The current cryptocurrency market is in a state of flux, with different coins rising and falling on the exchange. Despite this uncertainty, there are some catalysts that could drive the market to new heights or push it down even further.
The “crypto news” is a website that provides cryptocurrency related news. The site has been around since 2013 and the main focus of the site is to provide investors with relevant information.
The Pomp Letter: Crypto Equities: One of the Most Overlooked Sectors: Although we refer to them as “blockstocks,” the concept is the same. Stocks have a blockchain connection, such as:
- Coinbase is a cryptocurrency exchange (COIN)
- MicroStrategy is a company that specializes in micromanagement (MSTR)
- Silvergate Capital is a private equity firm based in New (SI)
- Mining Hut No. 8 (HUT-CM)
- Blockchain Riot (RIOT)
Investor takeaway: Since you won’t be able to purchase bitcoin with your retirement funds, consider investing in “block stocks,” which are closely linked to cryptocurrency markets. (Don’t forget to diversify, diversity, diversify.)
The top “Block Stocks” and the general crypto market have a strong correlation. (More associated = higher.) COIN, MSTR, SI, MARA, HUT, RIOT, HIVE, BITF, BRPHF, ARBKF, from top left: COIN, MSTR, SI, MARA, HUT, RIOT, HIVE, BITF, BRPHF, ARBKF. (Photo credit: The Pomp Letter)
We should all be very aware with how phishing schemes operate by now, right? …
A would-be fraudster constructs a website that seems to be genuine, such as an Amazon or PayPal login page, and then gives the user a link instructing them to do a certain action.
The victim is essentially at the hacker’s mercy after they input their login and password onto the false page.
Built-in browser wallets, like as MetaMask, seem to be vulnerable to this sort of attack as well.
In this thread, Preethi Kasireddy, a well-known tech magnate, reveals how hackers monitor Etherscan for your pending transactions and then show up a message saying your transaction was denied, only to follow up with a password request if you attempt the transaction again.
Because MetaMask stores your private keys in your browser, there seem to be a plethora of methods for hackers to get access to them.
Indeed, while doing research for today’s newsletter, I came across numerous different phishing tactics that target even the most skilled users.
I would suggest keeping the number of open tabs on your browser to a minimum while using any online wallets as a general rule.
Any website you visit while logged into MetaMask has the ability to obtain your personal information.
Also, avoid storing huge sums of cryptocurrency in online wallets. When utilizing them for utilitarian reasons, I have a propensity to just save little quantities.
Time to taper
As I write to you today, there is some breaking news from the Federal Reserve of the United States.
In a nutshell, the Federal Open Market Committee has announced that it would lower its monthly bond market injections by $15 billion. They will only purchase $105 billion every month in the future.
They were also cautious to state that they would respond to the data and, if required, raise the amount.
Investors were blown away by the ultra-dovish tightening measures, and equities soared to all-time highs after the announcement.
Bitcoin also fell, likely due to investors who noticed the tightening but aren’t experienced enough to appreciate the nuances of a Fed marching in two directions at the same time. Notably, bitcoin recovered its entire loss within minutes of the news.
On the left, we can see the short-term responses of bitcoin, and on the right, the S&P 500 stock index. One minute is allotted for each candlestick.
Ether has just reached a new all-time high. Simply stunning.
For further thought,
Central bank digital currencies are being developed in countries all over the globe (CBDCs). The eNaira, Nigeria’s CBDC, was the subject of the most recent high-profile leak.
Analyst Wonder Godzo recently spoke with the CEO of Bitt Inc., a FinTech startup that helped build the eNaira.
Click here to learn more about this topic.
This is why it’s critical to do your own research.
What a wonderful doge. To see the birthday video, click here.
The “fx empire crypto” is a news aggregator website that provides the latest information about cryptocurrency. It’s main focus is on Bitcoin, but it also covers other coins as well.
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