Bitcoin soars as the Federal Reserve raises the key interest rate by 75 basis points.

Inflation has probably been the most significant difficulty confronting the present administrations of most nations throughout the world; in the case of the United States, the Federal Reserve has been on the lookout for ways to counteract the country's 40-year high inflation.

The US Federal Reserve stated on Wednesday that it will raise interest rates by 75 basis points to 2.5 percent in order to combat the country's ongoing rise in food, fuel, and housing prices, which are emptying Americans' purses.

Although the Fed's decision on Wednesday was not predicted, market pricing had risen by 75 basis points ahead of the Fed's announcement. Prior to this, investors had priced in a one-in-four probability of 100 basis points; however, this had been priced out earlier in the week.

"Inflation has clearly surprised to the upside during the last year, and more surprises might be on the way."

According to Federal Reserve Chair Jerome Powell, the central bank might contemplate "an even greater" raise if needed in the future.

The Fed's action is also part of efforts to avert a recession that is expected to slam global markets shortly.


Continue Reading: https://mycryptoparadise.com/bitcoin-soars-as-fed-raises-key-interest-rate-by-75-basis-points/

What do you guys think is the best crypto signals group on Telegram?

Through its new partnership, Hyosun America will enable Bitcoin purchases in over 175 ATMs across the United States.

Hyosun America, the largest ATM manufacturer in the United States, has entered into a new partnership agreement with DigitalMint, Bitcoin's leading Proof-of-sale provider, to make Bitcoin available for purchase in more than 175 ATMs across the country.

“We’re looking forward to working with Hyosung America to make cryptocurrency services easily and safely accessible to their 175,000 deployed ATMs in the United States and beyond,” said, Don Wyper, chief operating officer of DigitalMint.

Continue Reading: https://mycryptoparadise.com/hyosun-america-to-enable-bitcoin-purchase-in-over-175-atms-in-america-through-its-new-partnership/

I'm gradually losing faith in its long-term viability.


What are your thoughts on this?

The price and, ultimately, the charts on any given exchange are determined by the price of the most recent transaction. How can the prices of 100s of cryptos all move in the same direction at the same time?

The US Treasury Department sent President Biden a regulatory framework for interagency engagement with foreign counterparts when dealing with digital assets on Thursday.

The Treasury Department created the fact sheet in response to President Biden's Executive Order on "Ensuring Responsible Development of Digital Assets" issued on March 9, 2022.


Source/Continue Reading: https://mycryptoparadise.com/us-treasury-develop-framework-for-crypto-international-engagement/

Duke Energy, a top US energy company, is reportedly looking to explore Bitcoin mining as part of its plans to integrate its demand response strategy.

In a tweet by Duke Energy’s lead rates and regulatory strategy analyst Justin Orkney on June 4, he shared notes on electrification of transportation and decarbonization of the electric power grid through Bitcoin mining.
In an earlier statement by Justin Orkey, he confirmed that Duke Energy is currently studying Bitcoin mining, in fact, his crew is exploring how Bitcoin could solve the problems faced by the grid as renewable penetration increases. Grid imbalance and other problems will only worsen as we approach renewable targets.

Results of the study will show how to onboard miners on the grid before scaling up for the masses. The company leverages its micro-grid with different energy sources to conduct tests to measure the impact involving several levels of miners.

“We are exploring general customer phasing concepts … I’m working on a Bitcoin demand response study about including Bitcoin mining capacity in our system with an eye toward the demand response functionality … We are hoping to do a technology test.”

Continue Reading: https://mycryptoparadise.com/since-the-inception-of-the-current-market-downturn-the-crypto-community-has-been-witnessing-chaos-that/

Users of the crypto lending platform have finally felt some relief following Celcius Network's announcement that it has paid a total of $114 Million of its Bitcoin loan in the last 24 hours, lowering its liquidation price to $4,967

This means that the Bitcoin price must fall below $4,967 before Celcius is liquidated.


Source/Continue Reading: https://mycryptoparadise.com/less-anxiety-as-celcius-paid-114-million-of-its-bitcoin-backed-loan-in-24-hours/

The 4hr chart shows bitcoin hovering around the upper level of the bollinger band. This has resulted in rapid dumping of corn throughout 2022, so now is not the time to fomo.

How do you see the risk of cryptocurrency right now? Are you confident that cryptocurrency will recover, and when do you think that will happen?

What are your current opinions on the cryptocurrency market?

Whales simply use it as a playground. Even if there is a crash, you cannot rely on price movements. When there are liquidations for longs and shorts, the market takes a big swing to screw as many people as possible.

What do you think will be the bottom for Bitcoin, from which it will begin to recover? Another question is whether now is the best time to invest or whether waiting for more dump is advisable.

Cryptocurrency is currently collapsing. And the total crypto market cap is now less than $1 trillion.

The market is red, and every cryptocurrency is crashing. Is it better to wait for a further drop in Bitcoin and Ethereum, or would DCA be better?


What will happen next?

How long do you think the market will take to recover?

Will it be worthwhile to hold and trade LUNC, and will LUNA 2.0 regain trust and position?

What happens to the old LUNA 1.0 and its holders when the LUNA 2.0 is airdropped? and do you think it will be beneficial because most people have lost trust in them and lost all the investments

What is going on in the crypto market? The stable coins are no longer stable. The market is still in a bearish zone, but when things return to normal, and we'll see the bulls?

In my opinion, the Terra Team is to blame for the entire bloodbath. They should have taken a more pragmatic and responsible approach. Things have only gotten worse for the holders.

What are your thoughts on LUNA? What will happen in the next 24 hours? Will it go to 0 or up?