Bank of America strategists reportedly say that a shift in the macroeconomic landscape could be the catalyst that sends the crypto markets to higher prices.
According to Reuters, analysts at the banking giant have sent a new note to clients įspėjimas that accelerating inflation and a slowing global economy could spread to US markets.
The analysts say that a deteriorating economy would likely force the Federal Reserve to tighten its monetary policy to control persistent inflation, which could put big sell pressure on equities and traditional assets.
BofA chief investment strategist Michael Hartnett reportedly says,
“‘Inflation shock’ worsening, ‘rates shock’ just beginning, ‘recession shock’ [is] coming.”
Hartnett added that in such a climate, cash, volatility, commodities and crypto could become the most appealing assets to investors, outrunning both equities and the bond market.
Earlier this week, the Federal Reserve išleido meeting minutes that confirmed that Fed officials all agreed that raising the federal funds rate would be necessary to curb inflation.
“In their consideration of the appropriate stance of monetary policy, all participants concurred that the US economy was very strong, with an extremely tight labor market, and that inflation was high and well above the committee’s 2% inflation objective.
Against this backdrop, all participants agreed that it was appropriate to begin a process of removing policy accommodation by raising the target range for the federal funds rate at this meeting. They further judged that ongoing increases in the target range for the federal funds rate would be warranted to achieve the committee’s objectives.”
Last month, Bloomberg’s head commodity strategist Mike McGlone also sakė that a potential recession could end up being bullish for Bitcoin. According to the analyst, BTC is transitioning from being a risk-on asset that trades in tandem with tech stocks to a risk-off asset that investors use to store value during times of economic uncertainty.
„Tai, ką aš matau, yra perėjimas nuo rizikos įjungimo prie rizikos atsisakymo. Jis gali siekti 30,000 XNUMX USD, bet jei jis ten nueis, įsivaizduokite, kur bus akcijų rinka.
It can easily correct 30%, 40% in the stock market, it’s happened in history. Then I think Bitcoin comes out ahead.
Vis dar manau, kad remiantis pasiūlos ir paklausos bei priėmimo tendencijomis, tik laiko klausimas, kada jis pasieks 100,000 XNUMX USD. Tai galėtų būti to bazės formavimo laikotarpio dalis.
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Teminis vaizdas: „Shutterstock“/prodigital art
Source: https://dailyhodl.com/2022/04/10/us-banking-giant-issues-dire-economic-warning-says-shock-wave-could-send-crypto-and-commodities-soaring-report/