Markets and news: April 29th, 2022

News in brief

Overall, the markets are experiencing some sobering from yesterday’s strong growth of between 2-3%. Among other things, the unexpected year-on-year decline of the US economy by 1.4% in 1Q versus the expected growth of 1% is having an adverse effect. Inflation in the euro area has risen to a new all-time high, forcing the European Central Bank to more actively reduce its stimulus programme and raise interest rates. Consumer prices in the euro area rose 7.5% year-on-year in April, in line with economists’ average estimates, according to data. Core inflation, which excludes energy and food prices, jumped to 3.5%. Energy remains a key factor influencing the CPI and is likely to continue to exert serious pressure on it.

Crypto markets

The enhanced volatility in the crypto market continued in the past 24 hours. Bitcoin tried its luck again at the level of $40,000 yesterday but was quickly rejected and now hangs below it. Ethereum traded above $3,000 last week but dipped below $2,800 a few days ago. Now it is below $2,900. PlatonCoin dropped slightly due to the expected minor correction of its previous growth.

Bitcoin (BTC) is now trading at 39,180 USD up by 0,4% in 24h

Ethereum (ETH) is now for 2,875 USD up by 0,2% in 24h

PlatonCoin (PLTC) is now for 0,901 USD down by 2,0% in 24h

Total marketcap is currently at 1.884 trillion USD down by 1,4% in 24h

(all data valid at the time of publishing, from Coingecko.com)

Crypto news

Kiyosaki and “Everything bubble”: Rich Dad Poor Dad author Robert Kiyosaki believes that a big depression could be on the horizon. According to Kiyosaki, the world’s mounting debts and the geopolitical tension between Russia and Ukraine could jumpstart a major economic downturn. “EVERYTHING BUBBLE turning into EVERYTHING BUST. Could this be start of biggest depression ever? I am concerned.” Kiyosaki also reveals that he is bullish on gold, silver and Bitcoin (BTC).

Goldman Sachs and crypto services: Wall Street is moving its feet closer into crypto, as Goldman Sachs offered its first bitcoin-backed loan on Thursday, according to Bloomberg News. The secured lending facility allowed a borrower to use bitcoin (BTC) as collateral for a cash loan. Under this arrangement, a bitcoin holder is able to obtain fiat money – U.S. dollars in exchange for putting up their BTC as collateral to the bank. Consequently. if the price of bitcoin drops, the borrower may be required to increase their collateral. In the event they fail to put up the necessary collateral, they risk liquidation.

Bitcoin whale and buying BTC: The third-largest Bitcoin (BTC) whale in the crypto world continues to feast as it makes more massive purchases of BTC. Data-tracking website BitInfoCharts says that this same whale is the biggest non-exchange entity in existence and has acquired a staggering 1,800 BTC in the past seven days. With Bitcoin currently trading for $39,854, the whale’s wallet now has an additional $71,737,200 worth of BTC. The total contents of the wallet are 125,552 Bitcoin, valued at approximately $4,999,829,118. The unnamed wallet has been on a colossal feeding frenzy this month, including scooping up 2,822 BTC last week for over $117 million.

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