Morgan Stanley’s V-Shape Recovery Prediction Can Still Lead Bitcoin Above $10K

Morgan Stanley’s V-Shape Recovery Prediction Can Still Lead Bitcoin Above $10K
фото показано с : bitcoinist.com

2020-6-15 15:47

Bitcoin price could attempt a close above $10,000 as Morgan Stanley predicts a V-shape global recovery by the fourth quarter. Economists at the investment banking giant expect global GDP to shrink by 8.6 percent year-on-year but rebound to 3.1 percent by Q1/2021. Aspects of a full recovery could increase investors’ risk appetite, thereby benefiting Bitcoin alongside the global stock market. Bitcoin’s likelihood of testing and maintaining a price floor above $10,000 looks promising as Morgan Stanley makes an encouraging global market forecast. Economists at the investment banking giant said that they expect the global economy to print a V-shaped recovery by Q4/2020. Led by Chetan Ahya, the financial veterans cited a recent upside in growth data and policy action undertaken by global central banks as significant reasons behind the recovery. More than 90 percent of economies could fall into recession this year. Source: World Bank, Bloomberg They predicted a mild-recession heading further into the year, noting that the global GDP may shrink by 8.6 percent on a year-on-year basis. Nevertheless, with the economy in a new expansionary cycle and factory output improving post-lockdown, the GDP may start recovering in Q4/2020. Morgan Stanley’s economists anticipate a rebound of 3.1 percent by the end of Q1/2021. Bitcoin A non-correlated asset otherwise, Bitcoin’s proximity with macroeconomic catalysts has grown in the wake of the pandemic. The cryptocurrency suffered significant losses during the February-March trade session, falling by more than 60 percent. Its wild move downhill coincided with a global market rout, wherein stocks, commodities, ETFs, and bonds fell in tandem. Investors dumped these assets to seek safety in cash. U.S. Dollar Index chart from TradingView.com showing the greenback’s strength in March 2020. Source: TradingView.com But the intervention of governments and central banks took some pressure off the market. The U.S. Federal Reserve sent its benchmark interest rates to near-zero and launched an open-ended bond-buying program. The U.S. Congress, at the same time, introduced a $3 trillion stimulus package. Central banks took similar measures in the Eurozone, Japan, Australia, and China. The result was a significant recovery across the global stock market. Bitcoin rebounded, likewise. Further Recovery and $10,000 With Morgan Stanley predicting a recovery ahead of Q1/2021, it could allow institutional investors to regain their confidence in the risky markets. So far, they have rubbished the stock recovery as retail-driven, citing examples of bankrupted companies like Hertz, whose equities swang high by as much as 80 percent. “What you’re getting right now is this great disconnect between fundamentals and finance,” Mohamed El-Erian, chief economic adviser at Allianz, told CNBC. “Take Hertz. A company in a bankruptcy procedure that saw its share price go up […] now they’re talking about issuing stocks, warning investors they may be worthless.” Eminent investors, including Scott Minerd, the global chief investment officer for Guggenheim Partners LLC, and billionaire Jeffrey Gundlach of DoubleLine Capital LP, have also called stocks overvalued. Prominent asset manager Jeremy Grantham wrote that the stock market is rising on a one-side optimism. A majority of financial bigwigs expect a sharp pullback owing to a potentially bumpy economic recovery, as well as fears of a second-wave of virus infections. That could lead to a seismic capital shift from risk-on assets to safe-havens like bonds, gold, and even an oversupplied U.S. dollar. A similar correction is taking place. On Monday, both Bitcoin and futures tied to the U.S. benchmark S&P 500 dived lower. Analysts believe the price action could remain, at best, choppy with a hint of an extended move to the downside. #bitcoin is still moving in worrying closeness with the S&P 500 – not good pic.twitter.com/KDFNmnQ44d — Lark Davis (@TheCryptoLark) June 11, 2020 Meanwhile, the next dip, coupled with an optimistic global market forecast, could open doors for institutional investors to join the rally. As the stock market resumes its uptrend, it would leave Bitcoin in a similar bullish bias. That could lead the cryptocurrency towards or above $10,000.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Recovery Right Tokens (RRT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 RRT

morgan global bitcoin above recovery v-shape stanley

morgan global → Результатов: 81


Biticoin Bull Pompliano: Tokenizing USD Will Secure Currency’s Position as the “Global Reserve Currency” in the Future

The Co-Founder of Morgan Creek Digital and widely known as a “bitcoin bull”, Anthony Pompliano was recently involved in an interesting discussion with CNBC’s Squawk Box. As per Bitcoinist, the expert shared his opinions on what will allow Bitcoin to retain its store-of-value given the potential that rests in digitalized national currencies. He seems to […]

2019-9-28 18:21


Jamie Dimon Quashes Recession Fears — Here's Why He's Wrong

Despite worries of an impending global recession, Jamie Dimon is still feeling rather positive about the state of the U.S. economy — but his sentiment might be misguided. The J.P. Morgan Chase chairman says his gut feeling is that the American economy isn't nearing a turn for the worse — telling reporters at the Business […] The post Jamie Dimon Quashes Recession Fears — Here's Why He's Wrong appeared first on CCN.com

2019-9-19 23:03


JP Morgan: US Dollar Could Lose its Reserve Currency Status, Need for Investment Portfolio Diversification

The US dollar will struggle to remain the global reserve currency, in the coming decades, having already completed its tenure as a GRC. “The US dollar has been the world’s dominant reserve currency for almost a century,” wrote, bank’s strategist Craig Cohen in a report earlier this month. “We believe the dollar could lose its […]

2019-7-25 20:16


Фото:

Джойс Янг: Китай привыкает к мысли, что за криптовалютами — будущее

Основательница Global Coin Research рассказала, почему Поднебесная откажется от наличных денег. Джойс Янг, которая создала компанию Global Coin Research, рассказала в интервью одному из учредителей криптовалютного инвестиционного фонда Morgan Creek Capital Энтони Помплиано о том, что реально происходит в Китае, где формально запрещена торговля криптовалютами, а также ICO.

2019-4-22 13:18


Фото:

Citibank ditches plans for its own cryptocurrency, bets on SWIFT instead

One of the world’s top 20 banks by asset value, is ditching plans to create its own digital asset – and abandoning all of its cryptocurrency experiments. Instead, it’s betting on a SWIFT. Citibank is not following in the footsteps of JP Morgan with the creation of its own cryptocurrency, believing there are better ways of making improvements to existing financial transaction systems, CoinDesk reports.

2019-3-18 18:15


Emerging Markets are Surging and Investors Could Send Bitcoin Moon-Bound

Emerging markets and their respective currencies are on the rise, which historically has had some correlation with the price of Bitcoin. According to Morgan Stanley, the global emerging markets benchmark is expected to rise by around 8 percent in 2019, primarily due to the increase in interest in the Chinese stock market following the optimistic prospect of the trade deal.

2019-3-13 15:45


Ripple CEO Questions Use Case of JPM Coin, Believes It is More Prone to Risk than XRP

A recent CoinDesk report revealed Ripple’s CEO, Brad Garlinghouse’s viewpoint on JP Morgan Chase’s official announcement of its stablecoin, JPM Coin. While Garlinghouse appears to encourage and applaud JP Morgan Chase for their new endeavor, he supposedly feels discomfort with respect to the global financial services’ approach in using the said token. The JPMCoin was […]

2019-3-7 17:57


Фото:

Morgan Creek принял участие в инвестраунде стартапа Figure в $65 млн

Компания Figure, базирующаяся в Сан-Франциско, за короткий промежуток времени привлекла $65 млн, увеличив общую сумму финансирования до $120 млн, пишет TechCrunch. Помимо венчурной фирмы Morgan Creek, в раунде, принесшем стартапу $65 млн, приняли участие RPM Ventures, DST Global, DCG и Nimble Ventures.

2019-2-28 14:40


Фото:

Bitcoin Is Fast Evolving Into a Global Reserve Currency, Says Morgan Creek Digital Founder

Despite the bearish run of 2018, there’s no stopping Bitcoin from emerging a de-facto global reserve currency. It may sound like wishful thinking at a time when the broader crypto market is only just showing the signs of a possible recovery, but the forecast is actually coming from a respected voice in the crypto space […] Bitcoin Is Fast Evolving Into a Global Reserve Currency, Says Morgan Creek Digital Founder was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

2019-2-19 15:29


SWIFT Outperforming Ripple, Bitcoin ETF On The Way, JP Morgan Launches Own Coin, XRP Centralized, Coinmama Hacked, Nasdaq to Add BTC and ETH Indices to its Global Data Services: This Week In Crypto

This week, as usual, was full of activities, most of it focused on the future of cryptocurrencies and cryptocurrency adoption. Top among the stories were predictions on the future price of Bitcoin which have been mostly bullish.

2019-2-17 11:13