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Fibonacci retracement levels are key price levels that traders use to predict potential support and resistance areas where the price might change direction. These levels help identify where the market could pause or reverse before continuing in its original trend. Understanding the Fibonacci Tool The first thing you need to know about Fibonacci retracements is that they work best when the market is trending. Traders use them to find potential entry points during a retracement within an ongoing trend. Since Fibonacci retracement levels help anticipate future price movements, they are considered a predictive technical analysis tool. The main idea behind…

Are you looking for a way to grow your cryptocurrency holdings without actively trading? Or perhaps you need a loan but want to avoid traditional banks and their strict requirements. If so, crypto lending might be an excellent option for you. Crypto lending is an innovative financial service gaining popularity among investors and borrowers worldwide. It operates as a peer-to-peer lending system where individuals or institutions can lend or borrow cryptocurrencies like Bitcoin and Ethereum through decentralized platforms. This allows lenders to earn interest on their assets, while borrowers can access funds without selling their crypto holdings. In this guide,…

Some employees of the United States Agency for International Development (USAID) in Kenya have resumed work after former US President Donald Trump’s administration partially lifted a freeze on foreign aid funding. The decision comes as a relief to many who had been affected by the earlier suspension of funding. Shortly after assuming office, Trump had ordered a 90-day halt on foreign development assistance, a move that disrupted programs in several countries, including Kenya. The funding freeze raised concerns that thousands of Kenyan workers under USAID programs could lose their jobs if the situation was not reversed. Experts estimated that over…

Tiaty Member of Parliament, William Kamket, has claimed that Kenyans are being abducted as a consequence of criticizing President William Ruto’s government. Speaking in Baringo County on Friday, February 7, Kamket suggested that these abductions are a form of punishment against those calling for the removal of Ruto’s administration. His remarks appeared to confirm allegations that the state is involved in the abductions. According to Kamket, some Kenyans are attempting to oust the government through unconstitutional means, which, he claimed, has led to the state’s retaliation. “When you chant ‘Ruto Must Go’ and try to remove the president through illegal…

National Assembly Speaker Moses Wetang’ula has made it clear that he has no intention of resigning from his position following a High Court ruling on Friday, February 8. The court had declared that his dual role as both Speaker of the National Assembly and the leader of the Ford Kenya party was unconstitutional. However, Wetang’ula dismissed the ruling, insisting that he would continue serving in both capacities. The three-judge bench, comprising Justices John Chigiti, Lawrence Mugambi, and Jairus Ngaah, ruled that Wetang’ula could not legally hold both roles simultaneously. “The dual role is unlawful and unconstitutional. Once he became Speaker…

President William Ruto visited Isiolo County as part of his development tour in Kenya’s North Eastern region. During a ceremony for the County Aggregation and Industrial Park project, some residents disrupted the event by chanting slogans like “Ruto must go,” leading to a premature conclusion of his address. In response to the unrest, President Ruto attributed the disruptions to drug traffickers opposing his administration’s crackdown on narcotics in the area. He emphasized the government’s commitment to combating drug trafficking, particularly in Isiolo and Marsabit counties, and warned that foreign nationals involved in the drug trade would face deportation. Despite the…

In recent years, the Kenya Defence Forces (KDF) have benefited from tax exemptions on alcoholic beverages supplied to their canteens and messes through the Defence Forces Canteen Organisation (Defco). This initiative aimed to provide affordable drinks to military personnel. However, concerns arose when some of these subsidized products found their way into the civilian market, leading to complaints from local bar owners about unfair competition. In response to these concerns, the government reduced the supply of duty-free alcoholic beverages to Defco by 40% in 2022. This move was intended to curb the leakage of subsidized alcohol into the public market…

The Power of Compound Interest in Building Wealth When it comes to growing wealth and securing a strong financial future, one concept stands out above all others: compound interest. Often referred to as the magic of compounding, this principle can transform even small savings into massive fortunes over time. Whether you are an experienced investor or just beginning your financial journey, understanding how compound interest works can be the key to achieving long-term financial success. What is Compound Interest? At its core, compound interest is the interest earned on both your initial investment (also called the principal) and the accumulated…

As we progress through the 21st century, Artificial Intelligence (AI) continues to make a significant impact across various industries, including finance and technology. One of the most remarkable advancements in finance has been the rise of cryptocurrency. The fusion of AI with cryptocurrency has opened up new opportunities while also presenting complex challenges. Given how unpredictable and volatile the crypto market can be, the role of AI in predicting market trends has become an area of keen interest for traders, investors, and financial analysts. In this discussion, we explore how AI is reshaping cryptocurrency market predictions and enhancing financial decision-making.…

Crypto borrowing allows individuals to get cash or stablecoins without selling their crypto holdings. This is done through decentralized finance (DeFi) loans, which are becoming increasingly popular in the blockchain and cryptocurrency space. DeFi loans provide a way for crypto holders to lend their assets and earn interest while borrowers can use their crypto as collateral to secure loans. The entire process is powered by smart contracts, eliminating the need for intermediaries like banks or financial institutions. Understanding Crypto Borrowing Crypto borrowing is a financial strategy that enables users to access funds without selling their digital assets. Instead of liquidating…