Bitcoiners’ ‘bullish impulse’ on recession may be premature: 10x Research

It may be too early for Bitcoiners to start getting bullish over the longer-term impacts of a potential recession on Bitcoin’s price, says 10x Research head of research Markus Thielen. Thielen said in an April 11 markets report that credit spreads continue to widen, indicating that “recessionary concerns may be seeping deeper into the economy. ”“Expecting a bullish impulse is too early,” he said. Bitcoin may face short-term headwindsWhile the long-term effects of a recession could be bullish for Bitcoin (BTC) — due to the monetary easing that typically follows US Federal Reserve rate cuts — Thielen warned that Bitcoin may face headwinds before gaining bullish momentum source: https://cointelegraph.com/news/bitcoin-bullish-impulse-recession-premature-crypto-analyst-forecast?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound