Reserve

Bitcoin

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/max-keisers-stance-on-bitcoin-shifts-from-bull-to-bear-whats-behind-it/">Max Keiser’s Stance on Bitcoin Shifts from Bull to Bear – What’s Behind It?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Today, Bitcoin lost a key support level and fell to $29.1K, causing worries about possible losses. The recent release of the Federal Reserve minutes on August 16 made things worse. This caused the price to fall to $28,300, which is close to a two-month low. </p> 
<p>Traders and experts think that the 200-day and 200-week simple moving averages (SMAs), which are important for bullish trends, will be tested. If these trend lines stay in place, it could mean that a full bull market is coming, but if they break, it could mean that a bear market is knocking.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BITCOIN?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BITCOIN</a> ON KNIFES EDGE <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f52a.png" alt="🔪" class="wp-smiley" style="height: 1em; max-height: 1em;">!!!!!! <a href="https://t.co/DuzeCMYikW" rel="noopener noreferrer nofollow">pic.twitter.com/DuzeCMYikW</a></p>— MMCrypto (@MMCrypto) <a href="https://twitter.com/MMCrypto/status/1692219425846407644?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 17, 2023</a> 
  </blockquote> 
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
</figure> 
<h2 id="max-keiser-bearish-or-bullish-on-bitcoin" data-name="max-keiser-bearish-or-bullish-on-bitcoin" class="wp-block-heading"><strong>Max Keiser – Bearish or Bullish on Bitcoin?&nbsp;</strong></h2> 
<p>One man who’s been calling the shots for some time now is Max Keiser, a pro-Bitcoin advocate and advisor to El Salvador’s president who boldly predicted that the king crypto will soon hit $1,00,000 to $220,000 price point, is sounding bearish now.&nbsp;</p> 
<p>Recently in a tweet, Max Keiser <a href="https://twitter.com/maxkeiser/status/1692140627285201154?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1692140627285201154%7Ctwgr%5E63a33fbcc5a5057117c9cd5c344fe933f9786100%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Flivecoins.com.br%2Fbitcoin-cai-e-assusta-ate-os-investidores-mais-confiantes%2F" rel="noopener noreferrer nofollow"><strong>surprised</strong> </a>the crypto community by adopting a bearish stance on Bitcoin’s future. This unexpected shift comes as 10-year U.S. Treasury yields surge to levels not seen since 2008. The major reason behind his change of heart is the rising rates on the crypto market. He suggested it is a potential challenge for Bitcoin’s price due to increased capital flow into higher-yielding investments. </p> 
<p>However, his new outlook is contradicting his own bullish predictions for Bitcoin’s value, leaving followers puzzled and worried. Since August and September are historically a month of low volatility and decline in these months is quite normal.&nbsp;</p> 
<p>In this context, there is still a lot of doubt about inflation and interest rates in the U.S., and the committee of the Federal Reserve points out that inflation is still high by 2% even though some measures have gone down recently.&nbsp;</p> 
<p>However, the CME’s FedWatch tool suggests an 86.5% chance of the Fed raising interest rates by 0.25%, and a 13.5% chance of a larger increase of 0.5%, which could potentially reach its highest level since 2000.</p> 
<p>Bitcoin plummeted 4.2% in August, and the S&amp;P500 index, which tracks the top 500 US firms, sank 3.7%. GOLD fell 3.98% at this time. All because Bitcoin’s trading volume is five years low, investors aren’t interested.</p>

Max Keiser’s Stance on Bitcoin Shifts from Bull to Bear – What’s Behind It?

Table of Contents

CoinPedia News

Other articles published on Aug 18, 2023

Scam Alert: Hackers Drains Exactly Protocol of 4300 ETH

There is no such thing as a BEAR MARKET

Post-Polygon 2.0 Update Announcement and Amidst Cardano’s Volatility, Borroe’s Presale Stirs Exci...

Ripple News: Mastercard Announces Partnership with Ripple and ConsenSys: Here Are the Details...

How Bitcoin Spark is Pioneering Change Alongside Established Altcoin Cardano

Whats Is Passive Income?

Join our free newsletter for daily crypto updates!