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Perspective: Whether the Bitcoin Price Rally Can Continue Will Largely Depend on the Macro-Economic Situation and Any New Developments in the Trade Sector
BlockBeats News, July 10th: Regarding the trend following Bitcoin's break of a new high, Sid Powell, CEO and Co-Founder of crypto asset management company Maple, stated that whether Bitcoin's upward trend can continue largely depends on the macroeconomic situation and any new developments in the trade sector. He believes that if trade talks hit a snag before the August 1 deadline for Trump's trade agreement, it may bring more resistance to Bitcoin. However, if the trade agreement makes further progress and low inflation data prompts the Fed to restart key interest rate cuts, it may support the continued upward trend of Bitcoin.
In addition, John Glover, Chief Investment Officer of the crypto lending platform Ledn and former Managing Director at Barclays Investment Bank, stated, "Currently, Bitcoin appears to be merely retesting the previous all-time high from May 22nd and facing selling pressure at that level." (Jinse)
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