![]() ![]() ![]() That’s according to one strategist, who warns the world’s top cryptocurrency is likely to tank as. It appears, however, that a tweet from Tesla CEO Elon Musk, some words of caution from Treasury Secretary. James RICKARDS / Big Drop How to grow your wealth during the coming. "So, while Australia's major banks remain strong and resilient, pressure on net interest margins, combined with the increasingly uncertain operating environment, means they face a complex high-wire balancing act when it comes to managing profitable growth, customer expectations, investment priorities and shareholder returns. If crypto’s past bubbles are anything to go by, bitcoin could be about to fall much further. ‘It could get really bad’ - Bitcoin expert warns of IMMINENT DROP in cryptocurrency price BITCOIN’s (BTC) price dipped below 6,500 (£5,026) yesterday as it fell below a key price. Angela Lang/CNET Bitcoin reached the milestone of a 1 trillion market cap last week. Jim rikards Jim Rickards warns that were weeks away from a horrible collapse. "However, intense competition in response to retail credit growth compression, coupled with rising funding costs, amplified by the recent dislocation in financial markets, will likely erode the benefits the banks have gained from the higher interest rate environment. The resilience of the Australian economy continued to support credit growth and quality throughout the first half of the year," said EY Oceania Banking and Capital Markets Leader, Doug Nixon. In January, he said that BTC has replaced gold as an inflation hedge for millennials. "Australia's major banks are walking a tightrope as headwinds for the sector intensify. The professor has been noting the rise in popularity of bitcoin for quite some time. Analysis from EY shows Australia's big four banks reported combined statutory earnings of $16.77 billion in their half-yearly results - a 10.8% increase compared to this time last year.īut EY says the major banks are walking a "challenging tightrope" and will have to manage competing demands from investors, customers, regulators and government in "an increasingly uncertain and volatile backdrop".ĮY says cash rate rises are boosting revenues and net interest margins, while higher earnings have pushed up return on equity, although some signs of mortgage stress are emerging. Third, we discussed the central bank of China, the PBoC, cutting its reserve requirement ratio (RRR) by 50 basis points (bps) and the default of Evergrande. Bitcoin has been tightly correlated with the stock market since the start of 2020. ![]()
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