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Economy And The Numbers

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john-mcafee-crypto-052318.jpg Internet security expert and cryptocurrency enthusiast John McAfee has come back with yet another bullish prediction on the crypto market. "Institutional investors are preparing to enter the cryptocurrency market with a vengeance. They are generally long term investors and will be pumping billions into the market", McAfee, the founder of the computer anti-virus company named after him, tweeted.

cryptos-may23.jpg Bitcoin and its peers drifted lower for a third day as market sentiment remained damped due to regulatory concerns and gloomy predictions dwarfed the boost from positive remarks. Here is wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.

robert-shiller-broken-bitcoin-0523189.jpg Robert Shiller, a Nobel laureate, said cryptocurrencies could turn out to be just another failed currency experiment. "As in the past, the public's fascination with cryptocurrencies is tied to a sort of mystery, like the mystery of the value of money itself, consisting in the new money's connection to advanced science," Shiller wrote in a blog on the Project Syndicate website.

new-home-sales-052318.jpg A report released by the Commerce Department on Wednesday showed a pullback in new home sales in the U.S. in the month of April. The report said new home sales fell by 1.5 percent to an annual rate of 662,000 in April after jumping by 2 percent to a revised rate of 672,000 in March.

altcoin-052318.jpg Altcoin means alternative coin and it is any cryptocurrency other than Bitcoin. Bitcoin is the first cryptocurrency and altcoins followed. Some are built on the same distributed ledger technology as Bitcoin, while others are created on new platforms such as Ethereum and IOTA.

eurozonepmi-052318.jpg Eurozone private sector grew at the weakest pace in one-and-a-half years in May with the rate of expansion slowing for the fourth consecutive month, flash survey data from IHS Markit showed Wednesday. The composite output index dropped to an 18-month low of 54.1 in May from 55.1 in April. The score was forecast to remain unchanged at 55.1. Nonetheless, a reading above 50 indicates growth.

uk-cpi-052318.jpg UK inflation continued to slow to reach a 13-month low in April, driven by air fares, adding doubts about the timing of the next rate hike by the Bank of England. Consumer prices climbed 2.4 percent year-on-year in April, slightly slower than the 2.5 percent increase seen in March, the Office for National Statistics reported Wednesday.

bitcoinslips-may23.jpg As the global cryptocurrency community and Italian food enthusiasts celebrate Bitcoin Pizza Day, most major virtual currencies are in the red. Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin suffered loss in value simultaneously, while Bitcoin's fall was sudden. The most popular cryptocurrency fell from a comfortable position on Monday, when it was trading for about $8,500 and was showing

Brazil's consumer confidence weakened in May to the lowest level in seven months, figures from the FGV IBRE showed Wednesday. The consumer confidence index fell to 86.9 in May from 89.4 in April. Moreover, this was the weakest reading since October last year, when it marked 85.8. The current...

Denmark's consumer confidence improved in April to the highest level in ten months, survey figures from Statistics Denmark showed Wednesday. The consumer confidence index climbed to 9.3 in April from 7.1 in the previous month. Moreover, this was the highest reading since July last year, when it...

British retail sales grew at a moderate pace in May, the latest Distributive Trades Survey from the Confederation of British Industry showed Wednesday. A balance of 11 percent reported an increase in retail sales in May. However, a net 11 percent expects sales to fall next month. A cold start to...

vanguarddown-may22.jpg An economist at one of the world's leading investment companies predicted that there was a high likelihood of Bitcoin becoming worthless. "I see a decent probability that its [Bitcoin's] price goes to zero," Joe Davis, the global chief economist at Vanguard, said in an op-ed in ETF.com. That said, Davis was enthusiastic about the blockchain.

Hungary's employee wage growth eased at a faster-than-expected pace in March, figures from the Hungarian Central Statistical Office showed Wednesday. Gross earnings advanced 11.3 percent year-over-year in March, slower than the 11.9 percent rise in February. Economists had expected the growth to moderate...

Latvia's producer price inflation accelerated for the fourth successive month in April, figures from the Central Statistical Bureau showed Wednesday. Industrial producer prices climbed 4.0 percent year-over-year in April, faster than the 3.5 percent increase in March. The measure has been rising since...

British house price inflation held steady in March after easing in the previous two months, figures from the Office for National Statistics showed Wednesday. The house price index climbed 4.2 percent year-over-year in March, the same rate of rise as in February, which was revised down from a 4.4 percent...

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