By CCN Markets: The stock market is close to record-setting highs, yet one Wall Street strategist says don’t believe the Fed hype. UBS Group’s head of equity strategy, Francois Trahan, has a warning for investors – the Fed doesn’t pack quite the same punch as it used to. According to Trahan cited in CNBC, the “Fed Put” on the stock market, which Haas School of Business at the University of California, Berkeley describes as “strong accommodation following poor stock returns,” is no longer a reliable gauge. “When it comes to U.S. stocks, the Fed put is dead. In the past
At press time, bitcoin is still trading in the $ 6,400 range, and remains unchanged since our last price piece. The sideways movement is continuing for the time being, but $ 100 shorter than where it stood previously.
A few weeks ago, bitcoin was trading at $ 6,500. The price remained there for some time, and many couldn’t put their fingers on what was keeping the price stuck in place for so long. In fact, bitcoin even made a small attempt to reach $ 6,600, which it did, though the price quickly receded back to $ 6,500 without notice, and things went on as normal.
Bitcoin mining is booming in Iceland. Problem is, they don’t have enough energy to go around, and not everyone in the government is on board.
Mining bitcoin – the process of confirming transactions across the blockchain – is an incredibly energy-consuming process. To meet the computational demands needed to actually turn a profit from cryptocurrency payouts, miners require top-tier hardware and cheap energy.
Iceland provides the latter, but there isn’t enough for everyone.