BTC/USD: Towards a return of Bitcoin to $14,000

Economic Slowdown and Central Banks Put Pressure on Bitcoin

In terms of fundamentals, the outlook for the price of Bitcoin is, as for the equity markets, relatively gloomy. Indeed, given the “financialization” of the cryptocurrency market, Bitcoin finds itself highly correlated to traditional risky assets and between the significant economic slowdown across the world, including the growing risk of recession on both sides. of the Atlantic, and the extremely rapid monetary tightening by central banks, risky assets should continue to be under pressure.

The outlook for risky assets, including Bitcoin, will improve when the global economic outlook improves and/or when central banks become dovish again.

Admission: Sale below $19,000
Stop: $20,000
Goal: $14,000
Risk/reward ratio: 3

Follow the evolution of the Bitcoin price with IG.

.

Leave a Comment