Amid earnings season and FOMC announcements, financial markets provided a series of important data points yesterday. While bitcoin’s price remained mostly rangebound, its interaction with the broader financial markets illustrated the increasing impact of macroeconomic events on bitcoin markets. Outside of digital currencies specifically, the latest earnings announcement from Western Union highlighted the regulatory difficulties that all US companies tied to money transmission are encountering. FOMC Reaction Bitcoin continues to react to macro stimuli. Yesterday’s FOMC announcement removed negative language from their economic outlook and indicated the Fed would not be immediately tapering asset purchases. Shortly after it was released, …
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Earlier this week, 250 bitcoin enthusiasts, venture capitalists, and entrepreneurs converged in London’s legendary Canary Wharf for Bitcoin London. Of those in attendance, more than 30 were from media outlets including Bloomberg, the Financial Times, the Guardian, Tech Crunch and others, according to Pamir Gelenbe, the conference’s organizer. “Innovation comes from the outside; it takes something from left field to change the system. Eventually the financial services sector will catch up,” Gelenbe told us. Given the innovators, financial professionals and media in attendance, Bitcoin London may have been an important step to that end. Opening the event was an address …
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Jul 4, 2013
Posted
Economics, Featured, News, Trading
Tagged Bitcoin London, gold, London, price, technical, Western Union
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