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In mid-June red hot inflation reared its ugly head in America once again, as the latest U.S. Bureau of Labor Statistics’ Consumer Price Index (CPI) report indicated that inflation in June rose at the fastest pace in over 40 years. U.S. president Joe Biden has been in office for 18
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Singapore’s state-owned investor Temasek said it sees more broader-market declines in coming months. Source
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The analysts said they expect Europe, the U.K., Japan, South Korea, Australia, U.S. and Canada to fall into recession. They U.S. could experience a “shallow but long” recession of five quarters, and Europe could take a much deeper hit because of Russia's attack on Ukraine. Original Source
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Summary: Timothy Peterson has forecasted that the United States might already be in a recession. If such is the case, the Bitcoin and crypto markets could drop by an additional 20 – 40%. Bitcoin’s 2017 all-time high of around $20k continues to be the make-or-break level. Bitcoin and crypto analyst, Timothy Peterson of Cane
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By Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock Bitcoin fell further this morning to $19,000, as it trades below the 200-weekly SMA. So far, Bitcoin has
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Analysts see too few positive signs to sustain a crypto rally as investors position for further pain in traditional markets. Source
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Premarket futures for U.S. indices fell, while Asian equities took a hit on Wednesday. Source
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“Everybody kind of feels that Bitcoin needs to wash out and take out all the short positions,” said Chris Terry, vice president at lending platform SmartFi. “This would be probably the full 80% retracement, which is typical in the markets, which would be down in the $12,000 to $13,000 range.” Source
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Deutsche Bank has updated its recession forecast. The bank’s economists now see “an earlier and somewhat more severe recession” than previously predicted. “The Fed has undertaken a more aggressive hiking path, financial conditions have tightened sharply and economic data are beginning to show clear signs of slowing,” said the economists. Deutsche
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President Joe Biden and Treasury Secretary Janet Yellen say that a U.S. recession is not inevitable, dismissing the concerns of many economists who have predicted an upcoming recession. In addition, Biden insisted that the U.S. will “overcome this inflation” while Yellen admitted that “inflation is unacceptably high.” Biden: U.S. Recession Isn’t
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