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Coinbase discussed the US economy and cryptocurrencies in its weekly report. Coinbase analysts wrote that the US economy may have peaked in the second quarter of 2024.
Citing macroeconomic data showing that the US economy has begun to slow down, analysts stated that retail investors may hesitate to buy new stocks or cryptocurrencies if the US economy enters a recession.
According to analysts, the increase in the unemployment rate in the United States to 4.1% in June and the reversal of the Treasury bond yield curve from mid-2022 are historically considered a strong indicator of recession for the US economy.
The report written by Coinbase analysts David Duong and David Han included the following statements:
<blockquote>
 “We think it is very likely that the US economy will peak in the second quarter of 2024.
 This is one of the reasons why we think the Fed will cut interest rates starting September 18th.
 However, July interest rate cuts are too early and there is no FED meeting in August. That's why September is expected for the first interest rate cut and it makes sense.”
</blockquote>
<h2 id="they-pointed-to-september-for-the-ascension">They Pointed to September for the Ascension!</h2>
Coinbase analysts claimed that the FED's interest rate cut should stimulate the markets, but if there is fear of recession, the cuts will not have the expected effect.
<blockquote>
 “So if the US economy enters a recession, retail investors are likely to be reluctant to buy new stocks or cryptocurrencies.”
</blockquote>
Coinbase told analysts that they believe the elections will have a positive impact on the cryptocurrency market, pointing to the US elections and arguing that no matter which candidate wins, the elections are a strong incentive to buy Bitcoin as an alternative to the traditional financial system.
Analysts, who also commented on Spot Ethereum ETFs, stated that the Ethereum price may surprisingly perform better with the start of ETH ETF inflows.
Finally, analysts who made a general evaluation stated that serious increases will begin in the crypto market in late September, but volatility will be high in July and August.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/coinbase-analysts-shared-their-short-and-medium-term-expectations-for-bitcoin-and-ethereum/" rel="noopener noreferrer nofollow">Coinbase Analysts Shared Their Short and Medium Term Expectations for Bitcoin and Ethereum!</a>

Coinbase Analysts Shared Their Short and Medium Term Expectations for Bitcoin and Ethereum!

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