Bitcoin and the rest of the crypto market has been spiraling downwards after a minor spike yesterday to 10.4K, leading to a continuation of the downwards pressure that Bitcoin and other major alts have incurred over the past several weeks.
Now, crypto analysts, traders and notable personalities are noting that there is a high probability that Bitcoin’s recent pullback extends significantly lower, but that in the long-term Bitcoin’s price may be bolstered by growing global economic weakness.
Over the past week, the global economy has flashed several warning signals that may tell investors that turmoil is imminent. The ECB recently explained that the economy will require significant monetary stimulus in order for its current growth to be sustained, and that they may cut interest rates in the coming months. Furthermore, the US GDP stagnated this past quarter dropping from 3.1% growth in Q1 2019 to 2.1% growth in Q2 of 2019.
At the moment things are just bubbling at the surface for Bitcoin and there has been no major momentum since things started to slide from the 2019 peak of 14K.
That could all be about to change though as an expected interest rate cut in the US next week could act as another catalyst in the short term.
"If you enjoyed listening to this episode and you want a really easy way to support Thriller Premium, why don't you head over to Apple Podcasts and leave us a quick rating or even a review?
Please leave a Review. Just go to ThrillerRating.com and that should open up Apple Podcasts.
Podcast reviews are pretty darn important and the more reviews we receive, the more likely we'll be able to get Thriller Premium in front of more people.
I am very appreciative for each one of you and would be extremely grateful if you left a 5 star review showing support. I read pretty much all the reviews that you guys leave over there. Thank You."
🔊 For Podcast ⚡ Lightning ⚡ Listeners
You can now use an app and support streaming sats to Thriller Premium.
Mobile: Breez is an excellent non-custodial Lightning wallet
Mobile + Desktop: Sphinx Chatalso supports streaming to podcasts
Desktop/Browser: podStationbrowser extension
Mobile + Desktop: PodFriendas app and on web
Mobile + Desktop: CurioCasteras a progressive web app
More information is available at https://satoshis.stream