Alessio Rastani, a cryptocurrency analyst and trader, shares his outlook on crypto, stocks and the forex market for the next weeks.
Fiat Money News
Although the crypto space commonly uses the term, many folks may still wonder, “What is fiat money?” The fiat definition is fairly straightforward: Fiat money, also called fiat currency, refers to currencies put out by governing bodies and central banks. Fiat money examples include the U.S. dollar, the Chinese yuan and the Mexican peso. Governments control fiat, meaning it is a centralized form of money tied to the borders of each respective country, for the most part.
Different in its design and control, Bitcoin (BTC) is not a fiat currency. Bitcoin is borderless and decentralized, and governments neither issue nor control it. In general, cryptocurrencies are not fiat currencies, although some stablecoin assets represent certain fiat currencies in digital form.
Cryptocurrencies spur financial inclusion, protect against inflation and enhance the global economy despite the recession.182
Doom and gloom for some British pound investors is neatly avoided with a Bitcoin flight.6019
The U.S. dollar has been the clear winner as investors seek shelter in the largest global economy, but could the British pound's weakness be a positive for Bitcoin.10490
A time tunnel to November 2020 opens on BTC price action as the U.S. dollar lays waste to currencies and equities alike.10349
The Central Bank of Bahrain gives the nod to EazyPay, launching crypto payments for more than 5,000 payment gateways in the country.2350
Apart from USDC support, FV Bank also plans to launch a custody service in Q4 2022, targeting major coins like Bitcoin and Ethereum.6661
Some of the biggest flaws preventing present-day cryptocurrencies from mainstream adoption, pointed out by the BIS execs, are bottleneck congestion in DeFi and the reliance on volatile assets.4274
Bitcoin is working as a hedge against inflation despite its 2022 weak price performance, says Steven Lubka, managing director of private clients at Swan Bitcoin.4120
Author and psychologist Jordan Peterson said that hyperinflation hurts those who are the pillars of society.10308
While cash is associated with more anonymity, it’s still less mobile and easy to use in large amounts than a digital currency, China’s CBDC project lead Mu Changchun said.1449
Weekly Bitcoin trading volumes in the Philippines peso grew steadily on Paxful this year and eventually hit a new high in July.2737
Thousands of Sri Lankans took to the streets of Colombo in protest of the government’s response to the economic situation in the country.2676
Binance's self-custodial crypto wallet Trust Wallet aims to enable the purchase of more than 200 digital assets with 40 fiat currencies via Binance Connect, formerly known as Bifinity.4740
Tether expects to be part of industry innovation in the United Kingdom as the country is planning to adopt stablecoins as a means of payment.5166