Is A Lack Of Savings To Blame For Bitcoin Slowdown?
New data may suggest that almost all the excess savings accumulated during COVID have been spent. The timing might correlate with the slowdown in Bitcoin’s price. Could The Bitcoin Slowdown Be A Result Of American Consumers Spending Their Excess Savings? As per a report from Zero Hedge, it looks like US consumers may have already […]
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Most of the Germans feel the European Central Bank is to blame. They feel the ECB is igniting eurozone inflation with negative interest rates. Having faith in a bank is not something most people are accustomed to these days. Things seem to be going from bad to worse in Germany. Savers are pulling funds out of savings to park cash in such a way they can avoid negative interest rates. This decline in saving accounts’ popularity could be good news for Bitcoin in the long run. Similarly to most countries in the world, Germany is faced with looming negative interest rates. This means users who....
The slowdown in the global economy has resulted in many governments imposing protectionist measures in their countries. Could this pose a threat to Bitcoin? Slowdown in World Trade Growth. Globalization and the corresponding increase in world trade has driven global GDP growth for the last couple of decades. Countries have found their niche areas in the global economy and have flourished – China in manufacturing, India in software, Philippines in Business Process Outsourcing, etc. However, the rapid growth in global trade seems to be plateauing. According to a recent World Trade....
Ripple has projected that banks that use the Ripple network and its native cryptographic token XRP for cross-border payments can save up to 42% when compared against today's options. The findings are part of a new 15-page report issued today by the distributed ledger technology (DLT) startup. Entitled “The Cost-Cutting Case for Banks”, it finds Ripple offering clarity as to the cost-savings its products can realize for the first time. Further, the report projects respondent banks using Ripple without XRP can save 33% on international payments, with savings being generated by a 65%....
Bitcoin was back in the red during Friday’s session, as the token was once again trading below $19,000. The recent decline comes as the global economic slowdown has become more apparent. This week, both the Bank of England and United States Federal Reserve have moved to increase interest rates, with the Bank of Japan also intervening in the currency market. Ethereum was also lower on Friday, falling below $1,300. Bitcoin Bitcoin (BTC) fell back below $19,000 on Friday, as financial markets continued their sell-off, while the global economy continued to slow down. BTC/USD was moving....
London-based BSave has announced the launch of its Bitcoin savings account at the North American Bitcoin Conference in Miami today. Bitcoin service provider BSave has officially launched its savings account which credits an interest to the user’s account at the end of a 24 hour period, every day. The British company is opening its wallet to the public following “intense months of beta testing,” according to a press release revealing the announcement today. The BSave savings account is currently open to all Coinbase customers. While details are scarce in the press release, the company’s....