CandleFocus More Pain Likely, Market Expert Says After Bitcoin's Biggest Loss Since August
2024-12-23
Author: Content Editor
Bitwise's Europe head of research, Andre Dragosch, is turning cautious on bitcoin after last week's 8% dip in price. He warns of deeper losses in the coming weeks due to the Federal Reserve signaling fewer rate cuts for next year and a potential double hump scenario for inflation. Dragosch still sees BTC's supply scarcity as a bullish factor in the long run and believes any further dips could present buying opportunities. The hardening of Treasury yields and a stronger dollar are also discouraging capital inflows into cryptocurrencies and stocks.
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