Tuesday, March 21, 2023
  • Login
  • Register
btclive365.com
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency
No Result
View All Result
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency
No Result
View All Result
btclive365.com
No Result
View All Result
Home Blockchain

Can Increased Odds of a Recession Cause Crypto to Rise? – Blockchain News, Opinion, TV and Jobs

btclive365 by btclive365
November 25, 2022
in Blockchain
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


By Marcus Sotiriou, Analyst at the publicly listed digital asset broker GlobalBlock (TSXV:BLOK). 

After a painful week for the stock market in the U.S., the S&P 500 had its best day since July, growing by 2.59%. S&P 500 futures are also up over 1.8%. This has led Bitcoin to rise over 4% overnight. This rise in the stock market was a result of weak manufacturing data that came in yesterday. The U.S. September manufacturing ISM was weaker than the expected 52 and dropped by 1.9pts to 50.9. Furthermore, employment & new orders fell below 50. Prices paid dropped by 1.9pts to 50.9 in addition to supplier deliveries and order backlogs falling These indicators are pointing to less inflation pressure, hence resulting in positive sentiment in global markets yesterday, including Bitcoin.

This does raise the concern, however, that the Federal Reserve could overtighten. Famous investor, and one of Wall Street’s most respected minds, Stan Druckenmiller, said last week, “I will be stunned if we don’t have a recession in ‘23. I don’t know the timing but certainly by the end of ‘23. I will not be surprised if it’s not larger than the so-called average garden variety. I don’t rule out something really bad.” The United Nations calls on the Fed and other central banks to halt interest rate increases, due to fears of extreme tightening conditions causing a global recession.

Based on the last two major stock market drawdowns, shown above by ecoinometrics, we could expect further downside for the stock market if a recession does occur. The dotcom bubble and Great Recession took many months to reach their ultimate bottom and markets took years to recover. However, the fact that the U.S. stock market rallied yesterday after weaker manufacturing data showed that the market is currently fearing persistently high inflation over the danger of a recession. This means that a wider relief rally could be on the cards in the coming months if we continue to see similar data this month regarding slowing inflation.



Source link

Previous Post

Argentina May Adopt BTC as Legal Currency, to Introduce Bitcoin bonds 

Next Post

Dying? What These Bored Apes Sales Say About The NFT Market’s Condition

btclive365

btclive365

Next Post

Dying? What These Bored Apes Sales Say About The NFT Market's Condition

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 23.8k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest

How to sell Bitcoin – Bitcoin Magazine

November 9, 2022

Add a Tangible Asset to Your Portfolio: Buy Gold

January 7, 2023

Building Bitcoin Standard In Portugal – Bitcoin Magazine

November 9, 2022

USD/ZAR Rallies as SA President Ramaphosa Faces Potential Impeachment

December 1, 2022

Bitcoin price hits 2-week lows as FTX ‘bank run’ drains BTC reserves

1

Building Homesteader Lifestyle With Bitcoin – Bitcoin Magazine

1

Arbitrum dealings activity rockets 550% since August: Delphi Digital

0

Bitcoin․com Doubles Down on Self-Custody With Launch of Verse DEX – Press release Bitcoin News

0

Institutional Investors Shift Focus On These Altcoins, Sell off Bitcoin and Ethereum

March 21, 2023

Bitwise Launches BITC, a New Type of Bitcoin-Linked ETF Designed for Long-Term Investors

March 21, 2023

A nod by Powell to downside growth risks could accelerate USD profit taking even if the Fed hikes – SocGen

March 21, 2023

‘It’s happening in a different way’

March 21, 2023

Recent News

Institutional Investors Shift Focus On These Altcoins, Sell off Bitcoin and Ethereum

March 21, 2023

Bitwise Launches BITC, a New Type of Bitcoin-Linked ETF Designed for Long-Term Investors

March 21, 2023

A nod by Powell to downside growth risks could accelerate USD profit taking even if the Fed hikes – SocGen

March 21, 2023

‘It’s happening in a different way’

March 21, 2023

We deliver up-to-date, breaking crypto news about the latest Bitcoin, Ethereum, Blockchain, NFTs, and Altcoin trends and happenings

Follow Us

Browse by Category

  • Altcoins
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Mining
  • Cryptocurrency News Today
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency

Recent News

Institutional Investors Shift Focus On These Altcoins, Sell off Bitcoin and Ethereum

March 21, 2023

Bitwise Launches BITC, a New Type of Bitcoin-Linked ETF Designed for Long-Term Investors

March 21, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2022 btclive365 All Right Rivered .

No Result
View All Result
  • Home
  • Cryptocurrency News Today
  • Bitcoin (BTC)
  • Altcoins
  • Blockchain
  • Crypto Mining
  • CryptoCurrency Predictions
  • Defi
  • Dogecoins
  • Earn Crypto
  • Ethereum (ETH)
  • Forex Trading
  • ICO
  • Litecoin ( LTC )
  • NFT
  • Ripple
  • Trend cryptocurrency

© 2022 btclive365 All Right Rivered .

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In