One of the most respected macro analysts in the world, Lyn Alden, said that the price of bitcoin is unrealistic to predict due to the current macroeconomic situation in the world. She stated this during a conversation with Kitco News. According to the expert, governments are trying to tighten the rules for the circulation of cryptocurrencies.
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Lyn Alden assured that such actions in a crisis in the economy could create problems for the entire world population. She noticed the correlation of monetary tightening with the increase in PMI indicators (Business Activity Index). According to her, the economy is now experiencing stagflation (economic recession and high unemployment are accompanied by rising prices).
In her opinion, consumer sentiment is close to lows that have not been seen since 2009. The unemployment rate has also reached critical levels. However, she is optimistic about the cryptocurrency market and, in particular, Bitcoin. Among other things, Alden is confident in the stability of various sectors of the economy, including the markets of Latin America, gold, and other precious metals.
Nevertheless, the specialist assured us that it is impossible to predict the rise in BTC prices for the coming months. The situation in the world is such that everything can change at any moment, so you can not be sure of anything.
She said that nothing would change in the next six months. Much of the bullish activity in Bitcoin occurs during a rising PMI environment. In the face of a decline in this index, the rate of the flagship cryptocurrency usually suffers.
Earlier, the Crypto.ru editors reported that, according to Bloomberg experts, the price of the first Bitcoin cryptocurrency would soon drop to $26,000. They came to this conclusion after analyzing the digital gold rate chart.