Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

eToro Market Update: Altcoins Get Volatile, Federal Reserve Puts on a Show

by Powered by eToro
September 19, 2019
in Explore
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

OUR STORY                 DISCOVER CRYPTOCURRENCIES                  NEWS AND UPDATES

Hi Everyone,

Perhaps the most influential man of the last decade and a personal hero of mine, the man who blew the whistle on the American government’s program to spy on its own citizens by recording all communications, is now being sued by the Department of Justice.

The claims brought forth by the Trump administration are that Edward Snowden has revealed state secrets and violated a non-disclosure agreement as well as an oath to support and defend the constitution of the United States.

The US government has now made a motion to seize all profits from his new book, Permanent Record, which has skyrocketed to the top of Amazon’s Best Sellers list.

Many people looking to buy the book are now a bit conflicted. By buying the book, will we actually be supporting the government’s attempt to punish a man by way of unfair monetary confiscation?

in conclusion this is good for bitcoin

— Edward Snowden (@Snowden) September 17, 2019

@MatiGreenspan
eToro, Senior Market Analyst

Today’s Highlights

  • Interest Cut
  • Quick Alt Season
ADVERTISEMENT

Please note: All data, figures & graphs are valid as of September 18th. All trading carries risk. Only risk capital you can afford to lose.

Traditional Markets

In putting on a show, the Fed did not disappoint yesterday. Though many investors were extremely disappointed in the results. In short, yesterday’s Fed event was simply a mess.

Of the ten voting members a total of 3 people dissented against Powell’s decision. Two of whom said they shouldn’t have cut rates and one who said they should have cut deeper.

In addition to cutting the interest rates from 2% to 1.75%, the Fed was also forced to intervene in a different way.

The Repo Markets

This Fed meeting was held on the backdrop of some rather strange and particularly alarming movements in the short-term funding markets.

This magical place commonly known as the repo market is critical for Wall Street’s operations as it channels about $1 trillion dollars per day, usually quietly, through the heart of the financial system.

You see, many times banks borrow money for a very short period of time. The amount of interest they pay is supposed to be about the same as the Fed’s interest rate. As of Monday, the rates have begun to spike. Some even reached as high as 8.5%.

Nobody is too sure why the rates spiked, nor does anyone seem too incredibly concerned but the Fed did create some new money in order to push it back down.

In total, the Fed injected $128 billion into the system. $53 billion on Tuesday and another $75 billion on Wednesday. This isn’t considered quantitative easing though.

That Was a Quick Alt-Season

Seems like those who’ve been waiting patiently for the emergence of a new altcoin season are just going to have to wait a bit longer.

Many of the massive pumps that we saw yesterday have now turned into dumps. One of the most notable movers has been Stellar Lumens, which is set to airdrop about $2 billion worth of XLM. A move that probably should have sent it down but for some reason is experiencing some major lift. Even after a fair bit of retracement this morning, it is up nearly 36% in the last 48 hours.

I suppose it’s a bit similar to the way that the European Central Bank has rekindled their quantitative easing program last week but somehow the euro is rising as a result.

In any case, altcoins are extremely volatile right now and it will be interesting to see how this concludes.

As always, thanks a lot for reading. I always appreciate your daily comments, thoughtful questions, and excellent insights that you all are sending me. Have a wonderful day ahead.

Best regards,

Mati Greenspan
Senior Market Analyst


Connect with me on
eToro
Twitter
LinkedIn
Telegram

Your Social Investment Network – www.eToro.com

eToro (UK) Ltd is authorized and regulated by the Financial Conduct Authority. eToro (Europe) Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission. eToro AUS Capital Pty Ltd. is regulated by the Australian Securities and Investments Commission, ABN 66 612 791 803, AFSL 491139.

This is a marketing communication and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without having regard to any particular investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past performance of a financial instrument, index or a packaged investment product are not, and should not be taken as, a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared utilizing publicly-available information.

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework. Your capital is at risk.

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.




Follow Us on Twitter Facebook Telegram

Check out the Latest Industry Announcements
 

 

Submit a Press Release

Crypto Livewire – Press Releases

  • Student Coin Found New Ways to Use Crypto
    February 24, 2021
  • Everest Receives Crypto Custodian Approval
    February 23, 2021
  • Here’s How Traders Are Staking Crypto Assets Without the Hassle
    February 18, 2021
  • 99Bitcoins Takes Over the Dead Coins Project to Become the Cryptocurrency Undertaker
    February 17, 2021
  • Coinsbee Makes Spending Bitcoin Easy
    February 17, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$51,052.00
$51,052.00
2.48%
Ethereum
$1,634.70
$1,634.70
1.9%
Binance Coin
$257.93
$257.93
0.79%
Polkadot
$34.60
$34.60
0.13%
Cardano
$1.16
$1.16
10.74%
XRP
$0.475218
$0.475218
0.22%
ADVERTISEMENT

Spotlight

  • Max Keiser Unveils Massive Bitcoin Price Prediction, Says US Dollar in Hyperinflationary Collapse Against BTC
    February 18, 2021
  • ‘Big Short’ Investor Michael Burry Issues Warning on Future of Bitcoin and Gold
    February 22, 2021
  • Here’s Why Financial Advisory Giant The Motley Fool Is Investing $5,000,000 in Bitcoin
    February 19, 2021
  • SpaceX Is Exploring Benefits of Placing Bitcoin on Its Balance Sheet, According to MicroStrategy’s Michael Saylor
    February 23, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.