Bitcoin Signals Recession, Predicts Massive Rally

Bitcoins price drop could signal a recession, according to Bitwise Asset Managements André Dragosch. Despite economic surveys showing a neutral outlook, Bitcoins implied growth outlook has plummeted, indicating a much more bearish view. This divergence has occurred before, leading to substantial rallies. Dragosch believes Bitcoin is pricing in a recessionary environment and suggests a significant upside potential if things turn around. However, Bitcoins price remains volatile, trading around $90,559 as of late November, down slightly in the past day and year-to-date. The Federal Reserves potential interest rate cut in December could further impact market sentiment and Bitcoins trajectory.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.