The US dollar is edging higher on signals the Fed is nearing tapering bond buys. ADP’s NFP and the ISM Services PMI are set to rock markets. Oil extends its rise, cryptos move higher and AMC’s stock grabs attention with parabolic rises.
Crypto Trading Isn’t Banned: The Reserve Bank of India’s decision to remove a 2018 rule that forbid banks from facilitating cryptocurrency trades comes as a welcome relief for a community facing push-back from traditional lenders needed to help settle these deals.
Crypto Assets: The rising popularity of cryptocurrencies such as bitcoin is “of great concern,” according to Derville Rowland, one of the top officials at Ireland’s central bank.
Bitcoin Reports: A 31% plunge in the morning. A 33% surge in the afternoon. Such was the wild ride Bitcoin took investors on Wednesday, lopping off billions in value before comments from some prominent proponents helped propel it on a torrid rebound.
Bitcoin prices experienced some notable volatility today, dropping below $50,000 following a highly visible tweet from Elon Musk and then recovering.