Bitcoin Steady Above $30,000 as China's Producer Price Index Suggests End of Global Liquidity-Tightening Cycle
Bitcoin remained stable above $30,000 on Monday as China's producer price index (PPI) data indicated that the global liquidity-tightening cycle, which began last year and affected cryptocurrencies, is coming to an end. China's PPI fell 5.4% YoY in June, the ninth consecutive monthly decline and the steepest drop in seven years, leading to deflationary pressures in the global economy.
Renowned Investor Jim Rogers Warns 'US Is Going to Suffer' as Dollar's Value Erodes Further
Jim Rogers has warned the US economy will suffer, with inflation and debt problems getting worse as the dollar falls. He pointed to the United States as the largest debtor nation in world history, and predicted that a fate similar to that of the British Empire might happen to the United States. While Janet Yellen argued that the U.S. dollar remains dominant, Rogers highlighted America's massive debt and soaring money printing. He also drew attention to the possibility of an alternative to the dollar and called on investors to protect their funds from the financial crisis. Other economists have also sounded warnings about inflation, the debt crisis and a weakening dollar.
Bloomberg Macro Strategist: Bitcoin May Face Recession Test in Next Six Months
According to a tweet from Bloomberg's macro strategist Mike McGlone, after a strong performance in the first half of the year, Bitcoin may face harsh recessionary conditions in the next six months. He said that Bitcoin's 84% gain in the first half of the year was about double that of the Nasdaq 100 and consistent in annual volatility (risk-adjusted). It's the second half of the year that may define the benchmark crypto as a high-beta version of the stock market or for its potential to be digital gold in a world going that way.
JPMorgan MD: Spot Bitcoin ETF Approval Won't Be Game Changer for Crypto Markets
JPMorgan managing director Nikolaos Panigirtzoglou believes that a Bitcoin exchange-traded fund (ETF) approval in the US would bring more liquidity to Bitcoin markets but would not have a significant impact on crypto markets overall. Despite limited investor interest in Bitcoin ETFs in other jurisdictions, BlackRock's CEO, Larry Fink, suggests that investors may turn to Bitcoin as a hedge against inflation and currency devaluation, leading to optimism for the success of BlackRock's Bitcoin ETF endeavor.
Former Coinbase Exec Loses Millions Betting on Inflation, New Platform Reports Lower Inflation Rates Than US Government
July 4 (Cointime) - Former Coinbase executive Balaji Srinivasan continues to bet on inflation, despite losing $1.2 million on his previous prediction that Bitcoin would surpass $1 million per coin due to inflation.
Central Bank Leaders Defend Monetary Policy Strategies at ECB Forum, Bitcoin and Ether Dip
June 28 (Cointime) - Central bank leaders including Federal Reserve Chair Jerome Powell, Bank of England Governor Andrew Bailey, ECB President Christine Lagarde and Bank of Japan Governor Kazuo Ueda defended their current monetary policy strategies at the European Central Bank policy forum in Portugal.
Brazilian Hospital Becomes First in the Nation to Accept Crypto Payments
June 26 (Cointime) - The Rolante Hospital Foundation (FHR) in Rio Grande do Sul, Brazil, has become the first hospital in the country to accept cryptocurrency payments. Patients can now use crypto to pay for medical bills, outpatient treatment, and medicine.
THE Price of Tomorrow Author Jeff Booth: Bitcoin Is the Unstoppable Solution to Inflation
June 26 (Cointime) -Jeff Booth, the author of "THE Price of Tomorrow", stated in an interview that inflation is theft, and the government is stealing from individuals at an unpredictable rate. He analyzes how Bitcoin is the only solution to the inflation paradox, with incentives and performance far superior to any asset or store of value in history. Think Bitcoin is impossible to block, nothing better than this.
Emerging Markets with High Inflation Dominate ETH Ownership, While Developed Countries Exercise Caution
June 23 (Cointime) - Turkey has the highest percentage of its population owning ETH, with most of the top-ranked countries being those with high inflation. CoinShares' research shows that only 14% of total ETH owners are from developed countries, while more than 75% of ETH nodes are concentrated in the developed world.
Bitcoin and Ethereum Prices Retrace as Bank of England Hikes Interest Rates to Tackle Inflation
June 22 (Cointime) - Bitcoin and Ethereum prices experienced a downturn following the Bank of England's decision to raise interest rates by 50 bps to 5% in an effort to combat inflation.
