Bitcoin holds $20K as ECB warns inflation may never return to pre-COVID lows
Markets beyond the euro slow to react as Europe acknowledges higher inflation may be permanent. Bitcoin (BTC) held steady at just above $20,000 after the June 29 Wall Street open as Europe's chief banker admitted the world would "never" return to low inflation.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewLagarde on inflation: "I don't think we're ever going back"Data from Cointelegraph Markets Pro and TradingView showed BTC/USD looking nonvolatile but precarious as it stuck in a narrow range on the day.United States equities markets were likewise calm after Asian trading had....
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As mainstream media pundits like the Bloomberg economics editor Peter Coy tell Americans to “tune out the hyperinflation hype,” fund managers from a recent Bank of America survey who collectively manage $630 billion, believe inflation is the biggest risk to markets right now. Instead of the former concern over Covid-19, the current number one risk to markets is inflation, as federal stimulus spending has invoked worry among investors. While Inflation Concerns Grow, Mainstream Media Publications Tell Americans Not to Worry Just recently, Jerome Powell, the Federal Reserve....
Many have likened BTC’s anti-inflation properties to those of gold, but there are important differences between the two assets. On Feb. 9, the United States Bureau of Labor Statistics reported that the Consumer Price Index, a key measure capturing the change in how much Americans pay for goods and services, has increased by 7.5% compared to the same time last year, marking the greatest year-on-year rise since 1982. In 2019, before the global COVID-19 pandemic broke out, the indicator stood at 1.8%. Such a sharp rise in inflation makes more and more people consider the old question: Could....
As major economies of the world grapple with high inflation, investors could protect their savings from value erosion by investing in stablecoins. Just when the global economy largely recovered from the crippling effects of the COVID-19 pandemic, geopolitical tensions and the resultant supply chain pressures have once again roiled financial markets across the world. Furthermore, inflation has once again reared its ugly head, forcing central banks across major economies to raise interest rates in an attempt to curtail runaway prices of essential commodities like food and fuel. Despite these....
The third-richest billionaire in Mexico, Ricardo Salinas Pliego, has shared his experience of living through hyperinflation. He warned that the U.S. and several other civilized countries are “going exactly the same route” his country went through in the 1980s.
Mexican Billionaire Warns About Inflation
Mexico’s third-richest billionaire, Ricardo Salinas Pliego, gave some advice Thursday regarding inflation, hyperinflation, bitcoin, and fiat currencies at the Bitcoin 2022 conference in Miami, Florida.
Salinas is the founder and chairman of Grupo....
One of bitcoin’s main selling points has been the fact that its return has often put it ahead of the inflation rate. Due to this, it has gained notoriety as the “digital gold” as a good portion of the community put forward that the digital asset is a better inflation hedge than any asset. However, […]