BRAZIL NPW RECOGNIZES CRYPTOCURRENCY AS A PAYMENT METHOD
The exciting news coming out of Brazil is giving bitcoin a nice little boost today, but we shouldn't get too happy because there are still significant equity market dangers that might bring everything else down. Right present, Bitcoin is an accepted form of payment in Brazil. This is exciting news because Brazil is one of the most populous nations and could be the source of today's slight increase in Bitcoin prices. Even while it may appear as though we are moving forward and backward in opposite directions, overall, we are heading in the right way.
Fidelity has formally opened retail Bitcoin trading accounts, which is also wonderful news. With over 30 million users, you can now trade Bitcoin and Ethereum in your Fidelity account. As we watch things develop in crypto, it might generate significant exposure to cryptocurrency and possibly pricing. It's fantastic news that more individuals will be able to purchase items with their Fidelity accounts because they have long been ardent supporters of Bitcoin.
Today, Bitcoin surpasses $17,000 before tumbling to roughly $16,800. Being green in the market after some challenging periods is exciting. On the 4-hour chart, we have at last surpassed the 50-period exponential moving average. On the daily chart, it will take some time for us to break beyond the 50-day exponential moving average, at which point the price will be around $17,800.
The inversion of the yield curve must be kept in mind, and investors must pay attention to it. The yield curve is extremely inverted at the moment and is at its highest level of investment since 1981. This type of yield curve inversion hasn't happened in almost 40 years, and typically, when the yield curve inverts, a recession follows. This is what typically occurs, thus it is likely that this is what will take place. We can see that experts at Deutsche Bank are still predicting a further 25% decline in the stock. The equity market is still suffering from a significant danger, but the true driver is the interest rate, which is still rising.
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