Hello guys welcome to my blog, today we will be talking about the popular Bitcoin price
Bitcoin which is the world's most valuable cryptocurrency, dropped more than 2% today to $19,061. At the time of writing, the total market capitalization of the cryptocurrencies is $920 billion, just shy of $1 trillion.
The United States dollar is bullish at the moment, which is weighing on the prices of Bitcoin and the wider global markets. The majority of investors are looking forward to the release of US inflation figures on Thursday.
BITCOIN PRICE (BTC)
The current Bitcoin price is $19,100.67, and the 24-hour trading volume is $28 billion. Bitcoin has fallen by 1.32% in the last 24 hours and more than 4% in the last seven days.
Bitcoin and Ethereum Will Achieve High Values Post-Recession
Paul Tudor Jones, a well-known investor, has stated that scarce digital assets will rise in value in the future, confirming his belief in cryptocurrencies.
On October 10, the billionaire hedge fund manager discussed the role of cryptocurrencies in the current macroeconomic environment with CNBC's Squawk Box. Jones expressed his belief that digital assets will grow rapidly in the future and his assessment of scarce cryptocurrencies benefits the value of ETH and BTC.
According to Paul Tudor Jones, Bitcoin and Ethereum may benefit from rising inflation and precarious macroeconomic situations because of their scarcity.
Markets, in his opinion, may rise if the Federal Reserve stops raising interest rates to combat inflation, despite the US economy being on the verge of a recession. The Fed's interest rate hike expectation of 4.6% in 2023 has increased economists' expectations of further increases before the end of the year.
The current fund rate is between 3% and 3.25%. According to Jones, cryptocurrencies will be ready to take the spotlight when the tides turn, but first, there will likely be a recession.
News reference Cryptonews.com
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