Economy – Page 17 – Ƀitsell X

Central African Republic Reportedly Launches Crypto Coin, Bitcoiners Slam Move

July 6, 2022

Central African Republic (CAR) president Faustin-Archange Touadera announced recently that cryptocurrencies are an alternative to cash. Bitcoiners, however, insist the top cryptocurrency is the only solution to the CAR’s money problems. Formal Economy Not an Option Central African Republic president Faustin-Archange Touadera has said cryptocurrencies are an alternative to fiat cash. Touadera also claimed that…
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Ethereum price breaks out as ‘bad news is good news’ for stocks

June 25, 2022

Ether has rebounded by nearly 40% in the last six days despite persistent “bull trap” risks. Ethereum’s native token, Ether (ETH), gained alongside riskier assets as investors assessed weak U.S. economic data and its potential to cool down rate hike fears. Ether mirrors risk-on recovery ETH’s price climbed up to 8.31% on June 24 to…
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On the brink of recession: Can Bitcoin survive its first global economic crisis?

June 23, 2022

Bitcoin has not seen a full-blown recession since it was launched as a response to the 2008 global financial crisis. Bitcoin (BTC) was a response to the 2008 global recession. It introduced a new way to transact without depending on trust of third-parties, such as banks, particularly failing banks that were nevertheless bailed out by…
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Why the crypto market crash may play in Bitcoin’s favour

June 20, 2022

Podcaster and Bitcoin educator Natalie Brunell believes the current market turmoil could lead to regulation favoring Bitcoin over alts. Natalie Brunell, the host of Coin Stories podcast, thinks that the recent incidents involving Terra (LUNA, now rebranded LUNC) and Celsius (CELH) and the following market sell-off will lead to regulatory action that will likely favor…
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Sweeping layoffs, hiring and firing as crypto prices take a massive downturn

June 18, 2022

Brutal economic conditions coupled with dramatically falling crypto prices have led to massive layoffs within the blockchain industry. Many in the crypto world have been glued to their screens with eyes dead set on financial conditions this week. That isn’t the case for everyone though, as thousands are suddenly experiencing thewoes of sudden unemployment. Words of…
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JPMorgan Economist Expects the Fed to Hike Benchmark Rate by 75 bps as Global Markets Bleed

June 14, 2022

The U.S. Federal Reserve is expected to raise the federal funds rate during its next meeting on Wednesday and JPMorgan economist Michael Feroli believes that rising inflation will push the Fed to increase the rate by 75 basis points (bps). Last week, CME Group data indicated the market priced in a 95% chance that the…
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The Fed’s Christopher Waller Wants 50 bps Rate Hikes Until Inflation Subsides, US Savings Data Plummets

May 30, 2022

Federal Reserve governor Christopher Waller has detailed he is ready to get behind 50 bps rate hikes until the extreme inflationary pressures plaguing the U.S. economy subsides. Waller stressed that until inflation is reduced he doesn’t “see the point of stopping” 50 bps rate hikes. Furthermore, statistics from the U.S. Bureau of Economic Analysis show…
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Billionaire Investor Bill Ackman Says Unless the Fed Aggressively Hikes Rates, Stock Market Could Crash, ‘Catalyzing an Economic Collapse’

May 25, 2022

Billionaire hedge fund manager and founder of Pershing Square Capital Management, Bill Ackman, believes “inflation is out of control.” The investor thinks that if the Federal Reserve “doesn’t do its job” by applying “aggressive monetary tightening,” the U.S. economy could collapse. Pershing Square Founder Bill Ackman Thinks ‘Inflation Is out of Control’ While the headlines…
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Survey Shows 87% of Americans Are Stressed About Inflation and Rising Costs of Everyday Goods

May 21, 2022

As the consumer price index (CPI), a measure of prices for goods and services, hit another all-time high in April reaching 8.3%, Americans are stressed out more than ever about inflation and money. A recent survey published by the American Psychological Association shows that 87% of U.S. residents say inflation on everyday items has driven…
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Erratic Bond Yields, Lockdowns, and War — 3 Reasons Why Economic Recovery Won’t Happen Quickly

May 10, 2022

The global economy looks bleak as inflation continues to rise, and a wide array of financial investments continue to shudder in value. Since May 2, 2022, the crypto economy has dropped more than 15% from $1.83 trillion to today’s $1.54 trillion. The price of gold has lost 5% in 30 days, and major stock market…
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Category: Economy