Opinion: Cryptocurrency Market Expected to Rebound in March, Panic Will Not Last Long

BlockBeats News, February 28th, as the PCE data was released, the price of Bitcoin saw a rebound, and optimism about the macroeconomic situation improving next month is growing.

Julien Bittel, Director of Global Macro Research at Global Macro Investor, said that when considering the impact of the macro environment on Bitcoin, it brought good news to the bulls. He stated: "When financial conditions tighten, liquidity is drained, and the economy unexpectedly begins to slow down. The 'panic' affecting the market will not last long, and all of this will reverse next month. Over the past two months, financial conditions have rapidly improved — the US dollar has fallen, bond yields have decreased, oil prices have dropped — laying the foundation for the cryptocurrency market's recovery." (Cointelegraph)