Prediction Markets Price in Bitcoin Drop 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) this year.
- Markets are reflecting the possibility that Bitcoin could fall to $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 for tighter monetary policy, while money is flowing into the stock market, especially artificial intelligence (AI) and semiconductor shares.
Forecast Trend Report by Period
Prediction markets are increasingly pricing in the risk of Bitcoin falling by year-end.
Walter Bloomberg reported on June 24 that markets are 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 amid expectations that monetary policy could turn more restrictive under a Kevin Warsh-led Federal Reserve.
At the same time, money is flowing into equities, particularly artificial intelligence and semiconductor stocks.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.