#inflation
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Elon Musk has shared his relatively indifferent stance towards cryptocurrencies, considering money primarily as a database for resource distribution. He opined that fiat currencies are quite capable of serving this purpose effectively, provided that governments don't abuse the system and fuel inflation. 
The current market landscape marks an unprecedented decline in liquidity, according to Bloomberg Intelligence's senior macro strategist, Mike McGlone.
If this pattern holds throughout 2023, he warns of a potential sharp descent in Bitcoin prices, which would ripple through Ethereum, XRP, and the general cryptocurrency domain.
“What should be early indications of recessionary times? The best indication should be bitcoin and that’s where I’m looking for the bleeding occasion from bitcoin and it’s still kind of showing what I expected.”
“Picture December: Recession looms, Fed hesitates on easing due to inflation,” said McGlone. 
Their economists anticipate a reduction in interest rates by late June next year, following a gradual quarterly decrease pattern.
“The cuts in our forecast are driven by the desire to normalize the funds rate from a restrictive level once inflation is closer to the target,” says Jan Hatzius, a senior economist at Goldman.
Goldman forecasts rate cuts in Q2 2024, expecting 25 basis point reductions per quarter with pace uncertainties.
“We expect the funds rate to eventually stabilize at 3-3.25%,” say their economists. BTC and PAXG Chart Analysis for July 12, 2023
In light of the US inflation data set for release on July 12 at 8:30 AM ET (12:30 PM UTC), it's captivating to assess the state of market assets like gold, along with Bitcoin. Here's our breakdown of the market conditions for the cryptocurrencies Bitcoin (BTC) and PAXG (Pax Gold). People's wealth will be destroyed by inflation, says Arthur Hayes
Arthur Hayes, a well-known crypto entrepreneur and ex-founder of BitMEX, consistently voices his concerns about the issues currently troubling the industry. His prior forecast of a BTC price of $1 million no longer sounds as assertive as it once did. 
BlackRock CEO predicts: inflation & interest rates still rising
Current situation in the banking sector is described by Lawrence Fink as the "price of easy money." He believes that the collapse of Silicon Valley Bank could have led to a massive financial crisis, but the prompt response of regulators prevented serious consequences. 
• Growth in economic activity has slowed down.
• Job gains have decelerated, yet unemployment rates remain low.
• The U.S. banking system is sound and resilient.
• Stricter financial and credit conditions for households and businesses may influence economic activity, hiring, and inflation.
• The target inflation rate of 2% remains a constant goal. 
Gate users are raising concerns about suspected artificial inflation of trading data, pointing to irregular spikes in volume over the last week. For instance, on December 5, the total trading volume reportedly skyrocketed to nearly $4 billion, a stark contrast to other days where it seldom exceeded $1.5 billion. 
In the Argentine primary elections, Javier Milei, a candidate who supports Bitcoin and vehemently opposes the Central Bank, has garnered most of the votes.
He's not shy about criticizing the Central Bank, dubbing it a conduit for politicians to exploit Argentinians via inflation.
Milei is convinced that the salvation lies in Bitcoin, which can instill privacy back into finances.
Simultaneously, Bitcoin has hit a fresh historical maximum value when measured in Argentine peso. 
The US Consumer Price Index, which measures inflation, is set to be unveiled at 12:30 pm UTC.
Current index level: 3.0%
Forecast: 3.3%, marking a 0.3% CPI increase
Discover more about the CPI in our article.
Stay vigilant during potential market swings and approach trading wisely!
UPD: The rate of inflation in the United States has risen to 3.2%, a bit under the forecasted amount. Cryptocurrencies Trapped by High Interest Rates
Analytical company Nansen has issued a report examining the impact of inflation on both the traditional and cryptocurrency markets. Their experts forecast global growth following the conclusion of the era marked by interest rate hikes and the implementation of transparent regulation. Crypto Deposits: The Alternative to Traditional Banking
Fiat currencies are prone to constant devaluation and inflation. The interest rates on bank deposits are no longer sufficient to cover the rate of depreciation of such means of payment. Nonetheless, investing in crypto deposits is a popular tool that provides high returns. Coinbase to Launch Inflation-Proof Stablecoins
Coinbase has released a list of ideas for developers that it's eager to fund and implement within its advanced Base ecosystem fund. One of the most interesting ideas is the creation of "flatcoins," or more specifically, stablecoins pegged to inflation levels. 