The US Recession Is Likely To Have A Negative Impact On Bitcoin Market Price
The recessionary wind will make the king crypto bitcoin take a drop as regards market price the senior Bloomberg analyst predicts, the recent market situation leaves uncertainty if we are there yet “ out of the bearish season” two weeks back the king crypto bitcoin has a sounding performance in which it reclaimed trading around the $27k price tag.
We are few days into the second half of the year and the US economic situation ain’t really encouraging as the analyst predicts that this will play a negative influence on the king crypto performance.
June may show more of the 1H (first half of the year) bias for rising risk assets and Bitcoin in a worst-is-over scenario, or it could roll over into a US recession. Our bias is the latter, notably as markets appear to have priced in an optimistic outcome from the long and variable lags of aggressive central-bank rate hikes, which are still rising.
The US recession as expected puts risk asset like bitcoin in arms way, as these asset might likely see lower than expected. Well the analyst is saying that the risk asset would see as low as $7k, let’s be observant to see how the market reacts with the current economic happenings.
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