Survivors of 2022 crypto crash could be the new Amazons and eBays – BOE

Survivors of 2022 crypto crash could be the new Amazons and eBays – BOE

(Kitco News) The companies that survive the 2022 crypto crash could become the new Amazons and eBays of the world, said Bank of England Deputy Governor Jon Cunliffe. There are similarities between the dotcom collapse of 2000 and this year’s crypto price meltdown, Cunliffe said at the Point Zero Forum in Zurich on Wednesday. “The … Read more

The crypto pendulum swings back to ‘real economic value’: can Bitcoin price survive a recession?

The crypto pendulum swings back to ‘real economic value’: can Bitcoin price survive a recession?

(Kitco News) After briefly touching $17,000 over the weekend, Bitcoin is back above $20,000. But can the price outlook recover as recession calls grow and inflation continues to dominate market headlines? Stablecorp CEO Alex McDougall weighs in. When looking at price forecasts for the rest of 2022, investors need to separate crypto’s technology angle from … Read more

The future monetary policy is all about CBDCs, not crypto – BIS’ report

The future monetary policy is all about CBDCs, not crypto – BIS’ report

(Kitco News) “Anything that crypto can do, CBDCs can do better” is the sentence that describes the Bank for International Settlements’ vision for the future monetary policy system. The future of money is all about central bank digital currencies (CBDCs), not crypto. And that’s because of all the flaws that cryptocurrencies pose, especially those that … Read more

Bitcoin drops below US$ 20,000 for the first time since 2020 – National

Bitcoin drops below US$ 20,000 for the first time since 2020 – National

The price of bitcoin fell below $20,000 for the first time since late 2020 on Saturday, in a fresh sign that the selloff in cryptocurrencies is deepening. Bitcoin, the most popular cryptocurrency, fell below the psychologically important threshold, dropping as much as 9% to less than $19,000, according to CoinDesk. The last time bitcoin was … Read more

Crypto weekend meltdown: Bitcoin price touches $17k, Ethereum below $900 as renewed selloff sends prices spiraling

Crypto weekend meltdown: Bitcoin price touches k, Ethereum below 0 as renewed selloff sends prices spiraling

(Kitco News) The crypto space faced another sharp selloff during the weekend as Bitcoin plunged below $18,000 and Ethereum dropped below $900. The overall crypto market cap plummeted to $847 billion, down nearly 10% on the day. Bitcoin hit $17,677, the lowest level since November 2020, and Ethereum fell to a low of $893, the … Read more

Bitcoin drops below $20,000 as crypto plunge continues | Crypto News

Bitcoin drops below ,000 as crypto plunge continues |  Crypto News

A spate of cryptocurrency meltdowns have erased tens of billions of dollars of investors’ assets and sparked urgent calls to regulate the freewheeling industry. The price of Bitcoin fell below $20,000 for the first time since late 2020 in a new sign the selloff in cryptocurrencies is deepening. Bitcoin, the most popular cryptocurrency, fell below … Read more

Bill Gates on crypto and NFTs: ‘100% greater fool theory’

Bill Gates on crypto and NFTs: ‘100% greater fool theory’

(Kitco News) As crypto investors watched their market dramatically crash this week, Microsoft co-founder Bill Gates compared NFTs (non-fungible tokens) to “greater fool theory.” Here’s what he meant. Digital assets like NFTs are “100% based on the sort of greater fool theory that someone is going to pay more for it than I do,” Gates … Read more

Gold price, Bitcoin price react as Fed’s Powell says another 75bps hike possible in July, ‘softish landing’ depends more on external factors

Gold price, Bitcoin price react as Fed’s Powell says another 75bps hike possible in July, ‘softish landing’ depends more on external factors

(Kitco News) All eyes were on Federal Reserve Chair Jerome Powell after the US central bank raised rates by 0.75% — the biggest increase since 1994. And he did not hold back – stating that another 0.75-percentage-point hike is possible in July and that the so-called ‘softish landing’ will now depend more on external factors … Read more

Bitcoin tumbles as crypto sell-off continues | Business and Economy News

Bitcoin tumbles as crypto sell-off continues |  Business and Economy News

The world’s largest cryptocurrency has slumped about 70 percent since its record high of $69,000 in November. Bitcoin tumbled on Wednesday to a new 18-month low, dragging smaller tokens down with it and spurring a sharp fall in crypto markets sparked by crypto lender Celsius freezing customer withdrawals. The world’s largest cryptocurrency fell as much … Read more

What’s next for crypto after ‘perfect storm’ crashes prices? Ethereum’s market cap is ‘orders of magnitude higher’ than Bitcoin — Messari

What’s next for crypto after ‘perfect storm’ crashes prices?  Ethereum’s market cap is ‘orders of magnitude higher’ than Bitcoin — Messari

(Kitco News) Following the latest massive selloff, the overall crypto market cap is now below $1 trillion — that is billions of dollars vanished in the last few days. And even though the macro-environment remains unsupportive for risk-on assets until inflation slows down, the focus remains more long-term, according to Messari senior research analyst Tom … Read more