Many feel that Bitcoin and other cryptocurrencies have a chance to explode with what is taking place in the economy. The United States GDP numbers came out and they showed Q2 slowed compared to Q1.
This provides many with the belief the Fed will cut interest rates. The easing of central banks around the world is ongoing as the global economy slows.
Bitcoin is often priced in USD meaning it is going to get a boost as the pair declines. With the easing, many feel the USD will drop, something that is likely compared to BTC.
Tom Lee is one who is in this camp. He feels the slowing economy will provide the Fed with the ammunition to set Bitcoin flying, even if that is not their intent.
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