{"id":175603,"date":"2023-05-17T13:32:48","date_gmt":"2023-05-17T13:32:48","guid":{"rendered":"https:\/\/precoinnews.com\/?p=175603"},"modified":"2023-05-17T13:32:48","modified_gmt":"2023-05-17T13:32:48","slug":"new-survey-says-bitcoin-is-safer-than-the-us-dollar-watch-the-market-report","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/new-survey-says-bitcoin-is-safer-than-the-us-dollar-watch-the-market-report\/","title":{"rendered":"New survey says Bitcoin is safer than the US dollar \u2014 Watch The Market Report"},"content":{"rendered":"

On today\u2019s episode of The Market Report<\/em>, analyst and writer Marcel Pechman discusses if Bitcoin (BTC) is safer than the United States dollar, considering the U.S. government\u2019s risk of defaulting on its debt. He also covers why Bitcoin\u2019s $28,000 resistance will not be a walk in the park and, finally, what is happening between Celsius, Ethereum and Lido staking. The show airs every Tuesday on the Cointelegraph Markets & Research YouTube channel.<\/p>\n

The first news article covers a Bloomberg Markets survey showing Bitcoin as a top 3 asset in the event of a U.S. debt default. For Pechman, it is no surprise that Bitcoin trumps fiat currencies in investors\u2019 picks, considering the central banks from the eurozone, Japan, Canada, England and Switzerland boosted their borrowing programs from the U.S. Federal Reserve in March 2023. There\u2019s a high correlation to fiat currencies, putting the asset class at significant risk if a U.S. debt default happens.<\/p>\n

https:\/\/www.youtube.com\/embed\/FDbfsLKH8bA<\/p>\n

Pechman predicts that investors\u2019 allocations in gold would be 10 times higher than Bitcoin\u2019s due to the cryptocurrency\u2019s lower market capitalization and high volatility. On the positive side, 11% of retail investors would add Bitcoin to their portfolio in the event of a government shutdown versus 46% for gold. What are the odds of Bitcoin breaking above $100,000 in the case of a government shutdown? No spoilers; check the show.<\/p>\n

On to the show\u2019s next topic: Pechman discusses why Bitcoin\u2019s $28,000 resistance will likely prove stronger than expected. The recent correction down to $25,800 was probably caused by high transaction fees, but Pechman explains that the network worked exactly as intended and high fees are the network\u2019s defense against spamming.<\/p>\n

The problem holding back a quick recovery above $28,000 is professional traders\u2019 positioning using derivatives. Before the event, whales and market makers were already neutral-to-bearish.<\/p>\n

In the final part of The Market Report<\/em>, Pechman explains the $780 million Ether (ETH) movement from the Lido staking platform by Celsius \u2014 the failed crypto lending platform.\u00a0No one knows if the Ether (ETH) will be sold at market and eventually paid out in U.S. dollars to Celsius creditors. Don\u2019t miss it! The show is available exclusively on the Cointelegraph Markets & Research YouTube channel.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

On today\u2019s episode of The Market Report,<\/p>\n","protected":false},"author":3,"featured_media":175602,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nNew survey says Bitcoin is safer than the US dollar \u2014 Watch The Market Report - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/new-survey-says-bitcoin-is-safer-than-the-us-dollar-watch-the-market-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New survey says Bitcoin is safer than the US dollar \u2014 Watch The Market Report - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"On today\u2019s episode of The Market Report,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/new-survey-says-bitcoin-is-safer-than-the-us-dollar-watch-the-market-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-17T13:32:48+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/05\/New-survey-says-Bitcoin-is-safer-than-the-US-dollar-\u2014-Watch-The-Market-Report.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/new-survey-says-bitcoin-is-safer-than-the-us-dollar-watch-the-market-report\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/new-survey-says-bitcoin-is-safer-than-the-us-dollar-watch-the-market-report\/\",\"name\":\"New survey says Bitcoin is safer than the US dollar \u2014 Watch The Market Report - 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