Bitcoin Price Prediction as Recession Fears Rise – Can BTC Reach $100,000 After Bear Market?
Over the previous few days, the Bitcoin price has hardly budged from its $19,000 level, mostly maintaining a narrow range. On October 12, BTC barely made any moves and soared about 0.25% in the 24 hours.
Concern about a recession among investors is comparable to that voiced in 2020 when 75% of respondents expressed concern about a downturn at the height of the epidemic.
Even in the middle of a severe economic slump, a well-thought-out plan can considerably improve one's capacity to make sensible financial decisions.
According to Nationwide's annual Advisor Authority poll, released on Monday, investors and advisers are worried by the present macroeconomic situation. As a result, their optimism has plummeted considerably.
Investor confidence in the 12 months has dropped from 49% a year ago to 39%. Equally dismal, financial advisors' and experts' optimism is 48%, down 15% from 2021. While 54% of investors anticipate greater volatility in the next 12 months, their fear of a recession is 20% higher.
It's frightening to see that 75% of investors are worried about a recession, just like they were in 2020 at the height of the epidemic. Advisors and financial experts are even more anxious, with 82% expecting a recession in 2022, up from 77% in 2020.
Hence, investors are shifting away from Crypto and stocks and toward safe-haven assets due to the fear of a recession.
On Tuesday, the IMF lowered its projections for global economic growth in 2023, citing Russia's protracted war with Ukraine, widespread inflationary pressures, and increased interest rates that increase borrowing rates for businesses and consumers as reasons.
The international financing agency for 190 countries has reduced its growth forecast for the world for 2019 to
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