Bitcoin News and Finance: What You Need to Know

Economist Nouriel Roubini, also known as “Dr. Doom,” predicts that the global reserve currency system will shift from unipolar to bipolar. He expects most countries that attempt to reduce their reliance on the U.S. dollar to propose the Chinese yuan as an alternative to the USD. Roubini on U.S. Dollar and Chinese Yuan as Global Reserve Currencies Nouriel Roubini, aka Dr. Doom, discussed the future of the U.S. dollar as the world’s reserve currency in an interview with Indian media outlet CNBC TV-18, published Tuesday. Roubini is the chief economist for Atlas Capital and also Professor Emeritus of Economics and International Business at New York University Stern School of Business. He explained that most countries that form a rival group to oppose the U.S. and reduce their reliance on the dollar are striving to establish an alternative economic, monetary, and global reserve currency system. The economist added: These allies are going to move in the direction of proposing the RMB [...

According to worldwide data from Google Trends, the search term “bitcoin” has reached a score of 93 out of 100 in the last seven days. Additionally, the price of bitcoin rose above the $30,000 range for the first time in ten months, or since June 2022. Bitcoin Search Interest Rises as Leading Crypto Asset Taps $30K On Tuesday, April 11, 2023, bitcoin’s price rose above the $30,000 mark for the first time since June 8, 2022. According to statistics from coinmarketcap.com, BTC’s dominance is currently over 47%, the highest it’s been in two years. Presently, the hashtags #bitcoin, # ETH , and #cryptocurrency are trending on Twitter, and there are currently more than 88,000 tweets with the #cryptocurrency hashtag. At 4:00 p.m. Eastern Time on Tuesday, the search term bitcoin reached a score of 93 out of 100 on Google Trends (GT). A GT score of 100 denotes the zenith of a search term’s popularity in the selected region and time period. It also means that more people are searching for...

The annual inflation rate in China has unexpectedly slowed down in March to its lowest level in a year and a half, the latest statistical data indicates. On a monthly basis, consumer prices decreased for a second consecutive month, despite estimates suggesting they will remain unchanged. Post Zero-Covid Policy Inflation in China Eases Further China’s annual inflation rate fell to 0.7% in March, from February’s 1.0%, according to official numbers released by the National Bureau of Statistics. That’s the lowest figure since September 2021, noted the Trading Economics website which quoted the data. The unexpected drop reflects further easing of the costs of both food and non-food items which comes amid an uneven economic recovery after the removal of the government’s zero-Covid policy, the statistical portal highlighted on Tuesday. Food inflation decreased to 2.4% from 2.6% in February, a 10-month low which is largely due to a decline in the cost of fresh vegetables which turned ou...

A Layer two (L2) project, called Cryptogpt, which leverages ZK-rollup technology and artificial intelligence (AI), has announced that its team has raised $10 million in capital from a Series A funding round. The crypto and AI firm disclosed that the new funds would be used to expand into the largest Asian markets, and the company now has a valuation of $250 million. Cryptogpt Startup Raises $10 Million; Startup Now Has a $250 Million Post-Valuation Artificial intelligence (AI) has become a popular subject in 2023 as AI projects, such as Midjourney and Chatgpt, along with many other programs, have seen a surge in demand. This has sparked a significant rise in value for a number of AI-related cryptocurrency and blockchain projects this year. According to statistics from cryptoslate.com, at the time of writing, 77 AI-focused cryptocurrencies are worth $3.48 billion. On April 10, an L2 project called Cryptogpt announced that it raised $10 million in a Series A financing round. “Crypt...

PRESS RELEASE. The Seasonal Tokens economy has gone through its second change of season. Like bitcoin, the four tokens – Spring , Summer , Autumn and Winter – go through regular halvings of the supply from mining. Every nine months, the rate of production of one of the tokens is cut in half. On the 6th of March, the Summer halving took place. Summer went from being produced at the fastest rate of the four tokens, to the slowest. As the market adjusts to the lower rate of supply after a halving, the token that was previously the cheapest gradually becomes the most expensive. This happened with Spring after its halving in June of last year. The same process is now unfolding with Summer. Autumn tokens, which are now produced at the fastest rate of the four, have become the cheapest token, and can be expected to remain that way until the Autumn halving in December. Meanwhile, Summer is rising and is now tied with Winter for second place. The tokens are designed to slowly cycle ...

Bank walks are a new liquidity movement phenomenon identified by analysts, characterized by a slow drift of deposits to take advantage of better yield opportunities. Such “walks” might prove to be pernicious to the banking system, as they cannot be stopped and have effects on credit availability. What Are ‘Bank Walks’? Bank walks, so called by analysts due to their slow action when compared to bank runs, are slow movements of deposits caused by the constant search for higher yields. According to an ongoing study titled “Destabilizing Digital Bank Walks,” they “cannot be stopped by any deposit insurance and that will undermine the stability of the banking system in the months to come.” The study remarks that regulators often consider deposits as sticky, meaning they are composed of the savings of depositors, and don’t move often. This means that banks can put part of these deposits into treasuries of a determined maturity. However, the study found that these deposits, as a conseque...