Bitcoin dropped around 5% over last weekend, the week started at around $20,500 at time of writing. The downtrend in the crypto market persists, due to increased fears of an incoming recession. The google search volume of recession has skyrocketed in recent weeks.
The June jobs report, which was released last week, showed that employment is strong with high wage growth, increased the chance of a recession. This is because it results in a more aggressive Federal Reserve, who must fight to help minimise domestic inflation. A recession typically means that P/E multiples (which is what investors are willing to pay for a stock, given its earnings) would be compressed, resulting in a potential decrease in stock prices, therefore impacting crypto due to the currently high correlation.
Within the crypto ecosystem, concerns around a liquidity crisis have decreased. Justin Sun, the founder of the TRON protocol, which is one of the largest blockchain networks, said he’s ready to join Sam...
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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...