Category: Economy

The controversial infrastructure bill that was highly debated by the crypto community will go to the US House of Representatives this week. The bipartisan infrastructure bill proposed by the Biden administration will be voted upon on September 30.

Pelosi Optimistic that Bill will Pass

Nancy Pelosi, the speaker of the House of Representatives, has given several remarks that display her optimism towards the bill passing. In a statement given by Pelosi on September 26, she stated that “Let me just say that we’re going to pass the bill this week.” She had earlier stated that she would not have called the bill into a vote if she did not believe it would pass.

She further stated that the debate regarding the bill would commence on September 27 at the Floor of the House. The voting for the bill will happen the day before the expiry of the Surface Transportation Reauthorization … Read more

The crypto market has been in turbulence this week, and this has caused the Bitcoin Fear and Greed Index to drop to 21. This metric shows that the crypto community is in a state of “extreme fear” of further price dips.

It is the first time in two months when this index has shown a state of extreme fear among crypto investors. This revelation comes when the price of Bitcoin fell to lows of below $40,000 from highs of $48,000. However, Bitcoin has shown signs of recovery, as it is currently trading at around $44,000.

Market Developments Cause Extreme Fear

The crypto market is not the only one facing uncertainty, as setbacks have also been reported across the broader financial markets. The recession has been attributed to the debt crisis at the Evergrande Company in China. It is not the first time that the price of Bitcoin is responding to … Read more

Leadings banks in Europe and the United States have come together to object to a set of rules related to crypto holdings. Among the major banks opposing these rules include Deutsche Bank and JPMorgan Chase.

The new set of rules states that financial institutions that hold Bitcoin will be required to put aside a dollar in capital equivalent to a dollar of Bitcoin owned.

Oppose Strict Capital Requirements

The proposals related to crypto holdings were published in June by the Basel Committee for Banking Supervision (BCBS). The committee comprises global regulators and representatives of central banks, including the US Federal Reserve and the European Central Bank.

However, the Global Financial Markets Association, comprised of Deutsche Bank, JP Morgan Chase and five other financial industry associations, has published a letter that argues that cryptocurrencies, including Bitcoin, should not be subject to these strict capital requirements.

According to the … Read more

Bookblocks.io, a non-fungible token (NFT) company, has teamed up with Women for Afghan Women, an organization based in New York, which focuses on promoting women’s access to education in Afghanistan and the United States.

The partnership comes after the Taliban takeover in Afghanistan that has limited the access of women to education.

Release an NFT to aid in Course

Bookblocks.io stated that it would release an NFT on October 5, and the proceeds made from the same of this NFT would be remitted to Women for Afghan Women. This not-for-profit organization also seeks to help women get vocational training that will enable them to seek jobs.

The NFT to be sold will be a piece of art with half of a woman’s face covered with one butterfly wing. The artwork also has a quote, “nothing is impossible to a determined woman.”

Bookblocks.io also stated that 100% of … Read more

Bitcoin Price Prediction – September 23

The Bitcoin price bounces off the support at $43,096 and added more than $800 to its current value.

BTC/USD Long-term Trend: Bullish (Daily Chart)

Key levels:

Resistance Levels: $50,000, $52,000, $54,000

Support Levels: $38,000, $36,000, $34,000

BTC/USD is currently trading around $43,997 with a 0.97% gain in the past 24-hour. According to the daily chart, the Bitcoin price is fighting to stay above the important level of $45,000 as it moves close to the 9-day moving average. However, for BTC/USD to remain above this level for the next few days, the bulls need to make the $35,000 support level to be pretty strong.

Bitcoin Price Prediction: Could Bitcoin Price Break Higher?

Since yesterday, the Bitcoin price has been maintaining little upward movement, and if the first digital asset breaks above the moving averages, it could touch the … Read more