US futures linger at all-time highs while cryptos hit new records, as Fed rings alarm on market risks
“We do it in the equity market, we do it in the bond markets, people might want it here,” Gensler said at the Aspen Security Forum over the summer.
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When some of the most respected people on Wall Street make comments like that, it “takes a huge element of mainstream out of the market,” says Innes. Essentially, these heavy hitters were telling their minions that bitcoin wasn’t worth their time.
Bitcoin hit another new all-time high above $68,000 Wednesday, two days after its previous all-time high when it went over $68,000 for the first time on Monday.
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The US Department of Justice says he "jeopardised the national security of the United States".
The longer term relationship varies over time. After exhibiting strong positive correlation in 2013 (where prices rose), and 2014 (where prices fell for a sustained interval), the longer term relationship between Bitcoin and Litecoin starts to break down around the middle of 2015. It can be seen in the accompanying price plot that at this point the Bitcoin price starts to gradually recover, whereas the Litecoin price does not.
Even though the current downside move is sure to shock some investors, slight corrections after reaching new all-time highs are a customary practice for Bitcoin.
Ultimately, the future of cryptocurrencies — their value, security, and staying power — is still up in the air. But the experts we spoke to believe owning some crypto could create value over time. Whatever your interest or motivation, experts stress the importance of making sure you understand the unique volatility and risk factors of cryptocurrency before investing.
Interestingly, the breakout was initiated right as a report from the United States Bureau of Labor Statistics (BLS) showed a sharp 6.2% annual rise in the Consumer Price Index (CPI), a figure that has hit its highest mark in 30 years.
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"With more participants in Bitcoin, there is perhaps less volatility, which is in turn attracting more institutional investors and further promoting the stability of the popular cryptocurrency.”
WARREN DAVIDSON: The industry is basically pleading, give us some regulatory clarity.
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The company has grown to become one of the biggest names in crypto by allowing anyone to use its service to trade myriad tokens, many of which are unavailable or limited on other exchanges. But over the past year, Binance has matured and begun to offer more formalized services. Following fiat currency exchange launches in the U.K., Uganda and Singapore, Binance is opening a dedicated U.S. exchange to avoid uncertainty around its legality.