Bitcoin could plummet to $10k as 3 macro factors of crypto prices suggest

  • Bitcoin could plummet to $10k as 3 macro factors of crypto prices suggest

    Posted by Sumpter on February 17, 2022 at 11:03 pm

    Bitcoin could plummet 76% from current levels to $10,000 by 2023 as the cryptocurrency faces three macro headwinds that have an influence on its price, according to a note from Stifel’s Barry Bannister.

    Bannister highlighted global money supply, the 10-Year US Treasury yield, and the equity risk premium of the S&P 500 that have influence over the price of bitcoin. Planned tightening by the Federal Reserve in the form of interest rate hikes and a reduction in its balance sheet could have a negative impact on the price of bitcoin, according to Bannister.

    “In 2022, we see bitcoin in a broad trading range bounded by year-to-date intra-day levels with greater downside risk in 2023 if the Fed continues to normalize policy in a ‘standard’ two-year tightening cycle,” Bannister explained.

    https://www.msn.com/en-us/money/markets/bitcoin-could-plummet-to-2410000-by-2023-as-3-macro-factors-of-crypto-prices-suggest-weakness-ahead-stifel-says/ar-AAU05De

    DonnieElmstad replied 9 months, 3 weeks ago 2 Members · 1 Reply
  • 1 Reply
  • DonnieElmstad

    Member
    February 17, 2022 at 11:35 pm

    NFTs = House of cards.

    Bound to collapse.