There has been a decline in cryptocurrencies in the last 24 hours with the news of Iran’s retaliation. BTC recovered. At the time of writing, the price was trying to reclaim the key $71,500 level. Although altcoins made weak gains, they continue the day positively. So what are the predictions for cryptocurrencies?
Bitcoin (BTC) and Store of Value
Why CarldBMenger today Bitcoin 
$69,491He reminded once again that ‘ is the best store of value. In this respect, Bitcoin should reach many more cryptocurrency investors in the long run. The famous commentator said that by memorizing 12/24 words, you can get rid of the trouble of carrying kilos or even tons of gold. Banks can’t confiscate it, you don’t have to deal with heavy bars, and you can travel with your money wherever you go as long as you have your wallet key in mind.
Think about wars. The third world war, which is expected to officially begin. Will people save their wealth from enemies by burying it in suitable places to avoid losing their wealth, as in previous centuries? Will he camouflage pots and other vehicles by melting their gold?
When the 2022 war started in Russia, we saw a significant demand for cryptocurrencies. Now, if a global war begins, this could be a terrible time for Bitcoin to come of age as a store of value.
Cryptocurrencies Review
Today’s US data was not much beyond expectations. Non-Farm Employment was announced as 12K. This is probably related to the disruption in data collection due to the major hurricanes that affected the country. We should see its revision coming in the next report. Average hourly earnings are within monthly expectations.
The unemployment rate did not exceed the expectation of 4.1%. The Fed should continue to reduce interest rates and incoming data reins in recession concerns. We have been talking for months that the risk of recession should not appear while discounts continue, because both are signals of decline.
Ki Young Ju mentioned today that stablecoins are being taken into consideration for Bitcoin’s rise. Unlike previous cycles CoinbaseUSD And ETF Entries in the channel have more impact on prices.
“Stablecoins alone cannot provide sufficient buy-side liquidity for #Bitcoin. The BTC-to-stablecoin ratio is 6.05, meaning BTC reserves are six times higher than stablecoins, similar to the recent ATH. ETF flows and Coinbase USD liquidity will be crucial for the next few months.”
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
