The post Market rebounds as Cardano founder raises concern of unlimited money printing appeared on BitcoinEthereumNews.com.

Japanese share market made a strong comeback on Tuesday after starting the week weak on the back of an interest rate hike. The regional rally undo the losses as Bitcoin also started trading above the $55K mark. Cardano founder Charles Hoskinson previously raised concerns that Japan could have wider implications on greater markets. He also underlined the “reality of unlimited money printing” and how markets are not above the monetary policy actions of central banks. Japanese markets recover with BTC above $55K Japanese market bounce back has sparked a regional rally on Tuesday, reversing some of the losses registered on Monday. Neil Newman, head of strategy at Astris Advisory in Tokyo, told CNN that this recovery is “typical after a market crash.” Newman also emphasized that the fundamentals of Japan’s economy are sound, making exiting from equities unlikely. 🚨 BREAKING 🚨 THE JAPANESE STOCK MARKET IS NOW UP 11.90% TODAY AFTER IT CRASHED OVER 12% YESTERDAY. REBOUND IS CRAZY BULLISH 🔥 U.S. FUTURES ARE UP 1.5% BITCOIN BACK ABOVE $55K WE SEE SO FCKING BACK !! pic.twitter.com/460Ou5KXSz — Ash Crypto (@Ashcryptoreal) August 6, 2024 Cardano founder Charles Hoskinson believes that Japan’s market action could have a cascading effect on global markets, including cryptocurrencies in the short run. He also criticized those who might blame project founders during such a market downturn, stating, “Markets are not above the reality of unlimited money printing, hundreds of false unicorns, and the Ponzi scheme that is the modern economy. Cryptocurrencies are the way out.” He suggested that the fiat currency will not be able to fight this cascading effect but real projects can “weather any storm decade by decade.” Hayes sees more trouble from TradFi The market rally spilled over in the US as the S&P 500 futures also rose at least 125 points…

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Filed under: News - @ August 6, 2024 10:16 am