Coinbase Executive: "Bitcoin (BTC) Influenced by Macroeconomic Factors...Q1 Won't Be Smooth"
JH Kim
Summary
- The head of research at Coinbase stated that the price of Bitcoin is influenced by macroeconomic factors.
- During the first quarter, the price of Bitcoin is expected to be cautiously optimistic but not smooth.
- The reduced possibility of a rate cut by the Federal Reserve is putting pressure on assets overall.
Coinbase's Head of Institutional Crypto Research, David Duong, stated in an interview with Decryption on the 13th (local time) that "while there is growing anticipation for changes in crypto regulations ahead of President-elect Donald Trump's inauguration on January 20th (local time), the price of Bitcoin (BTC) is being influenced by macroeconomic factors."
He predicted Bitcoin's price for the first quarter of this year, saying, "I am cautiously optimistic," but added, "the path won't be smooth."
Additionally, he noted, "Concerns that the Federal Reserve (Fed) might not implement a rate cut this year due to recently released employment data are putting pressure on assets overall."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
