Today if wanted to share information about the main news on the behavior of the Bitcoin price action, and how the U.S. economic context may or could influence in the coming months the direction the price action will take.
In the latest article uploaded by William Suberg to the Cointelegraph portal he indicated that, "Bitcoin may still be 75% above the price of a year ago, but it faces a perfect storm of downside volatility catalysts this quarter."
In this regard in the aforementioned article it was highlighted or rather expected that, "Risk assets, including cryptocurrencies, are expecting a "pivot" by the Fed in March, lowering interest rates and attracting liquidity back into the market"
It was also noted that, "Due to weather and geopolitics, rising shipping costs could lead to a pickup in inflation in the third and fourth quarters of this year. As Powell is no doubt aware of these issues, he will do his best to talk about rate cuts without actually cutting rates."
It is worth noting that, "BTC/USD hit USD 38,500 on Bitstamp on Jan. 23, its lowest level since early December, before rebounding around USD 1,700, according to data from Cointelegraph Markets Pro and TradingView"
SOURCES CONSULTED
Cointelegraph. Bitcoin price risks $30K over ‘supercharged’ inflation — Arthur Hayes. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph
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