• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Stifel
Nexo Logo

Stifel says Three Macro Factors Could Drop Bitcoin Price To $10,000

Dan B by Dan B
6 months ago
in Cryptocurrency news
Reading Time: 3 mins read
Advertisement

Stifel’s Chief Equity Strategist and Managing Director Barry Bannister believe that by 2023  bitcoin could lead to a plunge in price to $10,000.

When discussing bitcoin’s price with Business Insider, Bannister said that a tightening of Federal Reserve policy and reducing the balance sheet would negatively impact bitcoin’s value.

Related Reading | Bitcoin Sets Stage For Reversal As Unmoved Supply Nears All-Time High

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The price is closely tied with the global money supply regarding bitcoin. Therefore, the strategist identified this first essential macro factor and cited that since the S&P 500 moved into the US dollar as its power base, any given Supply/Demand situation will affect BTC value.

If the money supply measure known as M2 slows down, it is likely that US financial status will tighten. Stifel Managing Director, Bannister believes this would cause a crash in bitcoin prices and other speculative assets like stocks or bonds. These are also denominated through loans given by banks with an interest rate attached.

Bannister pointed the Fed’s tightening could stop bitcoin’s growth as a second macro factor. In addition, the 10-year US Treasury yield has been increasing, and this will likely result in a surge. Overflow halts or slows down bitcoin transactions.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Bannister said;

In 2022, we see bitcoin in a broad trading range bounded by year-to-date intra-day levels with greater downside risk in 2023 <…> If the rising 10Y TIPS yield pulls gold lower, that also pressures Bitcoin. If Bitcoin divided by gold falls to the low end of its range (Fed tightens). Bitcoin could drop to $10,000 by 2023.

Lastly, the analyst from Stifel said that the Fed’s decision to tighten would create a lower equity risk premium. The action is good for bitcoin’s growth.

Analysts Vs. Stifel Predictions

With the Federal Reserve announcing it will ease its tightening, bitcoin could be set for a correction.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.
Bitcoin Price
Bitcoin price is below its $38,000 support | Source: BTC/USD Chart on Tradingview.com

There is a deep dive in the cryptocurrency market, and bitcoin’s value has dropped by almost 9.4% in a week. If Bannister’s projection becomes true, this will be a more than a 75% drop from its current state.

Related Reading | Bitcoin Plunges Below $40 As Russia Has Reportedly Given Its Forces Order To Attack Ukraine

Several analysts report that bitcoin will likely crash further but rebound to a new all-time high. As written by InTheMoneyStocks’ chief market strategist, Gareth Soloway, bitcoin’s price is expected to move back up above $17,000 in the coming weeks or months.

However, Soloway believes that bitcoin will not last in the position for much longer. He said this based on how de-leveraging has affected digital assets as a whole and not just cryptocurrency specifically.

Yet, it won’t be the first time we will see a low of $10,000. For instance, in December 2017, BTC reached its high at around $20,000 and then went into winter. This resulted in an 80% plunge before finally recovering some ground.

Investors will likely opt for cryptocurrencies when interest rates rise, boosting digital assets. According to our report by Pantera Capital CEO Dan Morehead, increased stability in USD may lead people towards bitcoin over other coins because it’s more hedged against inflation risk while still being transnational.

                 Featured image from Pixabay, chart from TradingView.com
Tags: bitcoinbitcoin priceblockchaincryptocurrencyStifel
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Dan B

Dan B

Veteran crypto and finance writer & editor.

Related Posts

XRP

XRP Sluggish At Resistance – Will It Break Out After 2 Months Of Vertigo?

8 mins ago
Challenging Tiffany & Co. and What Could be the Most Expensive Public Sale in NFT History

Challenging Tiffany & Co. and What Could be the Most Expensive Public Sale in NFT History

2 hours ago
Bitcoin price

Bitcoin Price Trades A Little Over $24,000, Can It Target $27,000?

2 hours ago
Shiba Inu price

Shiba Inu Price Forms Cup And Handle Pattern, What Does This Mean?

5 hours ago
ethereum

Ethereum Hits New Milestone, Investors Accumulate Ahead Of Merge

7 hours ago
Ethereum Rejects $2k, Retest Of $1,800 Imminent

Ethereum Rejects $2k, Retest Of $1,800 Imminent

8 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Nukplan (NKPL) Is Now Available for Trading on LBank Exchange

August 16, 2022

Blockchain ACGN Game NEO FANTASY, Rising Star Of Gamefi!

August 16, 2022

Tigon Mobile P2E Game Bless Global Pre-Registration Begins — “Expanding the P2E Ecosystem”

August 15, 2022

Revolutux, Solana, and Chainlink: Why the cryptocurrency market is optimistic about these names

August 15, 2022

The new Polygon Web3 platform, FrontFanz, signs over 100 more creators to join their platform

August 15, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.