Bitcoin and Crypto Markets Brace for Major Economic Showdown
Bitcoin and other cryptocurrencies have been experiencing major ups and downs, similar to the stock market. Now, they're facing a big moment as a potential clash looms between former U.S. President Donald Trump and Federal Reserve Chair Jerome Powell.
Despite market turmoil caused by trade tensions, bitcoin has stayed more stable compared to tech stocks like those in the Nasdaq. Billionaire investor Ray Dalio has warned that we could be heading toward a financial crisis even worse than the one in 2008, calling it a possible “breakdown of the monetary system.”
In a surprising move, Treasury Secretary Scott Bessent recently made a bold prediction about bitcoin’s future price. At the same time, the CEO of Binance—the world’s largest cryptocurrency exchange—revealed that they are helping some countries explore using bitcoin as a reserve asset, similar to what the U.S. has done.