With Bitcoin Above $13K, The Bulls Will Love What The Fed’s Recession Indicator Is Showing

2019-7-10 16:12

In economic and political turmoil, Bitcoin always soars. This was evident as the market surged during the U.S-China trade war and continues to play a major role in some regions including Iran, Venezuela, Zimbabwe, and Britain.

Particularly in the U.S, there has been growing fear that a recession could be on the way. This has seen many seek haven in Bitcoin. Now according to new findings, there is more reason to be alarmed at the prospect of a recession. The New York Fed’s recession indicator is now at its highest since 2008.

The New York Fed’s recession indicator is now at its highest since 2008. pic.twitter.com/l5RG8Gm8RY

— Tracy Alloway (@tracyalloway) July 9, 2019

This indicator lights up just months after a poll was done and 60% of economists agreed that the U.S was likely to undergo a recession by 2020. It also comes just days after the U.S president, Donald Trump, said the U.S “should match” China’s money printing game.

The U.S could be headed for some economic trouble with the dollar losing much value in the coming months. Bitcoin could then be the safest haven to ensure one is protected during a financial crisis.

This economic instability and demand for a safe asset have seen analysts such as  Anthony “Pomp” Pompliano predict that Bitcoin will hit $100,000 by 2021. Others like Naeem Aslam, ThinkMarkets chief market analyst, believe this will happen before the end of the year.

Bitcoin (BTC) Price Update

Since the start of the day, Bitcoin has been nudging at the $13K position. Although it has climbed above this several times, it is struggling to remain above it. The bulls will continue to look for better positioning above this in the coming hours as they hope to surpass the asset’s current year high of $13,450 in the next couple of days.

Via TradingView

Bitcoin’s surge has however come at a great cost for altcoins as we reported earlier. Bitcoin has extended its dominance to 65.1% at the time of press. This has seen nearly all altcoins turn red. Current drops for altcoins remain moderate, ranging between 2% to 4%. Bitcoin is enjoying a solid 5% gain at the time of press.

The post With Bitcoin Above $13K, The Bulls Will Love What The Fed’s Recession Indicator Is Showing appeared first on ZyCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67249.07 (+0.22%)
Объем 24H $24.627b
Изменеия 24h: 1.38 %, 7d: 10.84 %
Cегодня L: $66739 - H: $67313.92
Капитализация $1324.803b Rank 1
Цена в час новости $ 12417.18 (441.58%)

recession bitcoin indicator showing 13k fed bulls

Источник: zycrypto.com

recession bitcoin → Результатов: 76


Bitcoin Proponent Ron Paul: ‘Tax free Bitcoin and crypto will prevent next Fed-created recession’

Going by the recent development in the US banking sector, that has seen the US Fed Reserve, the central bank of US raise interest rate the fourth time in 2018, which many believe could lead to a recession in the US and a global recession by 2019, former IMF economist, who also was a former […] The post Bitcoin Proponent Ron Paul: ‘Tax free Bitcoin and crypto will prevent next Fed-created recession’ appeared first on ZyCrypto.

2018-12-21 14:15


PR: Booming Rootstock Ecosystem Nagezeni Creates Token on Bitcoin Sidechain

Collapse of the financial system, broken lives of thousands of uninvolved people and subsequent economic recession – all of that mess brought the year of 2008. Satoshi Nakamoto realised that banking system inefficiencies can be solved by eliminating human factor from the equation, something that peer-to-peer technology could offer, so Bitcoin was born.

2018-11-8 15:30


Imminent Bitcoin ETF Approval Could Capture Major Market Momentum as Stock Prices Plummet

Stock Prices Are Plummeting: Can Bitcoin Exchange Traded Fund Actually Capitalize This Year? Many financial analysts have already sounded the horns for a looming recession. In fact, JPMorgan analysts have predicted a 60% chance of a recession by 2020 which increases to 80% by 2021. This can be a blessing in disguise for Bitcoin and […]

2018-10-25 17:58


Bitcoin ETF To Capitalize on Falling Stock Prices?

Bitcoin (BTC), Exchange Traded Fund (ETF)–Yesterday EWN reported on a development by JPMorgan analysts over their prediction of an inevitable U.S. recession lingering on the horizon. According to the report, JPMorgan is predicting a 60 percent chance of recession occurring by the year 2020, with that number climbing further to 80 percent in the next […] The post Bitcoin ETF To Capitalize on Falling Stock Prices? appeared first on Ethereum World News.

2018-10-25 05:35


JPMorgan Predicts U.S. Recession by 2020, Could Signal Bullish Return for Bitcoin

Cryptocurrency, Bitcoin (BTC), U. S. Markets–On Oct 18, Bloomberg ran a report on a model produced by large financial institution JPMorgan claiming that the U. S. market has a 60 percent chance of entering a recession over the next two years, leading some to wonder how such a shift would impact the industry and marketplace of cryptocurrency.

2018-10-23 04:29


дальше еще 27 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

What to Expect From Bitcoin in 2024

Expectations that U.S. regulators will approve spot bitcoin ETFs next year are driving prices higher. History suggests we might see a slowdown as we approach the halving in April 2024, says Path Crypto's David Liang.