BITCOIN

U.S. Presidential Candidate Robert F. Kennedy Jr. has warned that “the banking collapse is the tip of an economic mega-crisis,” emphasizing that “It’s not just the banks.” He also slammed President Joe Biden’s crypto mining tax proposal. “It is a mistake for the U.S. government to hobble the industry and drive innovation elsewhere,” Kennedy stressed. Looming Economic ‘Mega-Crisis’ Robert F. Kennedy Jr., who launched his presidential campaign last month, issued several warnings this week about the state of the U.S. economy, the banking crisis, and President Joe Biden’s cryptocurrency mining tax proposal. He is a nephew of President John F. Kennedy and a son of U.S. attorney general Robert F. Kennedy. Firstly, Kennedy warned about an incoming economic “mega-crisis.” He tweeted Tuesday: The banking collapse is the tip of an economic mega-crisis. It’s not just the banks. “Job openings plummeted for the third month in a row. Core factory orders dropped for the second consecutive mon...

Following a quarter-point increase in the federal funds rate by the Federal Reserve on Wednesday, precious metals such as silver and gold experienced a surge in value against the U.S. dollar, with gains ranging from 0.87% to 1.18%. Gold, in particular, has been on an upward trajectory, having risen by 3.4% in the past month and over 25% in the last six months. Fed’s Rate Hike Sparks Surge in Gold and Silver Values As of May 3, 2023, the price of gold per ounce has once again surpassed the $2,000 mark, currently trading at $2,057 per unit, representing a 1.18% increase in the past 24 hours. The Fed’s rate hike has sparked a flurry of activity on Twitter, with precious metals trending and generating numerous discussions and tweets. Meanwhile, global data from Google Trends indicates that the search term “how to buy gold” reached a perfect score of 100 on Wednesday afternoon, according to 24-hour statistics. GOLD chart by TradingView Silver has also been on the rise, with t...

Bitcoin rebounded from Tuesday’s losses, as all focus in the market turned to today’s United States Federal Reserve rate decision. It is widely expected that the Fed will hike rates by 25 basis points in May’s meeting. Ethereum also moved higher, nearing $1,900 in the process. Bitcoin Bitcoin ( BTC ) rebounded on Wednesday, as all focus in the market turned to today’s Federal Reserve rate decision . Following a low of $27,935.73 on Tuesday, BTC /USD surged to an intraday high of $28,881.30 earlier in the day. This came as after bitcoin rejected a breakout below its long-term floor at $27,600 to start the week. Bitcoin chart by TradingView Overall, momentum has shifted marginally higher, as the 10-day (red) moving average approached its 25-day (blue) counterpart. Should this upwards crossover occur, this could be a signal that bulls need to intensify pressure, and potentially take BTC back above $30,000. In order for this to occur, the relative strength index (RSI) will...