BRICS Nations ‘Coalescing Against the Dollar,’ Major Banks Predict More Fed Hikes, Bitcoin Records Large Blocks as Ordinals Gain Currency

BRICS Nations "Coalescing Against the Dollar," Major Banks Predict More Fed Hikes, Bitcoin Records Large Blocks as Ordinals Gain Currency

In spite of turbulence in traditional global finance, with BRICS nations said to be pushing for de-dollarization and major banks like Bank of America and Goldman Sachs predicting further interest rate hikes from the U.S. Federal Reserve, creativity in crypto has found a new boon in the form of controversial inscriptions, called Ordinals, on the Bitcoin blockchain. All this and more, just below, in the latest Bitcoin.com News Week in Review.

Expert Predicts Looming Economic Collapse as BRICS Nations Unite Against the Dollar

Andy Schectman, CEO of Miles Franklin Precious Metals Investments, explained in a recent interview that the five leading emerging economies — Brazil, Russia, India, China, and South Africa, collectively known as BRICS nations — are “coalescing against the dollar.” Schectman believes that since 2022, de-dollarization “seems to be spinning much, much faster.”

Read More

Bank of America, Goldman Sachs, JPMorgan, UBS Share Predictions About Further Fed Rate Hikes

Bank of America, Goldman Sachs, JPMorgan, and UBS have shared their predictions about the Federal Reserve raising interest rates further. Bank of America and Goldman Sachs, for example, now expect the Fed to raise interest rates three more times this year.

Read More

Economist Warns the Fed Can’t Reach Inflation Target Without ‘Crushing’ US Economy

Economist Mohamed El-Erian, Allianz’s chief economic advisor and chair of Gramercy Funds Management, has warned that the Federal Reserve cannot achieve its 2% inflation target without crushing the U.S. economy. “You need a higher stable inflation rate. Call it 3% to 4%,” the economist suggested.

Read More

Bitcoin Continues to Record 3.75 MB Blocks as Ordinals Increase

As Ordinal inscriptions approached the 150,000 mark, blocks larger than 3 MB have become commonplace, with many blocks near the 4 MB range. Meanwhile, after the average transaction fee on-chain rose 122% higher at the beginning of February 2023, the average fee has remained the same over the last few weeks.

Read More Tags in this story Andy Schectman, Block Size, brics, collapse, de-dollarization, Federal Reserve, inflation, interest rate, major banks, NFTs, ordinals, US economy

What are your thoughts on this week’s hottest stories from Bitcoin.com News? Be sure to let us know in the comments section below. Bitcoin.com

Since 2015, Bitcoin.com has been a global leader in introducing newcomers to crypto. Featuring accessible educational materials, timely and objective news, and intuitive self-custodial products, we make it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance. SEC Clampdown Has Crypto Space Abuzz, Pantera Capital Says We"re in Bull Market, and Much More — Week in Review THE WEEKLY | Feb 19, 2023 Ark Invest on $1.4M BTC, Possible Julian Assange-Linked File on Bitcoin Blockchain — Week in Review THE WEEKLY | Feb 12, 2023

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSouth Africa Added to FATF ‘Grey List’ Despite Designation of Crypto as a Financial Product Next article5 High-Profile Cryptocurrency Implosions Shatter Trust, Wipe out Billions in Value During 2022’s Crypto Winter Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.Today"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Iran to Increase Penalties for Unauthorized Cryptocurrency Mining Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin