Prediction Markets Price in Risk of Bitcoin Falling to $48,000 This Year as Debasement Trade Weakens
JH Kim
Summary
- Prediction markets are increasingly pricing in the risk of a decline in Bitcoin (BTC) before the end of the year.
- Markets are reflecting the possibility that Bitcoin could fall to about $48,000 this year as investors exit the so-called debasement trade.
- Store-of-value assets including gold, silver, and Bitcoin are weakening amid expectations of tighter monetary policy, while money is flowing into the stock market, especially artificial intelligence (AI) and semiconductor-related shares.
Forecast Trend Report by Period
Prediction markets are increasingly pricing in the risk that Bitcoin could fall further before the end of the year.
Walter Bloomberg reported on June 24 that markets were reflecting the possibility of Bitcoin dropping to about $48,000 this year as investors pull back from the so-called debasement trade.
Store-of-value assets such as gold, silver and Bitcoin are also weakening as investors weigh the prospect of tighter Federal Reserve monetary policy under a Kevin Warsh-led regime.
At the same time, money is flowing into equities, particularly artificial intelligence and semiconductor-related stocks.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
