all about cryptop referances
Venture capitalist Balaji Srinivasan says hyperinflation is happening now, betting millions of dollars that the price of bitcoin will reach $1 million in 90 days. In related news, countless voices from the financial world are sounding out about inflation, recession and a looming economic crisis. Despite the economic turmoil, central bank chairman Jerome Powell does not foresee the Fed cutting interest rates this year. This and more right below in the Bitcoin.com News Week in Review.
Venture capitalist and angel investor Balaji Srinivasan says hyperinflation is happening now. He expects the price of bitcoin to reach $1 million soon, betting that it will happen in 90 days. Srinivasan also advised investors to buy bitcoin, which he believes is “a hedge against hyperinflation, monetary deterioration, bank freezes and asset seizures.”
read more
Economist Peter Schiff has warned that the current financial crisis will be worse than in 2008. “Future rate hikes are now meaningless,” he stressed, adding that any effect would be more than offset by the Fed’s quantitative easing.
read more
Famed economist David Rosenberg has warned of a “crash landing” and an impending recession for the US economy. Referring to the Philadelphia Fed’s manufacturing index chart, he stressed: “Take a hard look at this chart and tell me we’re heading into a ‘soft’ or ‘no’ landing. More like a ‘crash’ landing.”
read more
According to statistics, there are now more than 500,000 Ordinal inscriptions on the Bitcoin blockchain as the trend continues to gain significant traction. Onchain data also shows that since inscriptions started gaining popularity last month, Bitcoin miners have received 98 bitcoins worth $2.66 million in additional fees.
read more
Federal Reserve Chairman Jerome Powell does not see the Fed cutting interest rates this year. “Inflation remains too high and the labor market continues to be very tight,” Powell said, adding: “Financial conditions appear to have tightened, and probably more so than the traditional indices suggest.”
read more
What are your thoughts on this week’s crypto news? Let us know in the comments section below.
Image credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or an endorsement or recommendation of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on content, goods or services mentioned in this article.
Capital Markets veteran and Fintech pioneer Kelley Millet formally joins Prontoblock as CFO and board member
What is crypto portfolio rebalancing and how do you do it?
London seeks to retain Europe Fintech Crown despite Brexit
DraftKings Marketplace NFT Trends for July 2022
NIC is hosting another exciting FinTech Hackathon in collaboration with ABL – Latest News – The Nation
Grayscale Bitcoin Trust, MicroStrategy, WGMI, Marathon Digital, HIVE Blockchain and Riot Platforms
Fintech Lufax Seeks Dual Listing as Pandemic Profits – Alibaba Group Holding (NYSE:BABA), Lufax Holding (NYSE:LU)
Crypto finally gets its first appearance in the Supreme Court
Miami Trio defrauded banks, crypto exchange in $4 million scam
New platform aims to bridge ‘translation layers’ between banks, fintechs
