Bitcoin News and Finance: What You Need to Know

Global investment bank JPMorgan has presented four probable global outlook scenarios, with “boil the frog” recession emerging as the most likely outcome. The bank’s economists warned: “Broad-based developed-market tightening points to a more synchronized global downturn sometime in 2024.” JPMorgan’s Global Outlook and ‘Boil the Frog’ Recession Global investment bank JPMorgan has provided an overview of four potential global outlook scenarios that it expects to unfold in 2023 and 2024. The bank’s economists believe that the likelihood of the United States entering a recession outweighs the possibility of avoiding one. The most likely outcome, according to JPMorgan, is “boil the frog” recession, with the U.S. slipping into recession at the same time as the rest of the global economy. The economists assigned a 36% probability to this scenario, highlighting that it is primarily driven by the implementation of aggressive monetary tightening in response to persistent inflation. “Centra...

American television presenter and author, John Stossel, released a video on June 20, 2023, where he delved into the findings of a recent study on global economic freedom. Conducted by the Heritage Foundation and unveiled in late February, the research unveils a stark reality: the United States has experienced a substantial decline in economic freedom. From being ranked as the 20th freest nation in 2022, the United States has now slipped to the 25th position in 2023. John Stossel’s Video and Heritage Foundation Study Expose Decline in U.S. Economic Freedom John Stossel, the television show host and author known for his libertarian leanings, recently released a video discussing global economic freedom and the United States’ position among other nations. “Is America really the land of the free?” Stossel asked in a tweet. “Not anymore, according to a new ranking. The U.S. fell to 25th freest country on Earth,” the broadcaster explained. In the video, Stossel refers to the 2023 Index o...

Bitcoin fell below $31,000 to start the week, as traders seemingly moved to secure gains, as the cryptocurrency became overbought. The relative strength index (RSI) rose to its highest point since January, prompting bears to reenter the market. Ethereum also declined, falling below $1,900. Bitcoin Bitcoin ( BTC ) moved marginally lower to start the week, as price fell below the $31,000 mark on Monday. BTC /USD dropped to an intraday low of $30,042.38 earlier in the day, which comes after price peaked above $31,000 on Sunday. Today’s slippage sees bitcoin decline for a third straight day, and comes as the relative strength index (RSI) moved into overbought territory. Bitcoin chart by TradingView Over the weekend, the index hit a peak of 72.92, which was not only near a ceiling of 73.00, but also its highest point since late January. This reading prompted bears to once again enter the market, pushing the RSI down to a current reading of 68.81. The next visible floor appears t...

Jeremy Allaire, CEO of Circle, the company behind the issuance of usd coin (USDC), has expressed his worries about the state of stablecoin regulation in the U.S. In a congressional hearing, Allaire stated that other governments were already regulating the issuance of digital dollars (dollar-backed stablecoins) and called on the U.S. government to act by issuing stablecoin rules. Circle CEO Jeremy Allaire Calls for Stablecoin Regulation: ‘It’s Time to Act.’ Jeremy Allaire, CEO of Circle, a U.S.-based stablecoin company, has called for stablecoin regulation to preserve the country’s sovereignty over the issuance of digital dollars. In a congressional hearing, Allaire explained that other countries have already drafted and established frameworks for issuing dollar-backed stablecoins, leaving the U.S. behind. Allaire explained : We are seeing governments around the world — the EU, the U.K., Japan, Hong Kong, Singapore, and others — actually defining the rules for how dollars, digital...

PRESS RELEASE. 10SecLabs, a leading force in the blockchain incubation landscape, has taken a significant investment leap into the innovative Metagalaxy Land project. This development comes ahead of Metagalaxy Land’s much-anticipated Metaverse Platform Launch. Set to be a trailblazer in the GameFi and metaverse arenas, Metagalaxy Land states that this investment has catalyzed considerable progress in their project, enabling it to leap forward towards future releases. Metagalaxy Land’s pre-alpha version, due to launch in early July, promises an exhilarating experience for its users. Assuming the roles of Space Pirates, they’ll explore the ‘Decentralized Planet.’ The adventure involves hunting for Metagalaxy Land points, which are strategically scattered across the map daily. Accumulating these points allows users to scale the leaderboard and reap enticing rewards. Furthermore, while navigating the NFT Exhibition on the Decentralized Planet, users have the ease of accessing the trade ...

Jim Rickards, an economist and investment banker, has warned about the establishment of a social credit system powered by the issuance of a central bank digital currency (CBDC). According to Rickards, this combination could be used to restrict the civil liberties of Americans by limiting their capabilities to travel and their reach on social media platforms. Jim Rickards on a Hypothetical CBDC-Fueled Social Credit System: ‘Yes, It Can Happen Here’ Jim Rickards, an economist with more than 40 years of experience in investment banking, has warned about a hypothetical social credit system in the U.S. powered by a central bank digital currency (CBDC). In his latest article , Rickards explains that issuing a CBDC would allow the government to get the data needed to construct such a system. Rickards stated that the information collected by monitoring transactions on a CBDC would facilitate “the creation of a social credit system that allows governments to punish those who engage in unapp...