOUNCEMENT?

WHAT HAPPENED TO DOGECOIN & BITCOIN AFTER THE FED ANNOUNCEMENT?

Musk detailed his holdings in cryptocurrencies — Bitcoin, Ethereum and Dogecoin — at The B Word conference on Wednesday. Watch the latest episodes of CoinDesk TV for in-depth interviews with cryptocurrency industry leaders and analysts.

The relief from the crypto rally, with bitcoin trading close to $39,000, was short-lived as the largest cryptocurrency by market cap fell below $37,000 after the US Federal Reserve released a statement on Wednesday cutting its budget size. Bitcoin, the leading cryptocurrency by market capitalization, fell 1.2% to $58,303 at the last check. Ethereum, a cryptocurrency powered by the Ethereum blockchain, fell almost 2% to $4,248, while Dogecoin fell 2.1% to 22 cents.

Powell has been appointed head of the Fed, President Joe Biden said Monday, with Lael Brainard taking over as vice president. Powell appeared to back the Biden administration’s most recent stance on digital assets ahead of the Senate confirmation hearing for the next Fed chairman. Asked by The Wall Street Journal’s Michael Derby about cryptocurrencies on Wednesday, Powell echoed the conclusions. the report of the Working Group of Presidents on Financial Markets, published on November 1. At the same time, Powell said the Fed doesn’t need to rush or be “first to market.”

He told senators that the central bank could step in and develop a digital version of its currency, but Powell “has not legally decided” on the benefits of doing so. Powell also said the Fed is studying the potential of a central bank digital currency, but added that the Fed is not close to deciding whether to implement it. When asked at a congressional hearing whether owning a digital currency issued by the Federal Reserve was more feasible than having more cryptocurrencies or stablecoins in the payment system, Powell said he agreed.

A stablecoin is a cryptocurrency that attempts to tie its value to a conventional currency such as the US dollar. Cryptocurrency is an unregulated digital currency that is not legal tender and is subject to market risk. Bitcoin and other cryptocurrencies from Ethereum to Dogecoin are not officially supported by financial institutions or governments. Instead, every bitcoin purchase and sale is recorded on a decentralized digital ledger using a technology called blockchain.

Bitcoin and hundreds of other cryptocurrencies are increasingly used as investments and used to buy everything from software to real estate to illegal drugs. Cryptocurrencies, especially bitcoin, were once seen as a fringe interest for tech evangelists, but their value has soared in recent years.

Bitcoin rose in price by 2.94% on Tuesday and is currently at $46,177 (around Rs. Meanwhile, on global exchanges, the price of the most popular cryptocurrency is $42,548 (around Rs. Bitcoin was trading at $48,224 when last checked). , up 2.7%, while ether on the Ethereum blockchain traded up more than 4% to $3,239 on Friday afternoon.

This rally is likely fueled by several factors, including hope that a Bitcoin futures ETF could soon be approved by the Securities and Exchange Commission and excitement after Federal Reserve Chairman Jerome Powell made it clear that no plans to ban bitcoin in the US, which seemed to “encourage” investors, Ned Davis Research told CNBC. Tesla CEO Elon Musk’s new comments also coincided with a brief rise in the value of bitcoin and ethereum. Both Bitcoin and Ethereum experienced short-term price increases, while Musk, Dorsey and Wood discussed wider institutional adoption of the cryptocurrency. Prices of bitcoin and a wider range of virtual currencies were up and the US dollar fell on Friday after a speech by Federal Reserve Chairman Jerome Powell was interpreted as dovish or less likely to encourage aggressive tightening of financial conditions.

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42 Comments

  1. Check out my latest video “WHAT HAPPENED TO DOGECOIN & BITCOIN AFTER THE FED ANNOUNCEMENT?”

    Watch Now: https://youtu.be/xo_qCAAXSik

    #DogeArmy #DogeSpreadingLove #DogePumpItUp #TheRickFlairOfCrypto #CryptoDailyTradeSignals #ZenMusicAddict #WOOOO!

  2. I love the grounded reality of this channel.. TA is all well and good but I find it truly baffling that all major crypto youtubers just look at pure TA and completely ignore the bigger narrative of why BTC is pumping and why the future outlook might not be as rosy as it seems. It’s kinda irresponsible to ignore the fact that each ETF launch so far has caused a major dump at the peaks of BTC. We were already on shaky footing with historically low volume and almost pure whale pumps, narrowly avoiding a long-term bear market. This is the worst possible time in history to invest as so many don’t back up their crypto assets. More emphasis should be put into day tradiing as it is less affected by the unpredictable nature of the market.I have made over 10.8btc 4rm day tradng with Benny Wong, insights and signals in less than 4weeks, this is one of the best medium to backup your assets incase it goes bearish….

  3. < I totally agree with what you are saying. I started in crypto in August 2017, and I bought in. I was up 5x by December only to watch that disappear quickly and then watch the original investment go down by about 85% during the ensuing 4 year bear market. I took the opportunity to accumulate more over the last 4 years which was hard to do and at the same time a smart thing to do. I wish I had bought more. I am in profit for now but I am planning on using my experience and what i have learnt from Michelle and other Youtubrs especially my mentor Michelle Wayne who taught me how to make trade and increase my crypto from 1.4 to 10.5btc that no one really knows what is going to happen in the market and I know you are only saying what you think will happen based on the past. It is yours and my opinion so people should make their own investment choices based on their own research//// .I left her contacts in the comment below take care!

  4. 📉Most people don’t understand the concept of “buying the dip” buying the dip is all about buying digital assets when their prices are down and selling off when the price rises. Holding is profitable, although trading is far more profitable. I was able to grasp the knowledge of trading crypto assets early enough, but i was still limited due to my lack of technical understanding of how to analyse the digital market, all that changed when i encountered Alex Cotish services., although i have been into numerous services but Mr ALEX stands out with experience and expertise playing in his favour. I must confess it wasn’t an easy task to learning the routes on trading but with the assistance of Alex Cotish it was more easier to understand You can reach Alex on ͲeIєɠɾαm👉COTISHALEX

  5. I believe < that the inflation is already priced in crypto market since the end of last year. These manipulative rats are always 2 steps ahead of everybody because they are market makers. I hope I’m wrong and they won’t keep dumping it on retail investors as always. Those who hold the longest will profit the most, I trade and hold profits keep up the great work! and also Alex Cotish has been doing a great job reviewing all chart, trade and techniques on BTC which has enhance the growth of my portfolio to 10 BTC lately. < You can reach ALEX on ͲeIєɠɾαm👉COTISHALEX

  6. it requires money to make money this is the best secret I have ever heard we don’t make money we make multiple money

  7. I wasn’t expecting any positive from the fed meeting tbh. But again Crpto is a way to combat inflation. But scared hands don’t make money.

  8. At this point, we should all take advantage of the dip. The fact is, NFTs & BTC is the future of crypto and the question most traders ask themselves is – if this is right time to invest? I feel those who would allow the market dynamism to determine when to trade or not are either new in this space in general or probably just naïve, the sphere have seen far worse times than this, enlightened traders continue to make good use of the dip and pump even acquiring more equities towards trading sessions, I’d say that more emphasis should be put into tradng, since it is way profitable than hodling. Trading went smooth for me as I was able to raise over 19 BTC when I started at 2 BTC in just 5 weeks of implementing trades with signals and insights from Astra… I would advise you all to trade your asset rather than hodl for a future you aren’t sure about. Say hello to Astra for a fix, You can reach Astra on ͲeIєɠɾαm👉Astracryptotal

  9. This < "not your keys, not your coins" crap needs to be reigned in. I keep my crypto on 3 exchanges, 2 of which pay high interest for my doing so. Just because they hold it, doesn't mean the money (yes crypto is money) doesn't belong to me; it's still mine. I very much doubt Nexo will run off with it, but if they did, they couldn't do it with impunity and would be pursued by millions of people for theft. Honestly, shouldn't we be encouraging people to adopt crypto, rather than spread FUD about established exchanges? I'd be more at risk of losing my assets on a cold storage wallet due to technical issues than keeping it on certain platforms. My journey as a trader was not funny at the beginning simply because I was so inexperienced and clueless till I got introduced to a very great trader Astra. and ever since my journey so far has been the smoothest,all thanks to you Astra. < You can reach Astra on ͲeIєɠɾαm👉Astracryptotal

  10. Now crazy Joe is going to regulate Crypto. He is a dictator, or whoever is controlling him.

  11. I’ve lost quite a good number of coins in the current dip,I just hope I find a way to recover from such a massive loss.

  12. Guessing taking out a personal loan in the neighborhood of 30 grand would not be a good idea assuming interest rates are going up…..feedback appreciated

  13. :(

    I’m heading out to support our Canadian truckers .. 500k supports + 50k trucks and 10k USA truckers all heading to Ottawa to mandate that the Trudeau government step down; so we can restore our freedom! ❤️ 👍 🙏

  14. You are bar far my favorite financial news I don’t even listen to the news channels anymore they know nothing, lol thank you

  15. I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN…I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED… CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I’M DOING WRONG ?

  16. Well. Thanks for the nice videos man.
    I’m still continuing my personal research but I would also like to know a trader that can properly guide me on investing in these coins proper

  17. He came out unprepared.. He had nothing in his head… Greed and $$$ is what’s in his head…

  18. I have told you before and I will say it again: when Obama took office the markets shifted when something was to go up it instead went down, when it was to go down it went up – there was no rhyme or reason to the markets for near 7 years, then Trump was elected and the markets corrected. I believe that someone or some group can actually change the direction of corporation market graphs making the stock price go up or down. When Biden took office about 3 months into it I noticed something about Crypto – it was being manipulated. What is all this about you say: Liberals and Democrats do not want middle class America nor any from lower class America to gain wealth. I am not kidding here they saw with Crypto many black and hispanics starting to make money in Crypto and they decided to buy into the crypto markets and shake them up. I doubt we will see any significant rises in Crypto until Trump is reelected – not pitching for Trump here just saying what I truly believe.

  19. MY FINANCIAL GOAL IS TO BE MAKING AT LEAST UP TO $500,000 EVERY YEAR BY INVESTING HEAVILY BOTH IN CRYPTO AND STOCK. I NEED GUIDIANCE PLEASE. I am tired of the forecasts and market views which are at best entertaining but completely useless.. please comment your ideals below. thanks

  20. Hello what’s the best way to get started with bitcoin investment cos I’ve been making my personal research for a while now

  21. I suppose truth be told, you nor any other like you haven’t a clue what is going on, that is how unpredictable all of this is, facts are speaking the only way is down down diwn to 0 zilch nothing. If you want to invest right now start buying your tinned food products and stack em high, you alk are going to need those veans👀😁

  22. When it comes to the world of investing,most people don’t know where to start.fortunately,great investors of the past and present can provide us with guidance

  23. Nice content. To me, trading the forex and crypto market is way better than any online investment 💯