Tune in to Cointelegraph’s Market Talks to watch Jamie Coutts and Ray Salmond discuss how and why Bitcoin cycles are changing.
speaks with Jamie Coutts, a chartered market technician and crypto market analyst at Bloomberg Intelligence.
When asked whether Bitcoin’s pre- and post-halving price action could differ from previous cycles due to a change in global monetary policy, Coutts said: “I’ve been writing about this for most of the year. We do have some strong fundamentals in the space, but ultimately, what drives risk assets is liquidity. The longer that we have this tightening cycle, and if we start to see an uptick in unemployment and more stress in the banking sector, then there could be a bit more pain for risk assets like Bitcoin.
“We could be near the end. There is still a lot of underlying stress in the U.S. banking system and other areas of the economy. I think this is somewhat different to any other Bitcoin cycle that we’ve seen, but ultimately, people will need to keep in mind that we are living in a fiat and credit-money-based money system, and inevitably, there will need to be a return to some form of easing because essentially the system cannot handle long periods of deflation.
To hear more about Coutt’s views on the macro, Bitcoin, Ethereum, altcoins and stablecoins, tune in to the full episode of
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