Bitcoin Halving Is Not a Bullish Event, Says 10x Research Analyst

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.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ether ETFs Likely Won't Get Approved in May, Bloomberg Analyst PredictsHelene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
Source: CoinDesk - 🏆 291. / 63 Read more »