Market review: Bitcoin finds new ways, shares are increasing due to the profits

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Von: Krypto News Österreich

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  • A report by JPMorgan analyst says that Bitcoin is currently overrated, but could reach up to $ 150,000 in the long term
  • The mood on the stock markets has recently turned into the positive, which shows that investors have apparently pushed the fears of impending interest rate increases aside

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Bitcoin fought back up and through a level of resistance of around $ 42,500. The crypto went up to $ 45,400 and has settled near $ 43,450 since then. Ether followed a similar trend by broken and kept the resistance brand of $ 3,000.

After the pump of the past few days, great cryptos such as Bitcoin and Ether have calmed down again and created a line of support from the previous resistance. This draws a picture of a positive short -term mood in the markets for digital assets.

The largely positive hearing of the Financial Service Committee of the US House of Representatives also contributed to StableCoin regulations. Nellie Liang, Sub -State Secretary of the Ministry of Finance for Domestic Finance, During the hearing that stable coins do not issue with the dollar or one from the Federal Reserve CBDC (digital currency of the central bank) would compete.

"It is important to preserve the value of the dollar. I think stable coins that are stable and can provide a stable value that is bound to the dollar would benefit the US dollar," said Liang.

"In my opinion, the regulation of stable coins does not rule out anything in relation to the introduction of the CBDC. It is difficult to know what the future will look like, but you could imagine that they could exist side by side," said Liang when it comes to CBDCs and privately issued stable coins that exist next to each other.

generally positive result

good yield reports seem to have helped investors forget to forget upcoming interest increases. The S&P 500, Nasdaq and Dow rose on this day, since the winning reports were largely positive, even if outliers like Meta and PayPal tended down.

The S&P 500 rose by 37.67 points or 0.84 %. The NASDAQ rose by 175.79 points or 1.21 % and the Dow increased by 371.65 points or 1.06 %.

Top stories

Story: couple arrested when the government retained stolen bitcoins worth $ 3.6 billion

  • In the event of a conviction, a maximum penalty of 25 years in prison is imposed for both crimes.
  • It is the greatest financial confiscation of the department to date, said deputy attorney in General Lisa Monaco in a statement.

Story: The Web3 startup Alchemy collects $ 200 million to advance blockchain development

  • In less than four months, Alchemy's evaluation has increased from $ 3.5 billion to USD $ 10.2 billion.
  • Over $ 105 billion in annualized on-chain transactions have so far been supported by Alchemy, an increase of 133 % compared to $ 45 billion in October.

Story: Andrew Yang: We have to avoid the politicization of crypto, web3

  • The perception of the digital asset room must go beyond "a bunch of speculating crypto brothers".
  • The Forward Party, a political action committee that the former Democrat founded in October, wants to become the movement that supports the mainstream of cryptotechnologies.

Story: Sovereign WEALTH Fund Vet sees $ 150 million for Crypto Fund of Funds

  • Before the founding of Nural, Rabia Iqbal worked for Mubadala, Coatue Management and Morgan Stanley.
  • The roof fund plans to support both crypto and risk capital managers and to invest directly in token and stock games.

go forward

Investors seem to have been lured back to the markets through positive yield reports that have reduced the extent of fear and uncertainty on the market. The Governor of the US Federal Reserve, Michelle Bowman, will speak tomorrow at 10:30 a.m. EST, followed by Loretta Mester, President of the Cleveland Fed, at 12:00 p.m. ES. These events could affect tomorrow's market movements.

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The Post Market Recap: Bitcoin Finds New Ground, Stocks Rise on Earnings is not a financial advice.