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Cryptoglobe
Cryptoglobe
Deciphering the Fed: Last FOMC Meeting Minutes and Their Impact
3 days ago
Crypto七安
Crypto七安
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#热门话题 Is there any "312" this year? And will there be an eternal bull market after the spot ETF is passed? First, let’s review why “312” will appear in 2020? That is, on March 12, the price fell back from 8000u to about 4400u, and pin 3782u was inserted on the 13th. In two days alone, more than 630,000#btc#binance btc/usdt participated in the transaction. Frankly speaking, even if half of this amount is obtained based on the current market conditions, the market will not be able to sustain it. So what exactly triggered the violent panic and crashed the market? Some friends said that because of the epidemic, global assets have plummeted, including gold as a store of value. Not to mention US stocks, our big A. Is that the only one? At that time, there was no#btcETF at all. Let’s not talk about A shares. Everyone understands. Another big correlation is the U.S. stock market. In terms of timing, it happens that interest rates were cut since July 2019. By the beginning of 2020, the unemployment rate in the United States had increased significantly, and the U.S. economy was entering a recession. The recession coincided with the outbreak of the global epidemic, especially in China and the United States. Prior to this, the suspension of interest rate hikes began in early 2019, and both Bitcoin and the S&P 500 experienced sharp gains. However, the interest rate cuts began. As interest rates lowered, Bitcoin fell from a high of 13970, and the S&P 500 also fluctuated downwards. Only gold After fluctuating upwards until 312, BTC and S&P 500 both plummeted, and gold also fell (later the Federal Reserve released a big wave of water, and interest rates were adjusted to 0, as everyone knows). These two things happened at the same time, causing severe panic and creating 312. What a coincidence.

2 days ago
Cointelegraph
Cointelegraph
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Converting cryptocurrency to fiat has never been easy, so the recent collaboration announced between Web3 infrastructure firm Transak and credit card giant Visa is probably welcome news — particularly for users of crypto wallets like MetaMask, Ledger and Trust Wallet. As Cointelegraph reported in late January, “MetaMask users can now sell crypto directly to a Visa card.” Some 40 kinds of crypto can now be converted into local fiat currency at 130 million of Visa’s merchant locations across 145 countries. The numbers alone are daunting, but this may also be an inflection point. “Visa and Mastercard’s reengagement with the crypto sector marks a pivotal turn in the industry’s trajectory,” Antoni Trenchev, co-founder and managing partner at Nexo, told Cointelegraph recently. “It’s big news for people already using crypto to pay for things — now they have more options and, arguably, better options with how to make these types of payments,” Joanna Wasick, partner at law firm BakerHostetler, told Cointelegraph. That said, it wasn’t that long ago that Visa appeared to be stepping back from crypto. Almost exactly a year ago, Reuters declared that “Visa and Mastercard are slamming the brakes on plans to forge new partnerships with crypto firms” — though Visa later took issue with Reuters’ assertion. “This strategic recalibration is not surprising, even with Visa’s distancing itself from crypto a year ago,” said Trenchev last week. “With market uptake, especially with climbing Bitcoin prices, an approved Bitcoin ETF [exchange-traded fund] and an upcoming ‘halving,’ we’re witnessing the nascent stages of a bull market in crypto,” continued Trenchev. Visa and Mastercard don’t want to miss out, arguably. As dramatic and sudden as the announcement may have seemed, it is actually part of a larger process that has been going on for some time. “Visa’s decision to enable real-time card withdrawals is the latest step in the monetization of cryptocurrencies,” William Luther, associate professor in the Department of Economics at Florida Atlantic University, told Cointelegraph. A loss for centralized exchanges? Still, in a dynamic economy — where “creative destruction” is the norm — there are often losers and winners. What does this mean for centralized crypto exchanges like Coinbase and Binance? If Visa can convert a holder’s crypto directly into fiat, why does that individual even need a cryptocurrency exchange? “More users are choosing to directly engage with Web3 through decentralized applications rather than centralized exchanges,” or CEXs, Sami Start, co-founder and CEO of Transak, told Cointelegraph. Asked about the volume of recent crypto withdrawals to Visa cards, Start declined to provide segmented data, but he did say that the firm’s off-ramp transactions — including Mastercard and Visa transactions — “have experienced a growth of approximately 24.27% from December 2023 to January 2024.” Recent: CBDCs: User privacy problem or currency of the future? The threat to centralized crypto exchanges could be exaggerated, however. “The notion that this advancement might disadvantage CEXs and platforms is oversimplified,” said Trenchev. Visa and Mastercard’s involvement in decentralized finance (DeFi) is likely to promote broader cryptocurrency adoption — “which benefits the whole industry.” CEXs still have a play to role. They are “vital in scaling,” continued Trenchev, whose firm was a pioneer in offering a crypto-backed Mastercard in parts of Europe several years back. They provide a degree of reliability, accessibility and security that many DeFi platforms still don’t offer. He added: “The appeal of self-custody in DeFi is clear, but it comes with risks, such as lack of insurance.” Both DeFi and CEXs contribute to the growth of the blockchain ecosystem, Trenchev maintained, and “their successes are mutually beneficial.” Importance of network effects Clearly, there is much more discussion now about crypto as a medium of exchange, which was not the case in the depths of the crypto winter. The biggest hurdle that “would-be” monies face coming out of the starting gate is what economists call “network effects,” explained Luther. They’re not likely to be useful unless your trading partners are willing to use them, and at the outset, few parties are willing to do so, he said, adding: “Intermediaries like Visa have the potential to eliminate the network effect problem. By converting your preferred cryptocurrency on the fly to your trading partner’s preferred money, [they can make a new] medium-of-exchange much more useful.” Visa isn’t the first to take this step. Xapo began offering a Bitcoin (BTC) debit card in 2014. “But Visa supports more cryptocurrencies and boasts a very big network. That’s a big deal,” added Luther. Trenchev seconded this notion that traditional financial firms, including the credit card giants, have been building salients into the crypto world for some time. In 2021, Mastercard purchased CipherTrace — a leading cryptocurrency intelligence company — to enhance its crypto capabilities, while in June 2023, Mastercard announced its Multi-Token Network, an initiative “designed to make transactions within the digital asset and blockchain ecosystems secure, scalable and interoperable,” according to the firm’s executive vice president Raj Dhamodharan. We’re introducing Mastercard Multi-Token Network to make transactions within this ecosystem secure, scalable and interoperable as part of our commitment to support the wider #digital asset industry. https://t.co/Vb1JtnSTjx#blockchain pic.twitter.com/MwkkxbyAuk — Mastercard News (@MastercardNews) June 29, 2023 Visa began supporting the Circle’s USD Coin (USDC) in certain Visa cards in 2020 and followed up in September 2023 by supporting USDC payments settled on the Solana blockchain. Building new connections is what such firms are designed to do. “The core strategy of the payment rails like Visa and Mastercard is to be the network of networks, penetrating any and all venues where exchange takes place,” Lex Sokolin, managing partner at venture capital firm Generative Ventures, told Cointelegraph. “Integrating into the networks of Web3 is the most natural thing for these companies,” said Sokolin, “even less ‘risky’ than it is for asset managers to sell crypto as an investment product.” The question is no longer whether crypto will be a part of mainstream payments and financial services, but rather, how big a part crypto will play, Wasick observed, adding: “So while crypto might still be a relatively small part of payments and financial services — as compared to cash, say — crypto’s dent is getting deeper.” Betraying core principles? Much work still awaits. Some worry about security or loss of privacy. Others fear a growing trend toward financial centralization, which crypto was designed to counter. There are also compliance and tax questions. “I think the primary reason why crypto holders — at least American holders — balk at using crypto for payments is the same as it has been for years: United States tax law,” said Wasick. People don’t want to have to think about tax ramifications every time they purchase a cup of coffee. “But doing it directly with a payment platform like Visa is arguably easier than prior payment methods.” Some crypto purists may view the entry of credit card giants into the space as a further betrayal of the original promise of Bitcoin and other cryptocurrencies for decentralized money beyond the control of any single party, company or government. Luther gave voice to something along these lines. While welcoming the support of Visa and Mastercard, “I also think it is important to recognize the shortcomings.” Yes, they will make it easier to use cryptocurrencies to buy things, “but they do so at the expense of some of crypto’s promise.” More specifically: “They tend to reduce — and, in some cases, completely eliminate — the financial privacy and censorship-resistant features of cryptocurrencies.” Those features are important, Luther added, and he hopes that future developments “will make it easier to use cryptocurrencies in routine transactions while preserving a high degree of anonymity.” Instilling confidence? Finally, what does all this mean in terms of adoption? Crypto adoption is still relatively low — at least as a percentage of the world’s population. And those who own it are often “just holding cryptocurrencies in hopes of price appreciation,” Luther added. But there is another way of looking at things. In this view, crypto is already a part of mainstream payments and financial services. “Some institutional investors hold cryptocurrencies. We have access to crypto futures and ETFs,” said Luther, and a soaring number of payment apps are making sending and receiving cryptocurrencies easier than ever. Related: Is a US stablecoin bill just around the corner? Visa’s new collaboration is also significant because of the impact that it could potentially have on people who, until now, have been hesitant to embrace cryptocurrencies — i.e., not just current wallet holders. The giant credit card companies could give crypto fence-sitters the confidence to act. If so, a sort of virtuous cycle could emerge because as “people become more comfortable with payment solutions, those solutions become more ubiquitous,” said Wasick. “There’s still a long way to go,” Luther summarized. “But cryptocurrencies have come a long way already.”

3 days ago
Cryptopolitan
Cryptopolitan
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Over the past year, there have been like a thousand headlines about BRICS coming for the dollar, and dethroning it. Under the guidance of China’s Xi Jinping and Russia’s Vladimir Putin, BRICS has taken a lot of direct jabs at the United States government. We all know the part the country plays in our global economy and trade. But the BRICS truly believe that they don’t it, nor do they need the dollar. And so they have been actively doing everything they can to ditch America for good. So far, there haven’t been any real response from the American government. But that might just be because Joe Biden is demented and probably has no idea what’s even going on. The Congress, of course, have said they are not worried about BRICS or their little plans. However, here comes the Federal Reserve. Apparently, it has plans for BRICS. Whatever might they be? The Federal Reserve’s Perspective on BRICS To be perfectly clear, BRICS’ approach doesn’t just aim at kicking USD to the curb. The bloc is getting ready to launch its very own new currency whilst also promoting the use of their own national currencies for cross-border transactions. As China persuades developing nations to conduct trade in the Yuan and Russia encourages settlements in the Ruble, India has also entered agreements with 20 developing countries to facilitate trade payments in the Rupee. However, Christopher Waller, a distinguished member of the Federal Reserve Board of Governors, has boldly asserted that the US dollar is far from losing its status as the primary reserve currency globally. Despite the growing discourse on the potential decline of the dollar due to BRICS’ maneuvers, he said he is confident in the dollar’s enduring dominance in trade and finance. According to Waller, the dollar’s share of global reserves stood impressively at 60% in 2022, dwarfing the Euro’s 20% share, its biggest competitor. A New World Order or a Risky Gambit? Meanwhile, amidst discussions about the potential for a new global financial order led by developing nations, a group of scammers introduced a deceptive venture under the guise of a groundbreaking opportunity. They announced an Initial Coin Offering (ICO) for a cryptocurrency, deceitfully branded as the BRICS cryptocurrency. This move capitalized on the anticipation surrounding the BRICS alliance and its perceived challenge to the current global financial system. The scheme was propagated through various social media channels, notably Telegram, where the fraudsters actively engaged with potential investors. They targeted individuals from developing countries, luring them with the prospect of being part of a significant shift in the global economic landscape. The scammers promised lucrative returns, alongside enticing offers such as airdrops of XLM tokens and substantial cashbacks, to seduce people into investing in their counterfeit cryptocurrency. Many people were encouraged to invest in the ICO by the prospect of financial advantages and the opportunity to be a part of a new, more fair financial age. However, the reality soon came crashing down. The so-called BRICS cryptocurrency turned out to be nothing more than a facade. Once the scammers had stolen a huge amount of money from unsuspecting investors, they abruptly ceased all communications. They deleted their Telegram channel and other social media accounts, effectively disappearing without a trace.

4 days ago
Binance OTC
Binance OTC
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  After passing $51,000 last Wednesday, Bitcoin encountered strong resistance at $53,000 and is currently trading sideways in the $51,000 to $53,000 range. While Bitcoin struggles to gain another leg up, the altcoin space is brimming with strong performers. The recently released text-to-video model Sora by OpenAI reignited market interest in artificial intelligence (AI). Worldcoin ( $WLD ), founded in 2019 by Sam Altman, Max Novendstern, and Alex Blania, is one of the winners following the product's release. Sam Altman is also the CEO of OpenAI. WLD prices increased from $3.50 to $7.80 in only four days following the introduction of Sora. Livepeer ( $LPT ) has also benefited from Sora's introduction. Livepeer is a decentralized live video streaming network protocol that leverages decentralized technology to provide a viable alternative to traditional, centralized broadcasting methods. LPT's market capitalization nearly tripled in two days following the news, and it now trades at $15.Prom ($PROM) also had a volatile week, with a more than 90% increase in a few hours after DWF Labs CEO Andrei Grachev publicly confirmed his personal investment in the project. Prom is a gaming non-fungible token (NFT) marketplace and rental platform that allows for uncollateralized rentals of NFTs and mortgage services. Overall Market The above chart shows the BTC price movement since December 2021.As we discussed last week, BTC faces significant resistance above $53,000, as shown by the red zone. If BTC overcomes this resistance level, there will be no significant resistance until it reaches $59,000. As a result, the bears will try to defend this resistance level as much as they can.While BTC has been trading sideways over the last few days, inflows from Bitcoin spot ETFs remain strong. A constant $300 to $500 million in net inflows to Bitcoin ETFs per day demonstrates the high demand from investors for risk exposure to bitcoin.However, the Bitcoin price has increased by 35% last month, rising from $38,500, the lowest level since the FTX bankruptcy estate liquidated $1 billion of GBTC, to $52,000. It's not surprising that investors and traders are rotating their capital from Bitcoin to other altcoins. This capital rotation is completely normal given BTC’s significant price movement. The above chart shows the ETH/BTC price movement in the last two weeks. After Bitcoin surged and passed $51,000 last Wednesday, our desk noticed a strong demand for Ethereum. In the last seven days, the ETH/BTC price has increased from 0.0531 to 0.0572, with ETH outperforming BTC.Our desk expects this upward trend in ETH/BTC to continue in the coming weeks, as the ETH network will have the long-awaited Dencun upgrade in March.Another factor contributing to the ETH price's outperformance is the potential approval of an Ethereum spot ETF. Currently, the market expects the SEC approval in May. Options Market The above table shows the at-the-money implied volatility for BTC and ETH options with different expiries.While the implied volatilities for BTC options are all above 50%, they stay at the same level as last week. On the other hand, the implied volatilities for ETH options are around 60%, except for the 30-day expiry one.With a large difference in IVs between ETH options and BTC options in the front end, it seems options traders are buying ETH options and pushing the options in the front-end tenor to be higher. It signals that a potential large movement in ETH price in the next few days is priced in the options market.It will be interesting to monitor the IV on ETH near-term options and see if it retraces to the normal range soon. As the bulls failed to hold their ground and keep the ETH price above the $3,000 critical level, our desk expects to see both bulls and bears push forward and crash on the other side.Given the high IVs on ETH front-end options, selling covered calls and covered puts can yield nice returns. For example, selling an ETH-3000 call expiring March 1 will collect an 86.4 USDT premium, a 119% annualized yield, with a spot reference of 2940 USDT. Macro at a glance  Last Thursday (2024-02-15)In January, US retail sales fell 0.8% month on month, more than the expected 0.2% drop. The retail sales growth rate in December was revised to 0.4% from 0.6%. Core retail sales fell 0.6% on a monthly basis in January, compared to the expected 0.2% increase.US initial jobless claims remained in the low range, with 212k new claims reported last week, slightly exceeding the expected 219k.British retail sales increased by the most in nearly three years in January as consumers regained their appetite for spending, implying that the economy could recover more quickly than expected from its recession in the second half of last year. Retail sales increased by 3.4% in January, far exceeding the estimated 1.5% increase and December's 3.3% decrease.Last Friday (2024-02-16)The US PPI increased by 0.3% on a monthly basis in January, surpassing both the previous month's -0.1% and the estimated 0.1% increase. The rising PPI will put upward pressure on inflation and could lead to a later rate cut by the Fed.According to Statistics Canada, Canada's CPI fell to 2.9% year on year in January, down from 3.4% the previous month. This reading came in lower than the market's expectation of 3.3%. On a monthly basis, the CPI remained unchanged, despite the expected 0.4% increase. The annual Core CPI increased by 2.4% during the same period, down from 2.6% in December.  The disinflationary numbers in Canada raise the possibility of an early rate cut by the Bank of Canada.On Tuesday (2024-02-20)China's central bank cut the 5-year loan prime rate by 0.25 basis points to 3.95%, while leaving the 1-year rate unchanged at 3.45%. This rate cut is regarded as the latest effort to relieve pressure on the country's struggling real estate market. Convert Portal Volume Change The above table shows the volume change on our Convert Portal by zone. This week our desk observed massive trading demand on AI and Fan Token zones. The impressive 374.5% volume increase in the AI zone is mainly due to the strong demand for Worldcoin ( $WLD ). The newly released OpenAI product Sora renewed the market's enthusiasm for Worldcoin, an iris biometric cryptocurrency project founded by Sam Altman, OpenAI's CEO.The trading volume in the Storage zone also doubled. The main drivers of increased demand are Arweave ($AR) and Filecoin ($FIL). Filecoin ($FIL), a peer-to-peer file storage network, announced on Sunday that it will collaborate with smart contract platform Solana (SOL) to develop decentralized blockchain storage solutions. The announcement caused Filecoin to rise from $5.8 to $7.4 in three days. Why trade OTC?   Binance offers our clients various ways to access OTC trading, including chat communication channels and the Binance OTC platform (https://www.binance.com/en/otc) for manual price quotations, Algo Orders, or automated price quotations via Binance Convert and Block Trade platform (https://www.binance.com/en/convert) and the Binance Convert OTC API.  To access manual price quotations, you may visit our Binance OTC platform (https://www.binance.com/en/OTC-Trading/spot), where you can RFQ (request-for-quote) and trade directly with our OTC trading team via a live chat. To utilise our Algo orders features, you may visit our BinanceAlgo Orders platform (https://www.binance.com/en/OTC-Trading/AlgoTrading).  For any other inquiries on OTC trading, please reach out to us via our email at trading@binance.com for our trading desk to get in touch with you and get started.  OTC trades may also be automatically quoted on Binance Convert and via API, offering users a quick and simple way to execute trades across 60,000+ pairs with one simple click. Binance Convert supports over 350 tokens listed on the exchange including fiat pairs. Begin trading from as little as 1 USD. To start, simply navigate to the Binance Convert & Block Trade platform (https://www.binance.com/en/convert), select the coins you wish to trade, preview and confirm the quote with settlement reflecting almost instantly in your wallet balance. For details and access to Binance Convert OTC API, please refer to our Convert Endpoints (https://binance-docs.github.io/apidocs/spot/en/#convert-endpoints) and reach out to us at trading@binance.com if you have any questions or require assistance. Visit Binance OTC (https://www.binance.com/en/otc) for more information on our OTC products and solutions.  Experience the main benefits of Binance Convert and OTC Trading:  Fast & Competitive Pricing Instant settlement Widest availability of coins Bespoke service with unique market insights Zero fees and slippage  Email: trading@binance.com  Join our Telegram (https://t.me/BinanceOTC) to stay up to date with the markets!

4 days ago
CryptoGlobe
CryptoGlobe
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The prospect of a smooth transition, or “soft landing” for the U.S. economy seems increasingly unlikely, according to Torsten Sløk, Chief Economist at Apollo Global Management, with his words coming shortly after hotter-than-expected inflation data in the country poured cold water on hopes the Federal Reserve would cut interest rates in March. During an interview, as Business Insider reported, Sløk shared a shift in his outlook, now believing there’s a greater than 50% chance the U.S. will face a “hard landing or no landing” at all, moving away from the previous scenario he believes in, of a gentle economic deceleration. This change in perspective comes as new economic indicators emerge. Despite previously advocating for a soft landing, Sløk’s view has evolved with the latest economic data that indicates financial conditions have shown signs of easing, with a surge in high-yield and investment-grade bond issuance, a rejuvenation in the Initial Public Offering (IPO) market, and an uptick in mergers and acquisitions activity. These factors have contributed to a stronger job market, highlighted by a robust January jobs report that added 353,000 jobs. Moreover, recent data on GDP growth and consumer spending have exceeded expectations, indicating a potentially reinvigorated economy. However, Sløk cautioned against optimism due to the delayed impacts of the Federal Reserve’s interest rate hikes, which have started to cool consumer spending and corporate borrowing, significantly affecting areas like commercial real estate by making loans more expensive. As reported, the cryptocurrency market saw its total capitalization drop by over $60 billion after the  core consumer price index (CPI) in the U.S., which leaves out food and energy prices, rose 0.4% from December, exceeding forecasts and marking the highest increase in eight months, government data showed.  The data has further dampened expectations of an imminent interest rate cut by the Federal Reserve. Any resurgence in inflation could even spark discussions about resuming rate hikes as policymakers have emphasized the need for broader price stability before considering reductions. Bitcoin’s price had recently surpassed $50,000 as the spot Bitcoin exchange-traded funds (ETFs) launched in the US last month keep on attracting inflows. Data shows that these ETFs have, since launch, brought n roughly $3 billion in net flows, even with the Grayscale Bitcoin Trust, which recently converted into a spot ETF, seeing over $6 billion of outflows. As reported, over the past week cryptocurrency investment products attracted $1.11 billion in inflows, with Bitcoin-focused products making up 98% of total inflows at over $1 billion. Products offering exposure to Ethereum ($ETH) and Cardano ($ADA) also stood out. Featured image via Unsplash.

11 days ago
Cryptopolitan
Cryptopolitan
followers

Settle in, guys. I’m afraid I’ve got some terrible news. Our central banks, those institutions that keep the global economy on a somewhat even keel, are now showing signs that they’re about to throw us all into an apocalypse. Gone are the days when global trends were the main drivers behind price outlooks. Now, it seems domestic drivers are in the driver’s seat, and they have no idea what they’re doing. Once upon a time, New Zealand led the way with its innovative approach to inflation targeting back in the early ’90s, and it looks like they’re about to break ranks again. With whispers of interest rate hikes as early as the end of February, the Land of the Long White Cloud could be signaling the end of monetary policy uniformity as we know it. Diverging Paths Across the globe, the story is much the same, with each central bank facing its unique set of challenges. The United States is wrestling with stubborn inflation and a labor market that’s surprisingly robust, leading traders to second-guess the Federal Reserve’s stance on easing up anytime soon. Meanwhile, the euro area, having narrowly dodged a recession, is seeing price pressures ease more quickly than anticipated, prompting calls for earlier rate cuts. The Swiss are betting on interest rate cuts next month, and the UK is stuck between a rock and a hard place with both a sputtering economy and high inflation. The International Monetary Fund (IMF) isn’t painting a rosy picture either, with its forecasts pointing to a diverging global economy: a brighter outlook for the US, gloomier for the euro zone, and downright dismal for the UK. As if to add salt to the wound, JPMorgan strategists are advising clients to hedge their bets by favoring US equities and the dollar, given the stark growth divide between the US and Europe. Down under, the Reserve Bank of Australia (RBA) and its Canadian counterpart are expected to maintain a more hawkish stance compared to their global peers. The plot thickens in Japan, an economy long haunted by deflation, which is now poised for its first interest rate hike since 2007. Fast forward a year, and traders are betting on lower benchmark rates in the US and Europe but a different story in Australia and Japan. A Tangled Web The central banks are walking a tightrope, trying to balance the risks of acting too hastily against the dangers of waiting too long. The European Central Bank (ECB) is particularly wary of making a U-turn that could signal they’ve underestimated inflation once again. This is not made any easier by the shifting drivers of inflation, with services and wages now playing a more significant role than manufacturing. In New Zealand, unexpected jumps in underlying inflation, despite a slowdown in tradable prices, have caught policymakers off guard. This scenario demonstrates a broader trend towards more localized, idiosyncratic monetary policies, moving away from the coordinated approach we’ve seen in recent years. The IMF’s recent updates offer a glimmer of hope, projecting a slight uptick in global growth for 2024, thanks in part to easing inflation and advancements in artificial intelligence (AI). However, the agency’s chief economist, Pierre-Olivier Gourinchas, cautions against complacency, citing ongoing geopolitical tensions and the potential for disruptions to global trade. The World Economic Forum’s Chief Economists Outlook echoes this sentiment, with a majority expecting global economic conditions to either weaken or remain unchanged over the next year. Despite some positive developments, the outlook is marred by continued financial tightness, geopolitical rifts, and the looming threat of geoeconomic fragmentation. The central banks’ next moves could either steer us towards stable growth or plunge us into economic turmoil. With so much at stake, the world watches and waits, hoping for the former but bracing for the latter.

6 days ago
ZyCrypto
ZyCrypto
followers

Robert Kiyosaki, the author of the best-selling personal finance book “Rich Dad Poor Dad,” has forecasted that the price of Bitcoin could reach $100,000 by June 2024. In a tweet on Monday, Kiyosaki stated, “BITCOIN to $100k by June 2024.” This is not the first time Kiyosaki has expressed his support for Bitcoin. Kiyosaki has long been an advocate for investing in assets that can serve as a hedge against inflation, such as gold, silver, and Bitcoin. In a recent tweet, he explained that he sees these assets as “parachutes for your personal soft landing” in the event of a global economic crash. Kiyosaki also discussed the importance of understanding the nature of money and the problems with central banking. He criticized the government’s ability to print money, stating that it is a form of theft that transfers wealth from savers to the government and the wealthy. “BAIL OUT, BAIL OUT, BAIL OUT: In US Navy Flight School, student pilots learn how to fly and how to crash their plane. Financial losers will lose money because they do not know what to do with their money as banks fail and world economy crashes. For many years, I have warned, ‘Buy Gold, Silver, Bitcoin.” He wrote. In an interview last week, he discussed the upcoming Bitcoin halving event and its potential impact on the price of the cryptocurrency. The Bitcoin halving, which is scheduled to take place in April 2024, is a pre-programmed event in which the reward for mining new blocks on the Bitcoin network is cut in half. This happens every four years and is intended to help maintain the scarcity of Bitcoin, as the total supply is limited to 21 million coins. In the interview, he expressed his belief that the price of Bitcoin could reach six figures in the coming years. of a Bitcoin, making it accessible to investors with any amount of capital. Kiyosaki also expressed his support for the decentralized nature of Bitcoin, stating that it is a fair and equitable economic system that is not subject to the same manipulation and corruption as traditional fiat currencies. Meanwhile, Bitcoin continued its strong performance on Monday, following two consecutive weeks of bullish action. At press time, the cryptocurrency was trading at $52,084 after a surge of 0.65% in the past 24 hours. In addition, Bitcoin’s trading volume saw a slight increase, rising by 5.51% to $21.7 billion in the same duration.

6 days ago
The Cryptonomist
The Cryptonomist
followers

Robert Kiyosaki, author of “Rich Dad Poor Dad”, has published his Bitcoin (BTC) price prediction: 100,000 USD by June 2024.  Bitcoin (BTC) price prediction: $100,000 by June 2024, according to Kiyosaki Yesterday, the famous author of the financial best-seller “Rich Dad Poor Dad”, Robert Kiyosaki, tweeted his price prediction for Bitcoin (BTC). BITCOIN to $100k by June 2024. — Robert Kiyosaki (@theRealKiyosaki) February 18, 2024 “BITCOIN at 100k dollars by June 2024” According to Kiyosaki, there is no doubt: Bitcoin (BTC) will reach $100,000 by June 2024.  This bullish forecast consolidates the businessman’s position as a strong supporter of crypto, and “hard assets” such as gold and silver.  Bitcoin (BTC) price prediction at $100K by June 2024: Kiyosaki against the Fed The current price prediction for Bitcoin (BTC) at $100,000 by June 2024, perfectly aligns with another prediction already announced by Kiyosaki. And indeed, exactly one year ago, the author of the best-seller had shared another tweet in which he predicted that the price of Bitcoin will reach $500,000 by 2025. The reason for this bullish trend for Kiyosaki will be a massive crash that will put the Fed in difficulty.  As is now known, Kiyosaki has often criticized the Federal Reserve (Fed) and its monetary policies. Specifically, the businessman often accuses the Fed of damaging the economy and favoring the wealthy. In previous predictions, in fact, Kiyosaki had specified that it will happen that the Fed will be forced to print billions of fake dollars, just to cope with the gigantic collapse that is coming, destroying faith in the US dollar.  In this scenario, the businessman predicts that only those who will take refuge in gold, silver, and Bitcoin will survive. That’s why his forecast sees BTC at $500,000, gold at $5,000, and silver at $500 by 2025.  Kiyosaki had predicted in May 2022 the next bear market of Bitcoin, which led it to touch $15,000.   Bitcoin above $52,000 In order to verify Kiyosaki’s price prediction, all we have to do is observe how BTC will perform in the coming months.  Meanwhile, however, the queen of crypto seems to remain above $52,000, last price reached just last week (exactly on February 15). And indeed, at the time of writing, BTC is worth $52,359, up 9% in the last seven days.  Not only that, even Bitcoin’s market cap seems to have exceeded one trillion dollars, returning to its highs from November 2021, the month of Bitcoin’s all-time high at $69,000.

6 days ago
Traderpro
Traderpro
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Analysis of Bitcoin market trends after the Spring Festival Looking back at the market situation before the Spring Festival: Before the Spring Festival in 2024, the price of Bitcoin experienced a strong rise, rising from US$38,545 to US$52,859, an increase of more than 37%. This rise is mainly due to the following reasons: Expectations for the Federal Reserve to raise interest rates have slowed, the U.S. dollar index has fallen, and risk assets have generally recovered. Macroeconomic data shows that the risk of recession in the United States has declined, and investors are more optimistic about the economic outlook. Cryptocurrency market sentiment is picking up, with more institutional investors entering the market. Market forecast after the Spring Festival: After the Spring Festival, the Bitcoin market may have the following trends: 1. Continue to rise: If the Fed slows down its rate hikes and the macro economy remains stable, Bitcoin prices may continue their upward trend. The target could be above $55,000 and even challenge $60,000. 2. Shock finishing: If market sentiment diverges, Bitcoin prices may fluctuate within the current range. The range is likely to be between $48,000 and $55,000. 3. Retracement decline: If expectations of the Federal Reserve raising interest rates increase and risk assets generally fall back, Bitcoin prices may fall during a correction. The magnitude of the correction could be between 10% and 20%. Influencing factors: Federal Reserve Monetary Policy macroeconomic data Cryptocurrency market sentiment Institutional investor trends Investment Advice: After the Spring Festival, investors can pay attention to the following aspects: Federal Reserve Monetary Policy Meeting Minutes U.S. nonfarm payrolls data Cryptocurrency market trading volume Institutional investor position report Investors are advised to control risks and not blindly chase the rise or fall. Please note that the above are only personal opinions and do not constitute investment advice. Investors should make investment decisions based on their own circumstances. #BTC $BTC

7 days ago
Cryptopolitan
Cryptopolitan
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BRICS has thrown down the gauntlet, calling out the SWIFT system for its blatant favoritism towards the US dollar, tagging it as not just unfair but a financial black hole for countries forced to dance to its tune. Basically, every time a country tries to make a move in the global marketplace, it has to pay a premium, not to some universal fund that benefits all, but straight into Uncle Sam’s wallet. The SWIFT system, with its hidden fees and exchange rate markups ranging between a hefty 3-5%, is like that friend who always ‘forgets’ their wallet when it’s time to split the bill, leaving others to cover the cost. And guess what? BRICS has had enough of SWIFT. A Quest for Financial Equity When South Africa’s Foreign Minister, Naledi Pandor, stepped up to the mic, she talked about a rigged game where the house always wins, and in this case, the house is the US dollar. The BRICS nations, not content to be spectators of their own economic destiny, are drafting plans to flip the script. They’re walking the walk towards a system where local currencies get a fighting chance, and the US dollar doesn’t automatically get to cut in line. When BRICS countries engage in international trade under the SWIFT system, they’re essentially funding the US’s economic dominance. Every transaction that passes through this system reinforces the dollar’s supremacy, making it harder for emerging economies to stand on their own feet financially. This is why BRICS is working so hard to create its own alternative payment system. By advocating for trade in local currencies, the bloc wants to dismantle the existing financial hierarchy, which disproportionately benefits the US, and create a more equitable global economy where all nations have the opportunity to thrive on their own merits. Expanding the Playground On the first day of 2024, the BRICS gang got bigger, adding five more countries to its roster. This was a power move that significantly upped the bloc’s game in the world economy and demographics. But let’s be for real, the mix of different vibes and low trade mix-tape among the crew limits how much noise they can make in the world trade and international money scene. To me, the expansion looks more like BRICS showing it’s a hotspot for countries on the rise and developing nations looking for a squad that gets the Global South, if you know what I mean. From its early days as a catchy acronym, BRICS has morphed into a more formal clique of countries shaking up the economic and political scene. By the time they hit their 15th Summit in Johannesburg in August 2023, they were ready to welcome new members into the fold—Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates were all set to join from January 2024. Although Argentina decided to sit this one out after a change in leadership and Saudi Arabia has decided to keep us in suspense by playing a mildly-infuriating game of peekaboo that neither says they’ve accepted or rejected BRICS invitation. Now, holding nearly half the world’s population (a jump from 41% to 46%) and outdoing the G7 with a larger share of the world GDP (35.6% in 2022, and we’re not stopping there), BRICS+ is showing off, with China leading the pack. But as much as BRICS+ is bulking up, it’s also becoming a bit of a mixed bag geopolitically. Adding new members like Iran has made the bloc more of a geopolitical patchwork quilt, with each country bringing its own unique pattern of relations with the West. This diversity could make family dinners a bit awkward, especially when certain members might not see eye to eye due to regional beefs.

7 days ago
Cryptopolitan
Cryptopolitan
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The BRICS alliance has exceeded expectations, racing ahead of the G7 in terms of GDP (PPP) well before the forecasted timeline. The term, coined by economist Jim O’Neill in 2001, encapsulated the potential of these nations to redefine global economic dynamics. O’Neill’s prophecy that BRICS would challenge the economic supremacy of the traditional G7 by 2050 seemed ambitious at the time. My father told me he laughed it off when he heard it. However, we’re in 2024 and the reality is that BRICS is surpassing the G7 in significant financial metrics way quicker than we all thought. BRICS Expansion and Economic Dominance BRICS’ trajectory of growth has been nothing short of remarkable. Initially predicted to reach half the economic size of the G6 by 2015, the alliance achieved this milestone a decade earlier than expected. This early success laid the groundwork for a more ambitious comparison with the G7, a group of the world’s most advanced economies. Right now, BRICS has not only outpaced these forecasts but has also begun to reshape the landscape of global economic power through strategic expansions and financial initiatives. The inclusion of South Africa in 2010 marked the beginning of BRICS’ expansion, which continued into 2024 with the addition of new members like the UAE, Ethiopia, and Iran among others. These countries, known for their vast resources and substantial investable wealth, have further strengthened the bloc. The collective wealth of BRICS nations, now totaling $45 trillion, empowers it to invest in its New Development Bank, funding projects in local currencies and reducing dependence on the US dollar. Shifting the Global Economic Balance The impact of BRICS on the global economy is actually very impressive. Representing 45 percent of the world’s population and contributing 36 percent to global GDP, the alliance has overtaken the G7, which accounts for 30 percent of global GDP. This shift signals a qualitative change in the global economic order, with BRICS championing an alternative model of economic development and cooperation. The alliance’s growth is fueled by the rapid economic ascents of India and China, along with significant contributions from its other members. These nations have exceeded the growth expectations set in 2001, suggesting an upward trajectory that might see BRICS surpass its own ambitious goals for 2050. The alliance’s strategy includes a push for currency appreciation and an effort to reduce global reliance on the US dollar, aiming for a financial system that reflects the diverse and multipolar world economy. Investable wealth within BRICS is expected to see a dramatic increase, with the millionaire population in these countries projected to rise by 85% over the next decade. This growth outstrips that of the G7, where millionaire numbers are expected to increase by 45% in the same period. BRICS’ strategic focus on wealth expansion, particularly in India and Saudi Arabia, is poised to drive per capita wealth increases significantly. This economic vigor, coupled with investments in gold and the development of an alternative currency, positions the alliance as a formidable challenger to established financial institutions and the current world order.

7 days ago
TopG
TopG
followers

Current Market:Price: Bitcoin is chillin' around $51,732 right now (as of February 18, 2024) .Trend: Price has been movin' sideways lately, some analysts see a potential dip comin' soon ➡️.Technical Indicators: ‍♀️ Some indicators say bullish, some say neutral, remember, they ain't fortune tellers!Fear & Greed Index: Greed is high at 72! Be careful not to get too FOMO-ishRecent News:Positive: Institutional investors are lovin' Bitcoin ❤️, good regulations poppin' up everywhere , and DeFi is gettin' hot !Negative: Inflation worries got everyone , US policy changes loom like a storm cloud ️🇺🇸, and crypto exchanges need better security shields ️❌!Possible Future Developments:Regulation: Governments might make decisions that impact the market, buckle up for a wild ride! ⚖️Adoption: More people usin' Bitcoin could send the price sky high! ‍‍‍, but remember, mass adoption takes time ⏳.Macroeconomic factors: Global economy and political stuff can also play a role, stay informedFollow for more I hope this is even more helpful and fun! $BTC

8 days ago

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