Bitcoin as a global standard would be an 'absolute economic catastrophe' - Ernst & Young's global blockchain leader
(Kitco News) - If Bitcoin were to become a global monetary standard, it would be an "absolute economic catastrophe," said Ernst & Young's global blockchain leader Paul Brody.
Crypto winter impact: 50% drop in the number of active crypto users, says Bank of America
(Kitco News) - The crypto bear market is directly impacting the still very new industry, with Bank of America reporting a more than 50% drop in the number of active crypto users between its peak of one million in November and just 500,000 users in May.
Fed to err on the side of too many rate hikes: Why is gold at $1,800?
(Kitco News) - Markets are anticipating the Federal Reserve to err on the side of tightening, with Chair Jerome Powell admitting this week that the real mistake would be failing to get inflation under control.
Bitcoin closes June down 40% and below $20k as markets see recession fears, contagion risks
(Kitco News) - The world's largest cryptocurrency is down 40% in June, ending the month below its key level of $20,000. The markets are downbeat as the focus shifts to rising recession fears and more contagion risks in the crypto space.
Gold price jumps as Fed's preferred inflation indicator shows signs of cooling
(Kitco News) - Gold jumped after the U.S. annual core PCE price index came in at 4.7% in May versus the consensus forecast of 4.8%.
Crypto risks 'elevated,' Bitcoin's next price support is below $14k, Ethereum's is below $500 Fairlead Strategies
(Kitco News) - Despite being known for its volatility, Bitcoin's price action has been fairly muted as the world's largest cryptocurrency is grasping at straws to hold the $20,000 level following June's selloff. And if this support level fails, it could open the door to $14,000, according to Fairlead Strategies.
Robert Kiyosaki is waiting for Bitcoin price to drop to $1,100: 'if it recovers, I will buy more'
(Kitco News) - As Bitcoin struggles to hold the $20,000 mark, the best-selling author of 'Rich Dad Poor Dad,' Robert Kiyosaki, says he is waiting for Bitcoin to test $1,100.
Fed's Powell: There is a risk the Fed could go too far, but clock is running to bring inflation down
(Kitco News) - There is a risk the U.S. central bank will go too far with its rate hike cycle when battling inflation, but the bigger risk would be failing to restore price stability, said Federal Reserve Chair Jerome Powell.
Forget June's crypto crash, this is the event to watch in digital assets this year
(Kitco News) - With the crypto market dramatically crashing in June, one major event has been relegated to the background. Yet, it's the one to watch this year as it could send massive ripple effects throughout the crypto space and even end the crypto winter, according to analysts.
Gold price to revert to tracking real yields for the rest of 2022 Standard Chartered
(Kitco News) - Gold is stuck between an aggressive Federal Reserve and fears of entrenched inflation, said Standard Chartered, projecting that the precious metal will go back to tracking the real yields closely for the rest of 2022.
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