Bitcoin will likely remain in the current range on Monday and then have a bearish breakout.
Bitcoin has had a tough year in 2022 as the price has collapsed by almost 60%.
This decline has invalidated the key claim that Bitcoin was a good hedge against inflation. Inflation has surged to the highest level in more than four decades.gold has been in a strong bearish trend this year. It has lost about 5% of its value and by 20% from the highest point this year. The same is true for Treasury inflation-protected securities . Inflation-protected bond tracked by the Intercontinental Exchange has dropped by 13.2% this year. In comparison, ICE’s loss for index of regular treasuries has dropped by about 13.5%.. The data revealed that the American economy added over 250k jobs in September. While that was lower than this year’s monthly average, it still signals that the economy was doing well.
Therefore, analysts expect that the Federal Reserve will continue hiking interest rates in the coming months. As a result, it was a sea of red in America’s equities as the Dow Jones crashed by more than 600 points. The
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