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FameEX Morning Crypto News Recap | August 7, 2023
2023-08-07 11:57:35
Miami Mayor Francis Suarez to Adopt Cryptocurrencies for 2024 Presidential Campaign
Miami Mayor Francis Suarez, running for the 2024 presidency, revealed his acceptance of cryptocurrencies for campaign donations on Coindesk TV on August 4, 2023. As the first Republican candidate to do so, he embraces digital currencies as a means of contributions.
JPMorgan Economists Optimistic About US Economic Resilience, Abandon Prior Recession Prediction
JPMorgan economists, headed by chief U.S. economist Michael Feroli, have abandoned their previous predictions of an imminent U.S. recession. Instead, they are optimistic about the American economy, foreseeing consistent growth throughout 2023 and 2024.
Russia Acknowledges Recognition of Foreign Digital Currencies
The Russian government has officially recognized digital currencies issued by other countries, as reported by local crypto media. This recognition comes in conjunction with the implementation of a new law governing the introduction of Russia's own digital ruble.Personal Finance Expert Anticipates US Rating Downgrade Will Bolster BRICS Currency Advocates
Personal finance expert Riley Adams suggests that the recent credit rating downgrade of the United States by Fitch, from AAA to AA+, may enhance backing for a BRICS currency. Nonetheless, Adams highlights the need to address specific geopolitical challenges before the BRICS currency can become a reality.
Elon Musk Firmly Rejects Launching Crypto Token
Elon Musk, the tech investor, responded to a post on his social media platform X (formerly Twitter), cautioning against fraudulent coin projects exploiting their names. He asserted that X will not develop its cryptocurrency token, unequivocally dismissing any plans for such an undertaking.
US ETFs Reflect Resurging Bitcoin Interest; Attention Grows on BTC's Scarce 'Hot Supply' Amid Bull Market Anticipation
The "How Many Bitcoin Are For Sale?" report by Glassnode examines bitcoin's availability for purchase, using exchange flows and on-chain metrics. It addresses the rising interest in bitcoin ETFs and offers insights into the cryptocurrency's demand and supply dynamics. The report was published on June 26, 2023.
Economist Peter Schiff Foresees Inevitable US Dollar Collapse
Economist Peter Schiff dismisses Fitch's U.S. credit rating downgrade as "meaningless" but cautions about an imminent U.S. dollar collapse. He attributes this potential crisis to the government's deficit spending trajectory and emphasizes the likelihood of a financial crash.
Bitcoin Price Ready for 'Full Bull' Run Next Month as 200-Week Trendline Holds Firm
On-chain analyst Cole Garner suggests that Bitcoin and the broader cryptocurrency market are poised for a classic breakout, supported by time-tested patterns observed in social media data analysis on August 6. Garner believes this indicates considerable upside potential for Bitcoin and other cryptocurrencies.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
