3 dangers that could slow the rise of #Bitcoin!
Despite the high bullish expectations for #criptomonedas , certain factors cannot be ignored.
Although the price of bitcoin (BTC) started the week rising to more than 66,000 dollars (USD), there are factors that can affect its performance.
At present, there are mainly 3 potential risks in the global panorama that could slow the rise in the price of bitcoin:
Kamala Harris' victory:
In three weeks, precisely on November 5, the citizens of the United States will elect their next president. This is something that has an impact on expectations about the bitcoin and cryptocurrency market in the main economic power.
Escalation of war conflicts
The increase in international tensions in critical areas such as the Middle East and the conflict between Russia and Ukraine also represent a threat to bitcoin. History shows that during times of war or global uncertainty, investors prefer to reduce risks and turn to more traditional assets, such as gold or Treasury bonds.
Global recession
With the recent higher-than-expected inflation data in the United States and the slowdown in the labor market, the possibility of a recession is still on the table. This is despite the current growth in the stock markets of the United States and China.
Therefore, as more data emerges that validates a scenario of economic cooling, the demand for risk could decrease. Consequently, this could slow the rise of bitcoin, unless its valuation grows due to its scarcity of supply and decentralized mining, attributes that make it look like digital gold.
