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Concern about slowdown in US economy may support cryptocurrencies – Macquarie
Analysts at investment bank Macquarie shared their expectations of the potential growth of cryptocurrency assets amid a slowdown in the US economy. They forecast US economy growth pace to decelerate, leading to lower interest rates by the Federal Reserve. This, in turn, will support the rise of cryptocurrencies.
Macquarie also notes that the cryptocurrencies are well-adjusted to the unstable macroeconomic environment. Even despite their temporary decline, the upside potential remains high.
Macquarie believes central banks’ actions and monetary policy will lead to the growth of the crypto market in the future. The analysts cite the historical correlation between monetary conditions and dynamics of crypto-assets. Given these factors, the company expects the digital currency market to improve in the medium term.
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