Despite the recent Federal Reserve’s rate cut, there are potential indicators that suggest Bitcoin may drop below $90,000. This prediction might seem contrary to the common consensus that after a rate cut, Bitcoin normally surges. However, other macroeconomic factors can influence its price trajectory. nnFor example, inflation rates, international market fluctuations, and pressure from the traditional banking sector can all impact the crypto market. Notably, Bitcoin’s intrinsic value is not backed by any physical asset but by its demand and supply in the market. Therefore, it’s subject to substantial speculation and volatility. nnInvestors should carefully consider these factors and their own risk tolerance before making investment decisions in Bitcoin or any other cryptos.
Read More
Leave a Reply