With crypto losing nearly $2 trillion in value, economists are keeping a closer eye on how it could impact our economy. According to NBC, some experts don’t see it having a high impact since banks haven’t been that exposed to crypto. “They all have their crypto divisions, but betting the bank on it? I really don’t think they have,” Joshua Gans, an economist at the University of Toronto, said. Even if a bank has taken on too much crypto risk, he added, “One idiotic bank we can handle.” Experts say things could get worse for many cryptocurrencies, including Bitcoin. Katie Stockton of Fairlead Strategies told Business Insider that if Bitcoin fails to decisively hold $27,200 as support, defined as two weekly Friday closes below that level, then the cryptocurrency could fall another 40% from current levels to $18,300.

 

Business Insider/Matthew Fox
Bitcoin could fall another 40% if it fails to hold the key support level of $27,000, Fairlead’s Katie Stockton says

Bitcoin’s months-long decline has led the cryptocurrency to recently test and so far hold an important support level at $27,200, Fairlead Strategies’ Katie Stockton highlighted in a note on Monday.

The decline in bitcoin and other cryptocurrencies accelerated over the past week following the implosion of Terra, an algorithmic based stablecoin that broke the buck and fell more than 90%. The failure of that stablecoin tested the confidence of crypto investors and drove a brief dip in bitcoin to as low as $25,401.

Bitcoin has since recovered and is trading above the important psychological price point of $30,000 as of Tuesday morning.

You can read the full story, here.

 

The Great Recession/David Haggith
The Fed is Still Spiking the Inflation Punch Bowl, but the Party is in Recess Anyway

Sizzling inflation is not going away as drunken market revelers are hoping. This party bore, in fact, will be long outstaying her welcome. While the Fed once said it wanted some hot inflation on the scene, she arrived a lot hotter and has stayed a lot longer than Father Fed expected — now kind of embarrassing the old man. I’m going to tell you why inflation won’t be leaving anytime soon nor cooling off but will escort us into the recession we are already staggering into.

Three weeks ago, Deutsche Bank shocked the polite world of finance – where nobody dares to tell the truth if the truth is unpleasant and runs counter to the commission-boosting bias of being bullish on everything – when it became the first Wall Street bank to officially make a US recession in late 2023 its base case.

The only problem with Deutsche’s realization — first of its kind in the world of far-flung finance as it was — is that DB came up with it back on April 5th. Late 2023 made them the earliest date anyone was talking about. That would be a safe bet since it remains a year and a half from now! The problem I’m referring to, though, is that only a couple of weeks after they made that brazen prediction, the first quarter of 2022 came in recessionary. Nice to be early at being way late to the party!

Read the full story, here.

 

CryptoMode/Amaury Reynolds
The Main Benefits Of Investing In Gold

Investing in gold has been around for centuries, and for good reason. Gold is a rare commodity that is not only valuable but also durable and portable. Gold can be used as a currency, an investment, and jewelry. Below are some of the main benefits of investing in gold.

When it comes to investment, the old adage “don’t put all your eggs in one basket” is sage advice. Diversification is key to mitigating risk and maximizing returns, and gold can play an important role in a well-rounded investment portfolio.

Gold is an excellent diversification tool for a number of reasons. It is a hedge against inflation, a safe haven asset, and it adds diversification to an investment portfolio. Here are other reasons why you should consider adding gold to your investment options:

Continue reading, here.

 

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