Bitcoin Price $ 10,000 Prime Day Discount and Elon Musk Dogecoin Drama — CryptoCodex
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Prime Day discount 🏷
The Bitcoin price has fallen in the run-up to Amazon’s annual Prime Day sale while the dogecoin … [+]
It’s Amazon Prime Day on Wednesday and bitcoinhas already gone on sale, a decrease of almost 4% since this time yesterday. The Bitcoin price has followed the stock markets lower this morning, and coincided with the markets in Asia, Europe and US futures.
Ethereum and its biggest rivals BNB
Now read this: Bitcoin should protect itself against inflation – here is the reason why it has not worked that way
“Robust” rules 👨⚖️
Countdown to October: The Financial Stability Board (FSB) has said it will propose “robust” global rules for cryptocurrencies in October after the recent cryptocurrency highlighted the need to regulate the “speculative” market. The FSB warned that crypto is not a “regulatory vacancy” and must comply with relevant existing rules. “The FSB will report to the G20 finance ministers and central bank governors in October on regulatory and supervisory approaches to stack coins and other cryptocurrencies,” the FSB said in a statement first reported by Reuters.
Contains infection: The move is partly a response to the collapse of the Terra blockchain ecosystem and shock waves coming from what is still felt by such as crypto companies Celsius and Voyager. “Failure of a market player, in addition to inflicting potentially large losses on investors and threatening market confidence as a result of the crystallization of behavioral risk, can also quickly transfer risks to other parts of the crypto-asset ecosystem,” the FSB wrote.
Why it’s important: While the FSB has no legislative authority, its members undertake to apply their regulatory principles in their own jurisdictions.
Zoom out: Earlier this month, the EU agreed on comprehensive new rules for the crypto market, and last week the US Treasury Department announced a new framework for international engagement in digital assets – required by President Joe Biden’s order from March. Politico has a useful re-cap.
What now? G20 finance ministers and central bankers will meet in Bali later this week.
Good to know: Jump Trading is all in on crypto despite the wintery mix
The survey says … 🗳️
So-called bitcoin maximalists on Wall Street are powerful in the minority of both those who hate and love … [+]
Invest Professional investors expect cryptocurrency to get worse before it gets better, according to nearly 1,000 people who responded to the latest MLIV Pulse survey, first reported by Bloomberg.
➗ More than half (60%) believe the bitcoin price will reach $ 10,000 before $ 30,000, a more than 50% drop from the current price of just over $ 20,000. Meanwhile, crypto continues to share opinions, with almost 30% of pro-investors predicting that crypto is the “future” of finance, but almost 20% label cryptocurrencies “all rubbish”.
However, a survey last week of about 4,400 US adults conducted by the intelligence company Morning Consult found that crypto owners still feel optimistic despite the recent downturn and expect bitcoin to bounce back to around $ 38,000 before the end of 2022. Read the full story on Forbes.
Now read this: Crypto – confirmed casino
The week ahead 📅
👀 Watch out for these cryptocurrency and cryptocurrency-related events this week.
🏛️ Bank of England (BoE) Governor and outspoken cryptocurrency critic Andrew Bailey speaks today and tomorrow. Earlier today, BoE Deputy Chief Financial Officer Jon Cunliffe called for similar rules and regulations that apply to the traditional financial system to be extended to crypto markets. Cointelegraph have more.
Infl US inflation data tops the economic calendar this week, with investors preparing for the Consumer Price Index (CPI) in June on Wednesday, which is expected to show overall inflation, including food and energy, rising above the 8.6% corn level. Financial legend Mohamed El-Erian sees that the reading is “very close to 9%”.
– Has inflation in the US accelerated again in June?
🏙 Towards the end of the week, Wall Street giants including JPMorgan Chase
– The stock market is facing the next test as inflation threatens over the earnings season
Good to know: US Fed Deputy Brainard does not like what she sees in crypto
