Bitcoiners may be too early to start becoming stubborn on the long -term effects of a potential recession on the price of Bitcoin, says 10x head of research by Markus Thielen.
Thielen he said On the market of April 11, it reports that credit spots are still expanding, which indicates that “recession fears can penetrate deeper into the economy.”
“Waiting a stubborn impulse is too early,” he said.
Bitcoin can face a miniature -term wind
While the long-term effects of the recession can be stubborn for Bitcoins (BTC)-due to the cash chain, which usually follows the cuts of the federal reserve rates in the USA-Thielen warned that Bitcoin could face the wind before he obtained a stubborn rush.
“Usually Bitcoin is selling for the first time when China devals or fed cuts, because the first cut may not be so influential, and also confirms economic weakness,” said Thielen Cointelegraph.
Bitcoin trads at USD 80,620 at the time of publication. Source: Coinmarketcap
Crypto White House and AI Car David Sacks he said In the post of April 10 X there is “time to lower the rate” after the basic indicator of consumer prices increased by 2.8% of the year in March, the lowest than March 2021.
CME group fedwatch tool can be seen 64.8% chances of a lack of reduction in the rate at the Federal Committee of the Federal Federal Federal Reserve.
Traders usually perceive interest rates and extensions of cash supply as positively affecting the prices of assets, especially bitcoins and other cryptocurrencies.
However, Thielen said that historically, when loans from year to year “start to expand”, Bitcoin often faces greater pressure and lasts longer.
Related: Bitcoin “was significantly reduced here” because almost 80% of the cyclical Cenalitic Correction Correction
“This pattern suggests that although a long -term opportunity may appear, Bitcoin can still face pressure in the near future,” said Thielen. He added that currency devals were also historically bears for markets in miniature -term perspective before they were stubborn in long -term perspective.
Appears among the growing problems among market participants for a weakening American dollar.
The American dollar index (DXY) sits at 100.337, which is a drop of 2.92% in the last five days, According to For TradingView data.
DXY sits at 100.337 at the time of publication. Source: TradingView
Trade resource account, Kobeissi letter, he said In the post of April 10, “American Dollar came out of the room. Once again, something is broken.”
Meanwhile, the head of Blackrock digital assets, Robbie Mitchnick, said at the end of March that Bitcoin would most likely prosper in Makro’s recession.
“I don’t know if we will have a recession or not, but the recession would be a big Bitcoin catalyst,” said Mitchnick.
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This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
