If U.S. defaults on debt Bitcoin could rise nearly 70%, says Standard Chartered analyst
Bitcoin bulls have had a good year so far. If the U.S. defaults on its debt, it could get even better, at least in terms of their Bitcoin investment. Higit pa mula sa Fortune: 5 side hustles kung saan maaari kang kumita ng higit sa $20,000 bawat taon—lahat habang nagtatrabaho sa bahay Naghahanap ka ba ng dagdag na pera? Ang CD na ito ay may 5.15% APY ngayon. Bumili ng bahay? Narito kung magkano ang matitipid Ito ay kung gaano karaming pera ang kailangan mong kumita taun-taon para kumportableng makabili ng $600,000 na bahay That‘s according to Geoff Kendrick, Standard Chartered’s head of digital assets research. He told Insider this week that a U.S. default—which he called a “low-probability, high-impact event”—could cause Bitcoin to jump by about $20,000, an increase of nearly 70% from current levels. Bitcoin started the year at well below $17,000 but is now hovering near $30,000. Thats still well off its all-time high of nearly $69,000 in November 2021, and some investors who bought Bitcoin around then are no doubt still licking their wounds. Bitcoin, Kendrick predicted, would fare well even if overall cryptocurrencies, which trade more like stocks, did not. “So actually, the optimal trade would probably be long