{"id":13867,"date":"2022-09-03T18:51:49","date_gmt":"2022-09-03T18:51:49","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/avoid-bitcoin-and-crypto-amid-fears-of-recession\/"},"modified":"2022-09-03T18:51:49","modified_gmt":"2022-09-03T18:51:49","slug":"avoid-bitcoin-and-crypto-amid-fears-of-recession","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/avoid-bitcoin-and-crypto-amid-fears-of-recession\/","title":{"rendered":"Avoid Bitcoin and Crypto Amid Fears of Recession"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>JPMorgan Asset Management\u2019s Chief Global Strategist, David Kelly is advising investors to stay clear of <a href=\"https:\/\/igaming.org\/cryptocurrencies\/section\/what-is-a-bitcoin\/\">Bitcoin<\/a> (BTC) and other \u2018risky assets\u2019 while the U.S. economy is facing a recession.<\/p>\n<p>Speaking with Bloomberg, the strategists <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-29\/jpmorgan-s-kelly-on-trading-hawkish-fed-buy-value-sell-crypto?utm_medium=social&amp;utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;utm_content=crypto#xj4y7vzkg\">said<\/a> that a recession is looming with more and continued volatility in markets on the horizon:<\/p>\n<p><em class=\"acss3ea9d\">\u201cThe economy has got one foot into a recession and the other on the banana peel now.\u201d<\/em><\/p>\n<p>Kelly believes that the U.S. economy will somewhat turn back to normal by the end of 2023.<\/p>\n<p>The JP Morgan Chief\u2019s comments follow the speech of U.S. Federal Reserve Chairman, Jerome Powell, last week which shook up the markets, causing stocks and crypto to lose 10% in the blink of an eye. Powell said the Fed is not going to lower interest rates in the short term as it is committed to bringing inflation down to 2%:<\/p>\n<p><em>\u201cThe Federal Reserve is overestimating the strength of the US economy as it feels guilty about the fact that inflation went up under their watch.\u201d<\/em><\/p>\n<p>With uncertainly hanging over the markets, Kelly suggest that it is best to keep away from Bitcoin and other tech stocks. If you hold crypto assets, you might want to sell them now, he said.<\/p>\n<p>At the time of writing, the most valuable cryptocurrency by market cap, <a href=\"https:\/\/igaming.org\/cryptocurrencies\/section\/what-is-a-bitcoin\/\">Bitcoin<\/a>, is moving hands at <a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\">$19,901<\/a> according to <a href=\"https:\/\/igaming.org\/cryptocurrencies\/coinmarketcap\/\">CoinMarketCap<\/a>, down almost 8.5% in the past week.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/jpmorgan-avoid-bitcoin-and-crypto-amid-fears-of-recession\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) JPMorgan Asset Management\u2019s Chief Global Strategist, David Kelly is advising investors to stay clear of Bitcoin (BTC) and other \u2018risky assets\u2019 while the U.S. economy is facing a recession. Speaking with Bloomberg, the strategists said that a recession is looming with more and continued volatility in [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13868,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/13867"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=13867"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/13867\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/13868"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=13867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=13867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=13867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}