With the US CPI due for release on July 12, Bitcoin (BTC) and Ether (ETH) are stabilizing, raising investor expectations. The previous month, these two cryptocurrencies soared in response to this economic indicator. Could this trend be repeated this month?
All the ingredients for a 2008-style recession are there, says American investor Jim Rogers. But if their peculiarities are anything to go by, the worst is yet to come.
Elon Musk, the renowned technologist and futurist, predicts that the dollar will soon be worth next to nothing.
Banks are falling like flies as the Fed finishes raising rates. Hard to imagine a more favorable situation for Bitcoin.
In March, Srinivasan made a bold prediction that Bitcoin would skyrocket due to the bankruptcy of banks and inflation. According to him, the price of BTC could reach $1 million. Despite the changing economic landscape in the United States, Balaji Srinivasan is sticking to his Bitcoin prediction.
Currently, Argentina is facing a worrying inflation crisis of over 100%. Argentines are at a loss as to what to do about the ever-increasing poverty in their country. A Reuters report released on April 14 shows that nearly 40 % of them live in poverty. In addition, they have suffered billions of dollars in economic losses due to one of the worst droughts in their history. Faced with this situation, the co-founder of MicroStrategy advises Argentines to turn to crypto.
The inflation rate in Argentina reached an all-time high of 100% in February. Something like this hasn't happened since 1991. As the currency collapses, more and more Argentines are turning to Bitcoin.