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Showing posts from November 2, 2022

Bitcoin, Ethereum Technical Analysis: ETH Drops to 5-Day Low, as Fed Likely to Delay Policy Pivot

Ethereum dropped to its lowest level since last Friday during today’s session, as consolidation in crypto markets continued on Wednesday. This comes ahead of this afternoon’s U.S. Federal Reserve interest rate decision. Bitcoin was also in the red, and remains below $20,800. Bitcoin Bitcoin ( BTC ) continued to trade below $20,800 on Wednesday, as market uncertainty remains high ahead of this afternoon’s Fed meeting. Although markets have somewhat priced in a 75 basis point hike, some are also looking for forward guidance from the bank, which includes a timeline for pivoting policy. BTC /USD fell to a low of $20,359.85 earlier in today’s session, less than 24 hours after tracking at a peak of $20,545.35. Looking at the chart, the token has mostly traded in the red since the weekend, which comes following a failed breakout on the relative strength index (RSI). The index failed to move beyond a long-term ceiling of 63.00 over the weekend, which acted as a signal to bears to reente...

Central Bank Gold Buys This Year Reach an All-Time Quarterly High in Q3, 400 Tons Purchased Is the ‘Most on Record’

According to the World Gold Council’s (WGC) latest quarterly report, worldwide gold demand, excluding over-the-counter (OTC) markets, was 28% higher year-over-year. While demand jumped higher than last year in the third quarter, central bank gold buying tapped an all-time quarterly record in Q3 2022. The quarterly report indicates that the world’s central banks purchased close to 400 tons of gold and the WGC study says that it’s the “most on record.” Q3 2022 Data Shows the World’s Central Banks Stacked Close to 400 Tons of Gold On Nov. 1, 2022, the World Gold Council (WGC) published the organization’s “Gold Demand Trends Q3 2022” report, which highlights the current trends tethered to gold and the precious metal’s markets during the third quarter. WGC’s report , published on gold.org, says the third quarter was healthy and was driven by “stronger consumer and central bank buying.” WGC highlights that these factors helped year-to-date demand “recover to pre-Covid norms.” “Gold deman...

VICUNA Platform, Smell in Metaverse-VINAVerse

VICUNA is designed to develop cutting-edge technology and applications that push users beyond the limits of immersive experiences. VICUNA team believes in building products that improve customers’ lives and advance the state of VR as an industry with a strong focus on innovation and Artificial Intelligence(AI)—backed by the UAE’s leading investors, including Smart Desert Investment and Bin-Dhaen Holding. OSDT launched VICUNA; it is a licensed Company in Dubai, UAE. VICUNA team are world award-winning AI and Blockchain scientists and researchers. The VICUNA team; constantly pushing boundaries and exploring new avenues for immersive technology to make a difference in people’s lives. VICUNA is dedicated to opening up new opportunities for innovation and change within immersive technologies. The smell and Touch section allows users to shape the new world and experience the next level of gamification on Metaverse. We invite you to join us as we build better internet and virtual-reality...

Economists Warn of Severe Recession as Fed Continues Raising Interest Rates to Fight Inflation

A growing number of economists have warned about a severe recession in the U.S. if the Federal Reserve keeps up its fight against inflation. “Each adverse development in the outside world implies the Fed is going to have to do more in order to bring the situation under control,” said one economist. Economists Warn of Deep Recession Resulting From Fed’s Response to Inflation A growing number of economists have warned that the Federal Reserve’s fight against inflation, which remains at the highest level in decades, could lead to a severe recession in the U.S. At the upcoming Federal Open Market Committee (FOMC) meeting Wednesday, the U.S. central bank is expected to raise interest rates by another 75 basis points — the fourth 0.75 percentage point increase in a row. However, several economists cautioned that policymakers’ response to inflation could lead to a more severe downturn for the U.S. economy, the Financial Times reported Tuesday. “Each adverse [inflation] report and each adv...

Chinese Central Bank Governor: User Privacy and Financial Security Key Principles Guiding CBDC Design Process

According to Yi Gang, governor of China’s central bank, the process of designing the country’s digital currency is premised on two principles, the protection of user privacy as well as ensuring “financial security.” To achieve this, the central bank’s role will be limited to managing the digital currency’s “operating system” while the handling of personal transaction information is done by “designated operating institutions.” Adhering to Relevant Consumer Protection Laws People’s Bank of China (PBOC) governor Yi Gang has said the process of designing China’s central bank digital currency (CBDC), the digital yuan (also known as e-CNY), is guided by two principles: maintaining financial security and the protection of users’ privacy. To ensure the principles are adhered to, Gang claimed his institution’s role will be limited to managing the e-CNY operating system as well as handling cross-border transactions. Also, in his Oct.31 remarks to Hong Kong Fintech Week 2022 participants, Ga...
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