Michael Stern, Author at bwcevent.com

About: Michael

Michael Stern is a calculated risk taker with deep technical insight into digital currency and the development of strategic strategies.

Articles by Michael Stern

Ransomware attack on Colonial Pipeline rubs off on Bitcoin

On May 7th, Colonial Pipeline Co. a US-based oil pipeline system was a victim of a ransomware attack allegedly orchestrated by the Eastern-European-based hacker group, DarkSide. It happened that the hackers requested the ransom be paid in cryptocurrency.  The CEO and president of Colonial Pipeline, Joseph Blount, Jr., announced a day after the attack that […]

The Week’s Big Event Is the Jobs Report for May

As the market enters the often weak month of June, the big event in the world of finance is the U.S. jobs report for May. May was anything but a stellar month, finishing with mixed performance. Both the Dow and Standard and Poor ticked up, with the Dow going up by 1.9 percent. The tech-heavy […]

Cryptocurrency Ends the Week in a Slump

To say the least, Friday capped what was an up-again, down-gain week for crypto. After China took a second swipe at Bitcoin in less than three days, traders were aggressively selling. At the end of the day, Bitcoin fell by 12 percent, Ethereum by 20 percent, and Dogecoin by 18 percent. The drop in the […]

The Growing Deficit in Washington is Driving Central Banks to Alternatives

For the fifth year running, the share of dollar-denominated assets in global foreign reserves sank to 59 percent. The last time the dollar sank to this level was a quarter-century ago. Amid concerns over prospects for the U.S. dollar, emerging economies, including Russia and China are diversifying holdings. Foreign governments have long seen U.S. Government […]

What Is Driving the Price of Bitcoin?

The last few weeks have seen the price of Bitcoin rise from just under $50,000 to just over $63,000. The crypto is currently priced at $57, 245 and seems to be moving upwards. The question begs, “What is driving the growth of Bitcoin?” Turns out there is more than one reason. Past Price Resistance Since […]