As Bitcoin nears $25K, questions about rally’s sustainability remain
Cointelegraph
Published Feb 08, 2023 09:01PM ET
Updated Feb 08, 2023 11:20PM ET
It is no secret that the global economy has continued to weaken over the course of the past year. To this point, on Jan. 19, the United States government hit its “debt ceiling,” i.e. the total sum of money that the U.S. Treasury can borrow to fund its ongoing federal operations, leading to renewed concerns that more financial pain and the economic slowdown could be incoming.
Similarly, on the other side of the Atlantic, the United Kingdom has been struggling as well. This is made evident by the fact the number of company insolvencies registered in 2022 hit 22,109 — a 57% spike from the year prior and its highest rate since 2009. Not only that, the International Monetary Fund recently released a report suggesting that the United Kingdom would be the only G-7 nation to face a recession this year.
h3 Is $25,000 the next stop for Bitcoin?/h3Continue Reading on Coin Telegraph
Get The News You Want
Written By: Cointelegraph
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.