Bitcoin News and Finance: What You Need to Know

Economist Peter Schiff says the U.S. banking system is insolvent. He stressed that the Federal Reserve destroyed the U.S. banking system, citing near-zero interest rates at banks while “the Fed funds rate is 5.25% and the real inflation rate is much higher.” Schiff previously warned that the U.S. banking system is on the verge of a “much bigger collapse than 2008.” Peter Schiff on U.S. Banking Crisis Gold bug and economist Peter Schiff is back with more warnings about the U.S. economy. He tweeted Friday that the Federal Reserve destroyed the U.S. banking system, emphasizing that it is insolvent and would collapse without government help. Schiff wrote: Bank of America pays just .05% interest on savings accounts and nothing on checking accounts. But the Fed funds rate is 5.25% and the real inflation rate is much higher. The Fed destroyed the U.S. banking system. It’s insolvent and would collapse without government backstops. This was not the first time that the economist sounded t

Rich Dad Poor Dad author Robert Kiyosaki has warned that the real estate market is on the verge of a crash that will be worse than the 2008 financial crisis. Noting that it will be the greatest crash “ever,” he stressed that the 2023 crisis will make the Global Financial Crisis “look like nothing.” ’Greatest Real Estate Crash Ever’ Robert Kiyosaki, author of the best-selling book Rich Dad Poor Dad, has issued another warning about the real estate market, stating that it is on the verge of the greatest crash “ever.” Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. The famous author believes that the 2023 crash will be worse than the 2008 Global Financial Crisis (GFC), and is advising investors to protect themselves by buying gold, silver, and bitcoin. He tweeted Wednesday: Grea

On June 10, 2023, bitcoin is dominating with a market capitalization dominance of 47.5%, marking its highest level since this time last year, according to coinmarketcap.com. Meanwhile, ethereum’s dominance is holding steady at 20%, indicating that the recent dominance gains made by these two crypto assets have come at the expense of other digital currencies. Bitcoin Dominance Rises While Ethereum’s Dominance Remains Resilient; Many Other Crypto Competitors Have Not Been So Lucky As of Saturday, June 10, bitcoin (BTC) is still the undisputed leader with a market valuation of $496 billion, accounting for 47.5% of the entire crypto economy’s $1.04 trillion market capitalization. However, BTC has experienced a slight dip of 3.32% in the past day and 5.79% over the week against the U.S. dollar, according to current data. Interestingly, while BTC has weathered the storm relatively well, many other top crypto assets, particularly those in the top 20, have taken a much harder hit in ter

Cardano fell by over 25% on Saturday, as traders continued to react to the token being delisted from the Robinhood platform. The global cryptocurrency market cap is currently down by nearly 6%, following these developments. Polygon, which was also delisted, dropped to a one-year low to start the weekend. Cardano ( ADA ) Cardano ( ADA ) dropped markedly on Saturday, as traders continued to react to the token being delisted from the Robinhood platform. Following a high of $0.3218 on Friday, ADA /USD slipped to a bottom at $0.2304 to start the weekend. Looking at the chart, the decline came as the relative strength index (RSI) plunged below a floor at the 30.00 mark, entering oversold territory. At the time of writing, the index is currently tracking at 17.75. ADA is currently trading at $0.2509, down 22% from yesterday’s peak. Polygon (MATIC) Additionally, polygon (MATIC) lost a significant amount of its value to start the weekend, nearing a one-year low in the process. MATIC/

Bitcoin moved below the $26,000 level to start the weekend, as bearish pressure intensified following a week of turbulence. Sentiment in the market once again shifted, as traders liquidated their positions on the back of the U.S. Securities and Exchange Commission’s (SEC) crackdown on crypto. ETH dropped below $1,800. Bitcoin Bitcoin ( BTC ) started the weekend trading below $26,000, as traders continued to react to the fallout of the SEC’s cryptocurrency crackdown. The latest domino to fall came in the form of Robinhood, who moved to delist several altcoins from its platform, including solana and cardano. BTC /USD fell to an intraday low of $25,502 in the news, which comes a day after price peaked at $26,770. Looking at the chart, the latest downturn came as the 14-day relative strength index (RSI) fell towards a floor at 39.00 At the time of writing, the index is tracking marginally above this point at 40.06. In addition to this, the 10-day (red) moving average has extended

Majority state-owned lender Sberbank is preparing to allow Russian citizens to buy and sell digital assets. Private individuals will be provided access to its proprietary blockchain platform as early as this month, a top executive of the bank announced. Sberbank to Open Digital Assets Platform to Private Individuals Retail investors will be able to transact with digital financial assets (DFAs) on the distributed ledger platform built by Sberbank by the end of the current quarter, according to the Deputy Chairman of the bank’s Board, Anatoly Popov. “If we talk about individuals, then in the second quarter, in June, we believe this function will be open,” Popov said, quoted by the Tass news agency. They will have the opportunity to buy digital financial assets, sell them and exchange them for fiat, he detailed. DFAs are a relatively new financial instrument for Russia which was regulated with the law “On Digital Financial Assets” in 2021. Unlike decentralized cryptocurrencies, they