Banking giant JPMorgan Chase in our crypto news today for making a bold prediction that there’s a 60 percent chance for the next recession to hit the USA by 2020 and crypto is seen as the best alternative as a store of value.
“The probability of a U.S. recession within one year is almost 28 percent, and rises to more than 60 percent over the next two years, researchers wrote in a note this week. Over the next three years, the odds are higher than 80 percent, according to the note,” according to JPMorgan Chase.
According to other analysts, there is even a bigger chance that the recession could occur by the end of 2019. Some of the indicators that show this could be the case include consumer sentiment, labor participation, and compensation growth.
The bigger part of the economist in the US believe this to be the case and according to a research director of the Federal Reserve Bank of Atlanta, predicted that almost two-thirds of the business economists expect that the market will crash due to trade issues.
Because many forecast a market crash in the next three years, the demand for crypto is increasing rapidly every day. Financial institutions such as Goldman Sachs have already established relationships with institutional investors so they can invest in the digital currency market. Banks, on the other hand, avoid doing business with cryptocurrencies because of lack of regulatory certainty.
Investors are likely to invest in cryptocurrencies in the following years because of the already experienced exponential growth. We can see rapid growth in e-commerce that allows users to buy anything with cryptocurrency and also cross-border transactions are growing which leads to a globalized marketplace that helps this trend to only go upwards.
Ripple And MoneyGram Join Forces: $50M Investment On The Way
“Through Ripple’s xRapid product, we will have the ability to instantly settle funds from U.S. dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.”As the website shows, MoneyGram is the second largest payments firm in the world. The coming altcoin news and its partnership with Ripple will also help the blockchain firm to gain presence in more than 200 countries (where MoneyGram actively operates). Much of the company's business lies in the remittances market, which value is estimated at around $600 billion. The CEO of Ripple, Brad Garlinghouse, also shared his excitement about the new Ripple and MoneyGram partnership, stating:
“This strategic partnership will enable MoneyGram to greatly improve its operations and enable millions of people around the world to benefit from its improved efficiency. This is a huge milestone in helping to transform cross-border payments and I look forward to a long-term, very strategic partnership between our companies."Payment processing and sending money globally through the blockchain are definitely something that can be improved with this new partnership. By joining Ripple's growing and global network, financial institutions can process their customers' payments anywhere in the world instantly, reliably as well as cost-effectively.
Europol Aims To Improve Blockchain And Crypto Knowledge
“Participants reflected on the legitimate use of blockchain technologies, including the use of cryptocurrencies for trading and investment activities, payment method and as a store of value.”As noted in the coming altcoin news, blockchain technology spiked the interest in business leaders and governments around the world. There will be a part of every business in the future consisted of blockchain since already some major companies such as Amazon, Google and Microsoft are all into the technology.
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