Thriller Insights - S3EP3: Bull Case For Bitcoin

Bitcoin and the rest of the crypto market has been spiraling downwards after a minor spike yesterday to 10.4K, leading to a continuation of the downwards pressure that Bitcoin and other major alts have incurred over the past several weeks.

Now, crypto analysts, traders and notable personalities are noting that there is a high probability that Bitcoin’s recent pullback extends significantly lower, but that in the long-term Bitcoin’s price may be bolstered by growing global economic weakness.

Over the past week, the global economy has flashed several warning signals that may tell investors that turmoil is imminent. The ECB recently explained that the economy will require significant monetary stimulus in order for its current growth to be sustained, and that they may cut interest rates in the coming months. Furthermore, the US GDP stagnated this past quarter dropping from 3.1% growth in Q1 2019 to 2.1% growth in Q2 of 2019.

At the moment things are just bubbling at the surface for Bitcoin and there has been no major momentum since things started to slide from the 2019 peak of 14K.

That could all be about to change though as an expected interest rate cut in the US next week could act as another catalyst in the short term.

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