Jon
Opinion writer on 7trade7
“A healthy economy will experience many recessions over the long-term. A bubble is one that does not experience a recession. This is a case of a bubble and recession. Fake markets are not real.Analyzing the European situation, Robin Brooks (chief economist at IIF), warned about a “deep” economic recession. This was based on consumer confidence data. “With the second quarter GDP revision negative the White House stated that this isn’t the definition of recession,” popular Twitter account Unusual whales continued on the confusion about what constitutes a slump which started earlier in the year.
They advocate for NBER’s which is “a significant decline of economic activity spread across all sectors of the economy lasting longer than a few weeks.”This event occurs after the Bank of England intervenes abruptly in the United Kingdom’s bond market. They then return to quantitative easing (QE), in a move that is reminiscent of the atmosphere during Bitcoin’s birth. $19,000 seems unstable However, the Bitcoin price action managed to avoid significant volatility even though the monthly close was just one day away. Similar: Bitcoin’s ‘great detox’ could cause a drop in the price to $12K. BTC/USD was trying to break $19,000 support at the time of writing. Although the -0.6% GDP result was better that the forecasted -0.9%, Material Indicators, an on-chain analytics resource, had little to celebrate. Material Indicators shared a screenshot from the Binance BTC/USD order books and warned that the market bottom was not in. Strong economic report indicates that FED tightening is not having much, if any, impact. Translation: More aggressive rate increases through Q4 and into 2023,” it predicted as part of the accompanying comments. BTC/USD order book data (Binance) chart. Source: Material Indicators/ Twitter These views and opinions are the author’s and do not necessarily reflect those of Cointelegraph.com. You should do your research before making any investment or trading decision.
