Bitcoin could drop to as low as $50,000 over the next few weeks as the macroeconomic uncertainty looms over the crypto market, said Markus Thielen, co-founder of 10x Research.
Thielen, who has previously predicted many bull and bear rallies in crypto, currently sees no catalysts that would bring prices up again, he said on At the end of last year and into early 2024, traders were betting on multiple interest cuts by the Federal Reserve this year on expectations of a continued downtrend in inflation. That anticipation drove risk assets, such as tech stocks and cryptocurrencies, significantly higher.
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Source: CoinDesk - 🏆 291. / 63 Read more »