FameEX Morning Crypto News Recap | July 10, 2023

Bitcoin Mining Difficulty Poised to Skyrocket: Anticipating Unprecedented Surge, Nullifying Recent Decrease
The upcoming Bitcoin difficulty adjustment is expected to increase by approximately 4.74% to 7.7%, negating the previous 3.26% decrease. On July 8, the network hashrate hit a new 24-hour peak of 538 exahash per second (EH/s) at block height 797,733.

ECB's Lagarde Concedes: Eurozone Inflation to Exceed 2% Target for Next 2 Years
Eurozone inflation, although showing a decline, is predicted to remain above the target in the next two years, as stated by the European Central Bank's governor. To address this, further measures are needed. Despite stable consumer expectations, efforts are required to control the persistent inflationary trend.

Dollar's Value Continues to Erode: Renowned Investor Jim Rogers Warns of Suffering Ahead for the US
Jim Rogers, an experienced investor and co-founder of the Quantum Fund, cautions that the U.S. economy is in for more challenges ahead. Predicting further erosion of the dollar's value, he emphasizes that inflation and debt issues will worsen, leading to a period of suffering for the United States.

Crypto Industry Flourishes with 10,000 Companies and 190,000 Professionals, Garnering a Combined Valuation of $180 Billion
According to a recent report by K33 Research, the cryptocurrency industry comprises around 10,000 companies and employs approximately 190,000 professionals as of July 2023. The report further emphasizes that these companies collectively hold a valuation of $180 billion, providing a comprehensive overview of the crypto landscape.

US Dollar Dominance Unaffected by BRICS Currency, Says Treasury Secretary Yellen
US Treasury Secretary Janet Yellen asserts that the dominance of the US dollar remains unchallenged, including by the proposed BRICS currency. Yellen emphasizes that current data overwhelmingly shows the dollar being extensively used in global transactions, stating that there is no viable alternative that could replace it in the foreseeable future.

World Gold Council's Mid-Year Report: Gold Poised for a Neutral Second Half Amid Economic Uncertainty
The World Gold Council's 2023 Mid-Year Outlook suggests that gold is expected to have a more neutral second half following a strong start. Researchers and strategists from the WGC note that central banks are nearing the end of tightening cycles, while market consensus predicts a mild contraction in the US later in 2023.

JPMorgan Analysts: Spot Bitcoin ETF Approval Unlikely to Have Significant Impact on Crypto Markets
JPMorgan analysts state that the approval of a spot bitcoin exchange-traded fund (ETF) by the SEC is unlikely to significantly impact crypto markets. They highlight that while similar ETFs exist internationally, they have not gained substantial popularity among investors.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.