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05 December 2022 - 11 December 2022 week Bitcoin & Economic News

Dec 11, 2022

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Bitcoin News

TL;DR
A Bitcoin Technology Center in Ghana is launching
Strike now lets Africans receive instant, zero-fee remittance payments in local currency with the Bitcoin Lightning Network

A Bitcoin Technology Center in Ghana is launching
The Built With Bitcoin Foundation (BWB) has unveiled a new Bitcoin Technology Center in the city of Ejisu, Ghana, as part of the legacy of the inaugural Africa Bitcoin Conference. The center will be run by and for the benefit of the local community in Ghana.
The Bitcoin Technology Center’s main objective is to provide the local community with knowledge and skills related to the financial and technology sectors. It also aims to foster community and a secure learning environment.
The center plans to educate and train up to 400 people in its first year and the facility will be open to everyone. The website will host monthly meetups in addition to offering education and training.
Strike now lets Africans receive instant, zero-fee remittance payments in local currency with the Bitcoin Lightning Network
Bitcoin payments app Strike said in a statement Tuesday that it had launched Send Globally, a new feature that lets U.S. users instantly and cheaply send money to Africa.
“With exorbitant fees to transfer funds in and out of Africa and incumbent providers halting services, payments companies are struggling to operate in Africa and people cannot send money home to their family members,” said Jack Mallers, Strike founder and CEO, in a statement. “Strike offers an opportunity for people to transfer their US dollars easily and instantly across borders.”
The remittances service is initially enabling people in Nigeria, Kenya and Ghana to receive money from the U.S. and instantly convert it to their local currency. The feature is made possible thanks to a partnership between Strike and local Bitcoin app Bitnob.
“The current financial system isn’t set up in a way that ensures equal access for people and institutions from Africa,” said Bernard Parah, founder and CEO of Bitnob, in a statement. “What we have built reduces the pressure on our financial institutions in sourcing USD liquidity. People can now easily exchange value from the US to people in Africa in the cheapest way possible. We can now save people sending money back home to Africa billions of USD in transfer fees.”

Global Economic News

TL;DR
Will there be a recession in the US or not?
Signs about the spreading CBDCs

Will there be a recession in the US or not?
I see that in the US some economists are confused about the upcoming economic future. Some say it will be a recession, some say it won’t be one. Let’s see what the data shows to us:
“CEO business confidence seems to be reliable contrarian indicator. We will find out soon if it’s different this time. (Goldman Sachs)” by Michael A. Arouet, CFO and M&A background
“The US is NOT going into recession, while Europe is. Best way to see this is to look at services PMIs (red), which are holding up well in the US (lhs), but are falling sharply along with the manufacturing PMI in Germany (rhs). Markets have recession risk all wrong…” by Robin Brooks, Chief Economist at IIF
“We're officially in panic mode. This level has seen exceptional market returns in a 6-12 month period since 1990. The only exception was 2002.” by Game of Trades, Data-driven Investment Research
“It has been one of those years …” by Wall Street Silver
“Major Yield Curve Inversion right now is suggesting big Recession in 2023. Last time Yield Curve was this inverted was 1981. Right before the unemployment rate went to 10%.” by Nick Gerli, CEO & Founder of Reventure Consulting - More details in his Twitter thread.
“Used car prices are now down over 14% in the past year, the largest YoY decline on record with data going back to 2009. This was a leading indicator of higher inflation rates in 2020 and the recent downturn is likely a leading indicator of lower inflation rates to come.” by Charlie Bilello, Founder and CEO of Compound Capital Advisors
“The bond market is signaling that a huge policy error is happening … Biggest yield curve inversion since 1980” by Wall Street Silver
BlackRock says get ready for a recession unlike any other and “what worked in the past won't work now”. The 70+ years of friendship between the US and the Saudi’s seems to have come to an end: Saudi Arabia and China have signed a Comprehensive Strategic Partnership Agreement. There is a possibility that the US will not only face expensive market driven oil prices, but simultaneously with empty Strategic reserves too.
Related Zerohedge articles: Major Economic Contraction Coming In 2023... Followed By Even More Inflation and 9 Million Millennials Moved Back In With Their Parents This Year.
Signs about the spreading CBDCs
“UK Treasury: We will be consulting on a UK Retail Central Bank digital currency alongside The Bank of England in the coming weeks.”
According to Bitcoin Magazine: The EU is trying to ban cash transactions over €10,000 and allow member states to impose lower limits if they wish.

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These are just speculations, no investment advice!

“Bitcoin still below Realized price ($20K), 2Y Realized price ($33K) and Short Term holder price ($18K). Historically this situation does not last long.” by PlanB

"Did you notice the pattern with #Bitcoin yearly price candles? Every 4 years they dip, but then they come back stronger than ever. HODL on to your BTC!" by @ChartsBTC

“You don't want to miss this. Bitcoin % supply in profit has finally entered the green zone i.e below 50%” by @GameofTrades_

“Bitcoin 3-Day MACD Bull Cross confirmed” by @MatthewHyland_

“We have indeed seen a real black swan event, the FTX bankruptcy. The history of BTC is lined with such events and the market will recover from it as it did in the past.” by @StockmoneyL

“A small move up and then let it all go down. “ by @profit8lue

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Bitcoin Shorts

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