The latest episode of The Market Report with Cointelegraph is out! Tune in to watch Cointelegraph’s resident expert, Marcel Pechman, discuss why crypto prices are going down after Bitcoin failed to break above $29,000.
In today’s The Market Report episode, analyst and writer Marcel Pechman discusses why crypto prices are going down after Bitcoin failed to break above $29,000, plus whether or not Jerome Powell is lying about keeping interest rates above 5%, and lastly, what Warren Buffett meant by the “incredible period” coming to an end. The show airs every Tuesday on the Cointelegraph Markets & Research YouTube channel.explains why Bitcoin has been trading in a narrow range near $28,000.
Pechman explains why the Fed raised interest rates above 5% and the apparent disconnection between the 3.4% unemployment rate and the 42 million North Americans who are SNAP recipients . Furthermore, the analyst dives into the $31.5 trillion in government debt and the discussion to further raise this limit.
But, more importantly, Pechman explains that Bitcoin could revisit sub-$20,000 levels if the government is not bluffing by keeping interest rates above 5% throughout 2023. As for the memecoin invasion, Pechman thinks that the PEPE rally is merely a sector rotation, not an altcoin season by any means. Moreover, the analyst explains why futures markets are needed to create balanced and more effective market pricing for PEPE.
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