Bitcoin Could Boom If US Recession Worse Than Projected, Says Analyst

In a confluence of economic factors, the United States appears to be headed for a stronger-than-anticipated recession, which could force the Federal Reserve’s hand on rate cuts, according to Valentin Fournier, an analyst at BRN.

This scenario, while grim for the broader economy, holds potential for a significant Bitcoin rally, pushing the cryptocurrency past previous highs, he wrote in a BRN research note shared with Decrypt.

At the time of writing the Bitcoin price is trading at $58,120, down about 1.1% over the last 24 hours. It sank to a 24-hour low of $57,072 during early Asian trading hours, according to Coingecko data.

Despite this recent downturn, Fournier is optimistic about Bitcoin’s future.

“Bitcoin is not yet fully out of its downward trend, as…