Price Point: Bitcoin rose to its highest level in three weeks during Asia trading hours, but the sell-off was swift after the U.S. consumer price index for August came in higher than expected. As of press time, bitcoin's price was back below $22K.
Market Moves: Investment banks are predicting a quick reversal of the dollar's recent slide. That could be bad for bitcoin, Omkar Godbole writes.
Chart of the Day: The dollar value locked in the open perpetual futures contracts tied to ethereum classic (ETC) has tripled to over $300 million in two months.
The leading cryptocurrency rose to $22,600 during Asian trading hours, marking its highest price since Aug. 19 and representing a 21% gain in seven days, according to CoinDesk data.
But – the cheery mood was quickly dashed at 8:30 a.m. ET (12:30 p.m. UTC) when the U.S. Labor Department released its monthly inflation report showing that the consumer price index rose 8.3% in August – a deceleration from July's 8.5% pace but still higher...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...