Bitcoin price may retest $20K on US CPI amid absence of soft landing — trader
The Fed will not save the U.S. from recession with rate hikes, and risk assets will suffer, Michaël van de Poppe warns. Bitcoin (BTC) could face a retest of $20,000 and the United States fail its plans for a “soft landing ” on inflation, new Analysis says. In a YouTube update on Feb. 5, Cointelegraph contributor Michaël van de Poppe, founder and CEO of trading firm Eight, warned that the tide is due to turn for risk assets. U.S. "probably" headed for recession — Van de Poppe Amid confusion over how incoming U.S. macroeconomic data may affect market sentiment, there is an increasing chance that the rebound seen in crypto and stocks this year may flip bearish, Van de Poppe says. Bitcoin, for example, put in 40% gains in January, but like some others, he believes that a disappointing February is a real possibility. “I think that people should understand that there is no soft landing, that there is likely a continuation of this downwards trend on the markets,” he said about t...