BITCOIN

Walmart’s global chief technology officer has revealed crypto’s role in the retail giant’s future. “Crypto will become an important part of how customers transact,” the executive said. “We want to make sure that we make it as friction free for customers to be able to transact.” Executive Discusses Crypto in Walmart’s Future Walmart Global Chief Technology Officer and Chief Development Officer Suresh Kumar discussed cryptocurrency at Yahoo Finance’s All Markets Summit Tuesday. Replying to a question about the role of crypto in Walmart’s future, Kumar said: “I think that there are three major areas of disruption. Crypto falls in sort of the middle of it. I have talked before about the way in which customers are getting inspired and discovering products. That is changing.” He continued: “Part of that is going to happen in the metaverse. Part of that is going to happen on live streams, inside your social media app. So whether it is physical goods or virtual goods, they [crypto] play a

The CEO of global investment bank Goldman Sachs, David Solomon, sees a good chance of a U.S. recession. He stressed that the “environment heading into 2023 is one that you’ve got to be cautious and prepared for.” Goldman Sachs CEO Warns About U.S. Recession, Advises Investors to Be Cautious Goldman Sachs CEO David Solomon warned about where the U.S. economy is headed in an interview with CNBC Tuesday. He said: I think it’s a time to be cautious, and I think that if you’re running a risk-based business, it’s a time to think more cautiously about your risk box, your risk appetite. “I think you have to expect that there’s more volatility on the horizon now,” the Goldman CEO continued. “That doesn’t mean for sure that we have a really difficult economic scenario. But on the distribution of outcomes, there’s a good chance that we have a recession in the United States.” However, the executive noted: “The fundamentals really don’t change. The leadership does move to different places,

Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, expects the bear market to get much worse, adding that this recession will be the worst in his lifetime. “We are probably going to have one last rally but that will be it,” he predicted. “Then we are coming to the end of the line. Be worried.” Jim Rogers on the Worst Recession in His Lifetime Famed investor Jim Rogers shared his view about the U.S. economy in an interview with Business Today, published Monday. Rogers is George Soros’ former business partner who co-founded the Quantum Fund and Soros Fund Management. He was asked if right now is “the beginning of an impending recession, the worst ever like it’s been predicted by some.” Rogers replied: Well, before this is over, yes, it’s going to be the worst in my lifetime. “In 2008, we had a problem because of too much debt,” he explained. “But since 2009, the debt everywhere, everywhere, has skyrocketed. So the next problem has

Monero raced to its highest point in ten days, as the token moved past a key resistance level on Wednesday. Today’s move sees the token rise higher for a fourth consecutive day, following a rebound from its long-term floor. Aave was also in the green, as it remained close to a five-week peak. Monero ( XMR ) Despite cryptocurrency markets mostly trading lower on Wednesday, monero ( XMR ) was one of the exceptions, as it extended recent gains. XMR /USD surged to an intraday peak of $148.46 earlier in today’s session, which comes less than 24 hours after it was trading at a low of $145.41. Today’s move sees monero in the green for the fourth straight session, resulting in prices hitting their highest point since October 9. Looking at the chart, hump day’s peak came following a breakout of a key resistance point of $147.00. Another key observation can be seen from the 14-day relative strength index (RSI), which also moved past a ceiling of its own, at 52.75. As of writing, the inde

On Tuesday, October 18, researchers from the crypto analysis platform Cryptoquant identified an outflow of 48,000 bitcoin coming from the trading platform Coinbase Pro. According to the researcher’s summary of the situation, a large portion of the funds were old coins. Whale Transfers 48,000 Bitcoin Amid Coiled Market While bitcoin (BTC) has been trading under the $20K region and trading sideways, observers have witnessed a number of old coins move onchain. The onchain movement comes at a time when market volatility is expected. For instance, the latest Glassnode Insights report called “A Coiled Spring,” expects some bitcoin price fluctuations to occur in the near future. “The bitcoin market is primed for volatility, with both realized and options implied volatility falling to historical lows,” Glassnode wrote on October 17. “Futures open interest has hit new all-time-highs, despite liquidations being at all-time-lows. Volatility is likely on the horizon, and Bitcoin prices rare

Ethereum was back below the $1,300 level on Wednesday, as the U.S. dollar rose following better than expected quarterly earnings. So far this earnings season, Netflix, Bank of America, and others have outperformed expectations, highlighting what some view as the resilience of the U.S. economy, despite the global slowdown. Bitcoin was also back in the red. Bitcoin Bitcoin ( BTC ) was trading lower on Wednesday, as prices continued to decline following a failed breakout of a resistance at $19,550. Following a high of $19,655.75 on Tuesday, which saw BTC /USD move past the aforementioned ceiling, prices slipped to a low of $19,144.77 earlier today. Wednesday’s drop sees the token move closer to a breakout below $19,000, with bears likely targeting a floor of $18,900. Bearish sentiment has largely been present during what many are calling “red October,” with BTC trading below $20,000 for the majority of the month thus far. Looking at the chart, the 10-day (red) moving average has e

Authorities in Brussels are taking steps to reduce power consumption, including in cryptocurrency mining, as the EU faces limited energy supplies from Russia, the reliance on which it has been trying to lower. New energy efficiency labeling is to address the growing electricity usage in the crypto sector. EU to Develop Energy Efficiency Label for Data Centers Amid Increasing Consumption in Mining The European Union plans to introduce a label for energy efficiency in efforts to counter the growing electricity consumption in data centers such as those mining cryptocurrencies. According to Bloomberg, the EU will also urge member states to target crypto miners’ energy usage as it seeks to navigate the winter with far less Russian gas and other energy than before the sanctions imposed over the war in Ukraine. Quoting a draft proposal, the report revealed that the EU’s executive arm wants to work with international partners to adopt a grading measure that will encourage more environmenta