Why Bitcoin has been trading in a narrow range around $28,000. The culprit? The impasse between markets and policymakers after Federal Reserve Chairman Jerome Powell publicly stated that interest rates are unlikely to fall this year. Meanwhile, risk asset markets have clearly expected interest rates to fall in the coming months.
Pechman explains why the Fed has raised interest rates above 5% and the apparent disconnect between the 3.4% unemployment rate and the 42 million North Americans receiving SNAP (food stamps). In addition, the analyst delves into the $31.5 trillion government debt and the discussion of raising that limit further.
More importantly, however, Pechman explains that if the government does not bluff by keeping interest rates above 5% throughout 2023, bitcoin could revert back to sub $20,000 levels. As for the memecoin invasion, Pechman sees the PEPE rebound (and subsequent correction) as mere industry rotation and not a competitive coin season by any means. In addition, the analyst explains why futures markets are needed to create balanced and more efficient market pricing for PEPE.
According to the news Pechman is increasing the cash position of his investment holding company Berkshire Hathaway to the highest level in 18 months.
In the final section, Pechman explains what caused Bitcoin network fees to spike above $10, causing Binance to stop withdrawals.
Pechman explains why the Fed has raised interest rates above 5% and the apparent disconnect between the 3.4% unemployment rate and the 42 million North Americans receiving SNAP (food stamps). In addition, the analyst delves into the $31.5 trillion government debt and the discussion of raising that limit further.
More importantly, however, Pechman explains that if the government does not bluff by keeping interest rates above 5% throughout 2023, bitcoin could revert back to sub $20,000 levels. As for the memecoin invasion, Pechman sees the PEPE rebound (and subsequent correction) as mere industry rotation and not a competitive coin season by any means. In addition, the analyst explains why futures markets are needed to create balanced and more efficient market pricing for PEPE.
According to the news Pechman is increasing the cash position of his investment holding company Berkshire Hathaway to the highest level in 18 months.
In the final section, Pechman explains what caused Bitcoin network fees to spike above $10, causing Binance to stop withdrawals.