FameEX Morning Crypto News Recap | August 7, 2023

Miami Mayor Francis Suarez Embraces Cryptocurrencies for 2024 Presidential Campaign
Miami Mayor Francis Suarez, a 2024 presidential candidate, disclosed his acceptance of cryptocurrencies for campaign contributions during a Coindesk TV broadcast on August 4, 2023. He became the first Republican candidate to embrace digital currencies for donations.

JPMorgan Economists Foresee US Economic Resilience, Abandon Prior Recession Prediction
JPMorgan economists, led by chief U.S. economist Michael Feroli, have discarded earlier forecasts of a forthcoming U.S. recession. Instead, they express optimism in the American economy, predicting steady growth for the rest of the year and into 2024.

Russia Acknowledges Recognition of Foreign Digital Currencies
According to local crypto media reports, the Russian government now acknowledges digital currencies issued by foreign countries. This recognition coincides with the enactment of a new law aimed at regulating the introduction of Russia's digital ruble.

US Rating Downgrade Expected to Strengthen BRICS Currency Advocates, Says Personal Finance Expert
Personal finance expert Riley Adams believes that the recent downgrade of the United States' credit rating by Fitch from AAA to AA+ could strengthen support for a BRICS currency. However, Adams points out that certain geopolitical challenges must be addressed before the BRICS currency can materialize.

Musk Firmly Declares 'No' to Launching Crypto Token
Tech investor Elon Musk responded to a post on his social media platform X (formerly Twitter) warning about fake coin projects using his and the platform's name. He firmly stated that X will never create its own cryptocurrency token, rejecting any possibility of such a venture.

Renewed Bitcoin Interest Evident in US ETFs; Bull Market Anticipated as BTC's Limited 'Hot Supply' Attracts Attention
Blockchain analytics firm Glassnode's report titled "How Many Bitcoin Are For Sale?" analyzes exchange flows and on-chain metrics to assess the availability of bitcoin for purchase amid growing interest in bitcoin exchange-traded funds (ETFs). The report, published on June 26, 2023, provides insights into bitcoin's demand and supply dynamics.

Economist Peter Schiff Predicts 'Inevitable' US Dollar Collapse
Economist Peter Schiff disregards Fitch's recent U.S. credit rating downgrade, deeming it "meaningless." Despite this, he forewarns of an impending U.S. dollar collapse due to the trajectory of the government's deficit spending. Schiff emphasizes the inevitability of a financial crisis and crash as a result.

Bitcoin Price Poised for 'Full Bull' Run Next Month with 200-Week Trendline Holding Strong
According to on-chain analyst Cole Garner, Bitcoin and the broader cryptocurrency market are on track for a potential classic breakout. Analyzing social media data on August 6, Garner suggests that multiple time-tested patterns indicate significant upside potential for both Bitcoin and other cryptocurrencies.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.