As America’s national debt continues to rise, concerns about its implications for the economy and financial markets are growing. The United States’ total public debt currently stands at $32.7 trillion, with trillions being added to it every year. The interest payments on this debt alone cost about $1 trillion annually, exceeding the country’s defense budget. The Heritage Foundation, a conservative think tank, has issued a financial warning about the consequences of rising debt, noting that downgrading the debt rating usually occurs when danger signals are given.
E.J. Antoni, a spokesman for the Heritage Foundation, emphasizes the urgency of addressing the growing debt through Congressional intervention. He warns that without immediate action, the country could face hidden defaults on its debt, higher interest payments, faster growing debts, and ultimately, a potential default. Antoni stresses that time is running out before reaching the point of no return.
In the midst of America’s debt burden problem, senior commodity analyst Mike McGlone from Bloomberg has made a prediction about the future of Bitcoin. He points out that U.S. Treasury bond yields are approaching 5%, levels not seen since the economic crisis that coincided with the birth of Bitcoin. McGlone suggests that this rise in bond yields could pose a significant challenge, especially for riskier assets like Bitcoin.
McGlone’s Analysis centers around the 100-week moving averages of Bitcoin and reveals a distinct tipping pattern and a downward trajectory, reminiscent of the U.S. stock Market in the 1930s. He suggests that Bitcoin, which emerged as a digital alternative to gold in the wake of the global recession, may now face a long period of decline. As the safest securities offer a total return of about 10% over two years, the landscape is changing for riskier assets like Bitcoin.
McGlone draws a parallel between the current situation and the period before the financial crisis and the beginning of Bitcoin. The last time U.S. Treasury bond yields reached around 5%, there was significant turmoil in the financial markets, which likely heralded challenging times for many risky assets. He takes into account the broader economic context when considering Bitcoin’s future.
The cryptocurrency market is closely watching these changes as investors wonder how Bitcoin will react to evolving conditions. The rising Treasury yields and the potential challenges they pose for riskier assets like Bitcoin are important factors to consider in determining the future prospects of the cryptocurrency..
#Stunning #Bitcoin #prediction #famous #analyst
E.J. Antoni, a spokesman for the Heritage Foundation, emphasizes the urgency of addressing the growing debt through Congressional intervention. He warns that without immediate action, the country could face hidden defaults on its debt, higher interest payments, faster growing debts, and ultimately, a potential default. Antoni stresses that time is running out before reaching the point of no return.
In the midst of America’s debt burden problem, senior commodity analyst Mike McGlone from Bloomberg has made a prediction about the future of Bitcoin. He points out that U.S. Treasury bond yields are approaching 5%, levels not seen since the economic crisis that coincided with the birth of Bitcoin. McGlone suggests that this rise in bond yields could pose a significant challenge, especially for riskier assets like Bitcoin.
McGlone’s Analysis centers around the 100-week moving averages of Bitcoin and reveals a distinct tipping pattern and a downward trajectory, reminiscent of the U.S. stock Market in the 1930s. He suggests that Bitcoin, which emerged as a digital alternative to gold in the wake of the global recession, may now face a long period of decline. As the safest securities offer a total return of about 10% over two years, the landscape is changing for riskier assets like Bitcoin.
McGlone draws a parallel between the current situation and the period before the financial crisis and the beginning of Bitcoin. The last time U.S. Treasury bond yields reached around 5%, there was significant turmoil in the financial markets, which likely heralded challenging times for many risky assets. He takes into account the broader economic context when considering Bitcoin’s future.
The cryptocurrency market is closely watching these changes as investors wonder how Bitcoin will react to evolving conditions. The rising Treasury yields and the potential challenges they pose for riskier assets like Bitcoin are important factors to consider in determining the future prospects of the cryptocurrency..
#Stunning #Bitcoin #prediction #famous #analyst
