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Monat: März 2023

Bitcoin Surges Above $25,000: Ethereum Consolidates in Volatile Market

Posted on 17. März 2023 in Allgemein

• Bitcoin (BTC) rose back above the $25,000 level in today’s session, as market volatility eased.
• Ethereum (ETH) on the other hand was mostly in the red, with prices falling back below the $1,700 mark.
• The 14-day relative strength index (RSI) for both BTC and ETH remain at key levels of resistance that could prevent a breakout to higher levels.

Bitcoin Moves Briefly Back Above $25,000

Bitcoin briefly moved back above the $25,000 level on Thursday as markets rebounded from a volatile session in the previous day. This followed an intervention from the Swiss National Bank which helped to settle global markets following potential collapse of Credit Suisse.

Ethereum Consolidates

Ethereum mostly consolidated during this session with prices falling back below the $1,700 mark reaching an intraday low of $1,616.63. This resulted in a break out of a key resistance point at $1,675 and further prevented any possible breakout to higher levels.

Relative Strength Index (RSI)

The 14-day relative strength index (RSI) for both Bitcoin and Ethereum remains at key points of resistance that could prevent any opportunity for a breakout to higher levels. In Bitcoin’s case this is currently tracking at 62.54 slightly below 65 whilst Ethereum’s RSI is currently 56.90 just below 60 which remains its main obstacle preventing it from climbing back up towards a recent high above $2600.


Overall Bitcoin is now trading 15% higher than it was last week and Ethereum also has seen some gains but remains well off its own recent high due to multiple obstacles that are preventing any breakout attempts for both cryptocurrencies being successful so far.


In conclusion this update provides an overview on how both Bitcoin and Ethereum have been performing recently with regards to their respective Relative Strength Index readings as well as how they have been trading over this past week compared to one another showing that while Bitcoin has had more success in terms of price performance since last week Ethereum still has room left before it too can reach similar heights again soon if investors continue to remain bullish on these two cryptocurrencies going forward into 2021 and beyond..

Russia and India Challenge Dollar Dominance in Oil Trade

Posted on 9. März 2023 in Allgemein

• India and Russia have started to settle oil deals in other currencies, putting the U.S. dollar’s dominance in the international oil trade under pressure.
• Sources have reported that the transactions between India and Russia amount to several hundred million dollars over the last three months.
• An economist at the U.S. State Department commented on these moves, saying they are only “transitory gains” that won’t have much effect on Western sanctions.

India-Russia Oil Deals Chip Away at Dollar Dominance in International Trade

Reuters reported that Western sanctions on Russia and oil trading between Moscow and India have started to erode the dollar’s decades-old dominance of international oil trade by settling oil deals in other currencies.

Transactions Amounting to Several Hundred Million Dollars

Oil traders and banking sources informed Reuters that Indian customers are paying for Russian oil entirely in non-U.S.-denominated fiat currencies, such as UAE dirhams, over the last three months accounting for “several hundred million dollars” in transactions between both countries.

BRICS Nations Undermining US Dollar

Analysts and economists from Brazil, Russia, India, China, and South Africa (collectively known as BRICS nations) suggest that these countries are attempting to undermine the U.S dollar by settling more trades outside of it.

Short-Term Efforts with Transitory Gains

Former chief economist at the U.S State Department Daniel Ahn commented on these moves stating they are only short-term efforts with transitory gains that won’t affect western sanctions much: „Russia’s short-term efforts to try and sell things in return for currencies other than the dollar are not a real threat to Western sanctions,“ Ahn said in a statement

US Dollar Still Dominant

Ahn also added that despite this move away from using US dollars as currency for international trades, its strength is still unmatched: „The dollar’s strength is unmatched,“ he said

Fed Fights Inflation or Risk Complete Economic Collapse: Economist Peter Schiff

Posted on 1. März 2023 in Allgemein

• Economist Peter Schiff has warned that the Fed could be fighting a “complete economic collapse”.
• He stressed that now „we’re going to see accelerating inflation,“ as measured by government indexes.
• Schiff noted that higher interest rates alone won’t be enough, and both consumer credit and government spending need to be cut back.

Peter Schiff Warns of Potential Economic Collapse

Economist Peter Schiff has warned that the U.S. Federal Reserve may face something it fears even more than fighting inflation: a complete economic collapse, another financial crisis or a sovereign debt crisis. In an interview with Greg Hunter on the USAWatchdog show, published Saturday, he said recent economic data shows „we’re going to see accelerating inflation“ and that higher interest rates alone won’t be enough to tackle it.

Inflation on the Rise

Schiff highlighted that the personal consumption expenditures price index rose 0.6% in January, stressing that this shows „the months of declining inflation are in the review mirror.“ He asserted if the Fed is serious about fighting inflation, then it needs to fight harder than it already has; rates must go up significantly and consumer credit needs to contract with lending standards rising so consumers can’t keep spending.

Consumers Need to Stop Spending

The economist also stated people need to stop spending money and instead focus on working, producing and saving if they want prices of goods and services not to rise further due to money being injected into the economy from consumer credit.

Government Spending Needs To Be Cut Back

In addition, he emphasized that the federal government needs to get its own spending problem under control with significant cuts in order for true measures against inflation — such as higher interest rates –to work effectively without having their effects offset by excessive injection of money into circulation through government spending programs..

Fed May Throw in The Towel

Schiff predicted ultimately the Fed will throw in the towel on its fight against inflation as it faces something even more worrying — a complete economic collapse or financial crisis — forcing them back into quantitative easing measures which can cause further problems down the line for households and businesses alike.