The Market Isn’t Surging Anytime Soon So Get Used To Dark Times

Like the rest of the world’s markets, the bitcoin industry is having a hard time. From what they’re saying, it sounds like not everyone in the peanut gallery has read the letter. Trading Software is one of the reliable platforms for trading without difficulty.

In November, Americans will vote in the midterm elections. A picture with the forecast showed that he thinks the price of Bitcoin (BTC) will go up to $34,000 by the end of the year. This would be almost a 50% increase from where it was a week ago, which was about $20,000.

These ideas came from “respectable” observers or people who had been right about things in the past. Someone named Charlie Shrem sent me an email today. He wanted to sell me his “investment calendar.” He told his readers that crypto could have a “big run-up” starting tomorrow.

If you look around, you can find even more optimistic predictions, like one that says Bitcoin is about to go up by 400%, bringing its price to an all-time high of $80,000 and its market capitalization to $1.5 trillion, which is $500 billion more than all the silver on Earth is worth.

Even though most optimistic people are powerful people who want to connect with and sell to paying customers, it is still nice to see. The economy as a whole is showing signs of a much darker reality, which may be even worse than expected.

FedEx said last week that its sales for the first quarter were $500 million less than expected. The economy could get worse in the weeks to come because of this. In an interview with CNBC, CEO Raj Subramaniam said that these numbers don’t look suitable for the company.

His comments, which included a prediction that the numbers showed the start of a global recession, caused his company’s stock price to drop by 21% by the end of the week. This pulled down the market as a whole. He also said that the numbers showed the world was about to go into recession.

Why do you think the value of cryptocurrencies will go up in 2024?

FedEx has said it will do something about the slowing economy, and one of those things is closing 90 facilities by the end of the year. The good news is that Americans have so much debt that it’s unlikely they were planning to go to any of those places anyway. The number adds up to just a little more than $48,000 for the 330 million people in the United States.

It can be taken into account that the government owes a little more than $30 trillion. Even though lawmakers might not care much about the national debt, they care a lot about their debt. “I’m telling the American people that we’re going to get inflation under control,” President Joe Biden told CBS on Sunday.

People wondered if Biden was trying to get ahead of the Fed’s announcement that the federal interest rate would go up by 100 basis points. This would send the markets into a downward spiral that they wouldn’t be able to get out of for a long time.

Ironically, it’s possible that even this action won’t be enough to bring inflation under control shortly. Even though inflation rose by slightly more than 8% year over year in August, there aren’t many signs that it will slow down. Given how quickly debt has grown, this may not come as a surprise, but it is still essential to keep in mind.

Even though many people in the U.S. don’t have much money left, this hasn’t changed demand much. A Federal Reserve Bank of New York study found that the money that keeps demand going comes from credit. The bank noticed that the rise in credit card debt from one year to the next was the biggest it had been in more than 20 years.

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