HomeÚltimas NoticiasNoticias De bitcoinWhat a US government shutdown would do to Bitcoin

What a US government shutdown would do to Bitcoin


On the latest episode of Macro Markets, analyst Marcel Pechman examines the current state of the American economy. He references a headline from Barron’s that highlights the disparity between people’s perception of the economy and the objective data.

Pechman delves into the concept of excess savings, agreeing with Barron’s that a significant portion of the United States population lacks sufficient savings for retirement, potentially necessitating longer working years. He notes that household wealth in the U.S. has reached new heights, primarily due to surges in equities and real estate assets. 

Shifting his focus, Pechman discusses rising concerns among U.S. consumers about increasing prices, particularly the cost of filling up their vehicles with gasoline. He connects this to the recent surge in U.S. crude futures, influenced by Saudi Arabia’s decision to extend output curbs. 

Pechman foresees challenges for President Joe Biden, especially in managing inflation and the impact of Federal Reserve interest rate hikes on real estate and the S&P 500. He then addresses the implications for Bitcoin (BTC), suggesting that if inflation outpaces income growth, it could exert downward pressure on the cryptocurrency.

Moving on to the U.S. budget issue, Pechman explores the possibility of a government shutdown due to disagreements in Congress. In a critical analysis, Pechman questions the use of disaster funds to cover war expenses, drawing attention to the Biden administration’s priorities. He emphasizes the potential consequences and legality of such maneuvers.

Pechman concludes by suggesting that a U.S. government shutdown could trigger a bull run in Bitcoin and advises keeping an eye on this potential trigger for a cryptocurrency rally in early October.

Check out the latest episode of Macro Markets, available exclusively on the Cointelegraph Markets & Research YouTube channel.


Reciba noticias de Vimilin desde Google news


Please enter your comment!
Please enter your name here


BTC price shows ‘textbook’ Wyckoff moves as Bitcoin bulls defend $25K

Bitcoin (BTC) consolidated higher on Sept. 15 as analysis described recent BTC price behavior as “textbook.”Collect this article as an NFT to preserve this moment...

Magic Eden integrates Solana’s compressed NFTs into marketplace

Nonfungible token (NFT) marketplace Magic Eden has announced that it will support Solana’s compressed NFTs (cNFTs) to provide a cost-efficient and scalable alternative to owning...

House Democrats back Biden candidacy as calls for president to drop out intensify on the left

FIRST ON FOX: House Democrats appear to be behind another Biden-Harris ticket, even as President Biden is being discouraged against running by some on the...

3 Standout Stocks to Buy as Worse-Than-Expected CPI Numbers Revive Inflation Fears

The August CPI report showed headline annual inflation rising 3.7% compared to the 3.2% reading seen in July and a 3.0% increase in June. As inflation...

Más popular