European Central Bank Berates Bitcoin Says it is On ‘The Road To Irrelevance’
The European Central Bank has asserted that Bitcoin is standing on its last legs in a blog post released titled “Bitcoin’s last stand.”
Bitcoin Maximalists Up in Arms After Casa Supports Ethereum
Bitcoin maximalists reacted negatively to the news of Casa unveiling a new app with Ethereum support. The custodial service has been storing Bitcoin since it started, hence, BTC proponents feel betrayed by the move.
ECB Insists This Is “Bitcoin’s Last Stand,” Claims BTC Is Headed Toward “Irrelevance”
On Wednesday, Nov. 30, 2022, a blog post published by the European Central Bank (ECB) discusses bitcoin and the authors Ulrich Bindseil and Jürgen Schaaf seem to believe its “bitcoin’s last stand.” The ECB authors further say that while bitcoin’s price has consolidated and stabilized, the central bank officials remarked that “it is an artificially induced last gasp before the road to irrelevance.”
Fed Likely To Raise Rates by 50 Basis Points in December; Bitcoin Jumps
In its eighth and final meeting of 2022, the Federal Reserve will likely raise interest rates by another 50 basis points, or 0.5 percentage point, Fed Chair Jerome Powell implied Wednesday. The previous four Fed rate hikes were for 75 basis points, or 0.75 percentage point.
SilverGate CEO Says “This Type of Volatility Is Not New to Us”
In a recent interview with CNBC, SilverGate CEO Alan Lane said:
Bitcoin’s 1.7% Inflation Rate Performs Better Than the Fed’s 2% Target
The Bitcoin inflation rate fell from 50% in 2011 to 4% in 2020 prior to the halving and now stands at 1.7%, a figure way below the U.S. Federal Reserve’s monetary inflation rate target of 2%.
Don’t’ Believe the Hype — Bitcoin Price Rally to $17K Reflects Improving Sentiment
Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) price gained 6.1% between Nov. 28 and Nov. 30 after briefly testing the $17,000 support. Favorable regulatory winds might have helped fuel the rally after the Binance exchange announced the <a href="https://cointelegraph.com/news/binance-acquires-regulated-crypto-exchange-in-japan">acquisition of a regulated crypto exchange in Japan</a> on Nov. 30.
Mobius Capital Fund Manager Reveals His Downside Target for Bitcoin, but Says Digital Assets are Here to Stay
The veteran investor Mark Mobius has said <a target="_blank" href="https://cryptonews.com/coins/bitcoin/">bitcoin (BTC)</a> could fall to the $10,000 level, but he is still amazed by how well bitcoin prices “have held up” in the currently bearish environment.
Bitcoin Trades Over $17,000 Following Powell’s Speech, December Decisions Loom Large
The Fed is likely to slow its rate increases in December, while upcoming inflation data and the first U.S. House committee hearing on the FTX collapse also loom large for markets.
Bitcoin Security Firm Casa Embraces Ethereum
Bitcoin security firm Casa plans to expand its services to Ethereum and Ethereum-based assets, the company announced Wednesday.
