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Tesla CEO Elon Musk has warned that a major rate hike by the Federal Reserve risks deflation in the U.S. economy. Musk’s warning followed an analysis by Ark Invest CEO Cathie Wood, who cautioned that “Leading inflation indicators like gold and copper are flagging the risk of deflation.” Elon Musk, Fed
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The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 8, 2022. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Original Source
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Bitcoin (BTC) has struggled to stay above the crucial psychological threshold of $20,000 this week. The largest cryptocurrency has faced pressure – along with other risky assets including stocks – from hawkish chatter by monetary officials. On Tuesday, bitcoin dropped to as low as $18,559, which was its lowest price
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The tighter the labor market, the stickier inflation and the more pro-tightening, or hawkish, the Fed will be. Risk assets, including cryptocurrencies, are addicted to cheap liquidity and have taken a beating this year, mainly because of the Fed's interest-rate-hike cycle. This year, the central bank has raised rates by
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Bitcoin Cash had shed 24% of its value in the previous 12 days. Leading coins like Bitcoin (BTC) and Ethereum (ETH) have also experienced double-digit losses over the past 26 days as a result of the broader market slump. BCH support present at $113.2
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After seeing Ghana’s inflation rate surge to 31.7% in July, the Bank of Ghana responded by hiking the benchmark interest rate by 300 basis points. In addition to the rate hike, the central bank said it will gradually raise banks’ primary reserve requirements. One expert has said President Nana Akufo-Addo
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The European stock markets and the United States equities markets are both deep in the red on Aug. 22 as investors fear that aggressive rate hikes may not be off the table. Another thing keeping investors nervous could be the upcoming Jackson Hole economic symposium, which is scheduled to begin on
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The bitcoin mining difficulty ribbon, comprising short- and long-duration simple moving averages on the mining difficulty, has compressed for the first time in over a year, indicating miner capitulation. The previous bear markets, including the one seen in 2014, ended with the ribbon compression, data provided by analytics firm Glassnode
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The Central Bank of Nigeria should be discontinuing the fixed exchange rate system and let the naira freely float against the major currencies, Alhaji Aminu Gwadabe, the leader of a Nigerian association of bureau de change operators has said. The leader also slammed the recent adjustment of the central bank’s
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Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.Top Stories This Week ‘Bullish rate hike’ — Why crypto spiked
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