Bitcoin Jumps to $21K After Soft US Data
The world’s largest bitcoin cryptocurrency rose more than 7% on Wednesday to hit a more-than-a-month high. According to Bank of Canada investors, this boom is very important for bitcoin as it marks us on a positive phase. Here we will be able to assess how inflation will come down in the future.
JP Morgan CEO Jamie Dimon: US-China tensions and Russia-Ukraine war are ‘more worried than recession’.
*According to CEO Jamie Dimon, the Russia-Ukraine war and US-China tensions are directly related to the economic slowdown. He made it clear in the press conference that he wanted to make the world aware of the deteriorating political relations. According to the CEO, such bad relations with Western countries are more dangerous than the recession and are worrying for the global economy.
*According to him, the economic storm of the world is exposed only by the geo-political relations, where the trade of two countries leads to progress and their hatred towards destruction. He recently announced that the US economy could fall into recession in 6 months. American policy must develop a spirit of mutual cooperation.
Fed Governor Waller casts doubt on the central bank’s digital currencies – according to him he is “not a big fan” of the Fed-issuing digital dollars.
*According to Governor Christopher Waller, he is not a big fan of the Fed issuing a central bank digital currency because it is just a checking account with the Fed. According to him, this digital currency is just a checking account, more than that it has no value but he will try to make people understand its importance. According to Waller – I don’t know why China is giving its citizens a checking account with the People’s Bank of China. Why, it’s going to undermine the role of the dollar in the global payment system. The Fed chairman said in September: “We postponed the move forward and we don’t see it taking that decision for some time.
Aspen Creek Digital and Compass Mining will host thousands of bitcoin mining at Texas Solar Farm.
*On October 26, bitcoin mining operator Aspen Creek Digital Corporation announced that the company had begun operations at a solar farm-powered high-performance computing center in Texas. It further elaborated that the company entered into an agreement with Compass Mining to host 27 MW of capacity, which will be deployed in the fourth quarter of the year. The facility will host 10,000 ASIC bitcoin miners connected to an 87 MW solar farm. The company elaborated that bitcoin miners have a third project capable of 150 MW of capacity co-located with a 200 MW solar farm. The third HPCC “will be automated by the middle of 2023. Our mission is to create a sustainable source of renewable energy to power our operations and will put renewable energy back on the grid,” said CEO Alexandra Dacosta.
Ethereum and Bitcoin Price Rise – Accurate Analysis by Crypto Experts
*Ethereum, bitcoin and most of the top 10 coins have already crossed the resistance and are currently performing very well. But according to the crypto expert, it could be a bull trap as the surge is triggered by the rate of sentiment and the real drivers of the market price. If the Fed is going to ease inflation, we are looking for a vibrant market over the next few months, without selling shocks.