Shapella Upgrade Hits, Economist Predicts Biggest Crash ‘in Your Lifetime,’ US Bank Lending Plummets — Week in Review – The Weekly Bitcoin News
In crypto news this week, the long-awaited Shapella upgrade of the Ethereum network has gone into effect, unlocking accumulated ether. In the broader financial world, economist Harry Dent predicted a massive crash by mid-June, bank lending fell by a record $105 billion in two weeks, and the ability of the US dollar to maintain its value even in the short term is back on track. They were called. All this and more below, in Bitcoin.com News Week in Review.
The Shapella upgrade from Ethereum unlocks the 860k-plus ether stack ETH Preparing to withdraw, prices rise by 6%
On Wednesday, April 12, 2023, at 6:30 PM ET, Ethereum’s Shapella upgrade was successfully implemented, enabling validators to withdraw accumulated Ether. The data reveals that more than 860,000 Ethers are about to open, with 77,000 Ethers expected to be withdrawn on Thursday. The price of Ether has seen a rally, gaining 6% against the US dollar over the past 24 hours.
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Economist Harry Dent expects the biggest crash of our lives to occur between now and mid-June
Harry Dent, economist and author of several best-selling books, warned that the biggest crash of our lives “will strike between now and mid-June.” He asserted, “People will know this isn’t a huge correction — it’s a major crash, one you’ve never seen … in your life.”
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US bank lending drops by $105 billion in two weeks, trillions move into money market accounts, and Elon Musk warns that ‘the trend will accelerate’
The banking industry in the United States is still struggling after the collapse of three major banks. According to statistics, bank lending in the United States decreased by nearly $105 billion in the last two weeks of March, which is the largest decline ever. In addition, Elon Musk, the CEO of Tesla and owner of Twitter, recently commented on the withdrawal of trillions of dollars from banks to money market funds, insisting that “the trend will accelerate.”
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The investment manager warns that the US dollar could lose most of its value in 5 years
Investment manager Larry Leppard has warned that the US dollar could lose most of its value in five to ten years. After the war broke out between Russia and Ukraine, “the United States did something that I thought was very stupid, which was that they seized $600 billion of Russian currency reserves, and that sent a message to every other country in the world that the executive’s description said the United States doesn’t like what you’re doing,” he said. They can take your money.
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What do you think of Bitcoin.com News Week in this week’s review? Let us know in the comments section below.
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