Blockchain News
US Dollar Hegemony, Implications for Crypto
The greenback continues to strengthen as traders and investors turn to the U.S. dollar as a safe haven, fearing that the U.S. Federal Reserve’s (Fed) interest rate hikes will persist. The strengthening of the U.S. dollar is causing dollar-denominated debts to cost more to service in local currencies. The relative decline of the British pound and Euro threaten to harm Europe’s financial stability.
Tightening liquidity has also significantly impacted the crypto market. Bitcoin ($BTC) is struggling to stay above $19,000 and the total crypto market capitalization has dipped below the $1 trillion mark. Market volatility will prevent traders and investors from holding on to risk assets.
If the world sinks into a global recession, troubled financial institutions and banks might collapse. In the short term, Bitcoin would tank because it is categorized as a risk asset. However, Bitcoin has an alternative narrative to consider. It...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...