Analyst: Bitcoin's Maximum Potential Drop Is Around $50,000 If U.S. Recession Happens
On 10 March, DeFi analyst Adaora Favour Nwankwo said in a post on the X platform, ‘Bitcoin's price action is closely tied to US economic indicators. Here's one possible scenario: if a recession occurs, Bitcoin's maximum potential decline is around $50,000; if there is no recession, its floor is expected to be between $70,000 and $75,000. Key market watchers are paying close attention to Wednesday's release of Consumer Price Index (CPI) data, which could have a significant impact on Bitcoin's price action.’
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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