BITCOIN

Economist and gold bug Peter Schiff says bitcoin still has a long way to fall after the collapse of crypto exchange FTX. He also believes that $10K is the real price of bitcoin, warning that “The lion’s share of the selling has not even started yet.” Schiff Predicts ‘Bitcoin Still Has a Long Way to Fall’ Gold bug and economist Peter Schiff has warned in a series of tweets about the price of bitcoin falling a long way from its current level. He began by referencing the forecast he made in June that the need to sell bitcoin to pay bills will only get worse as the recession deepens and long-term BTC holders without paychecks are forced to sell. Noting that it did not take long for his prediction to come true, Schiff tweeted Wednesday: The lion’s share of the selling has not even started yet. Bitcoin still has a long way to fall. He added in a follow-up tweet: “I’ve been warning for years that all the people who made money in crypto will be sued by all the people who lost money in

Nine major financial institutions and the Federal Reserve Bank of New York have started to experiment with a digital dollar proof of concept to see if distributed ledger technology can improve settlement between central banks, commercial banks, and regulated non-banks. The New York Fed details that the proof of concept will be done in a test environment and it will only leverage simulated data. The central bank’s New York branch further insists that the test is “not intended to advance any specific policy outcome.” New York Fed Reveals 12-Week Proof of Concept to Test the Banks’ Regulated Liability Network During the first week of November, Bitcoin.com News reported on the Federal Reserve Bank of New York completing the first phase of the digital dollar experiment called “Project Cedar.” The central bank’s New York branch is the second central bank digital currency (CBDC) project following MIT’s and Federal Reserve Bank of Boston’s “ Project Hamilton ” project. The last report conc