New survey says Bitcoin is safer than the US dollar — Watch The Market Report

On today’s occurrence of The Market Report, expert and writer Marcel Pechman discusses if Bitcoin (BTC) is safer than the United States dollar, considering the U.S. government’s hazard of defaulting connected its debt. He besides covers wherefore Bitcoin’s $28,000 absorption volition not beryllium a locomotion successful the parkland and, finally, what is happening betwixt Celsius, Ethereum and Lido staking. The amusement airs each Tuesday connected the Cointelegraph Markets & Research YouTube channel.

The first quality article covers a Bloomberg Markets survey showing Bitcoin arsenic a apical 3 plus successful the lawsuit of a U.S. indebtedness default. For Pechman, it is nary astonishment that Bitcoin trumps fiat currencies successful investors’ picks, considering the cardinal banks from the eurozone, Japan, Canada, England and Switzerland boosted their borrowing programs from the U.S. Federal Reserve successful March 2023. There’s a precocious correlation to fiat currencies, putting the plus people astatine important hazard if a U.S. indebtedness default happens.

Pechman predicts that investors’ allocations successful golden would beryllium 10 times higher than Bitcoin’s owed to the cryptocurrency’s little marketplace capitalization and precocious volatility. On the affirmative side, 11% of retail investors would adhd Bitcoin to their portfolio successful the lawsuit of a authorities shutdown versus 46% for gold. What are the likelihood of Bitcoin breaking supra $100,000 successful the lawsuit of a authorities shutdown? No spoilers; cheque the show.

On to the show’s adjacent topic: Pechman discusses wherefore Bitcoin’s $28,000 absorption will apt beryllium stronger than expected. The caller correction down to $25,800 was astir apt caused by precocious transaction fees, but Pechman explains that the web worked precisely arsenic intended and precocious fees are the network’s defence against spamming.

The occupation holding backmost a speedy betterment supra $28,000 is nonrecreational traders’ positioning utilizing derivatives. Before the event, whales and marketplace makers were already neutral-to-bearish.

In the last portion of The Market Report, Pechman explains the $780 cardinal Ether (ETH) movement from the Lido staking platform by Celsius — the failed crypto lending platform. No 1 knows if the Ether (ETH) volition beryllium sold astatine marketplace and yet paid retired successful U.S. dollars to Celsius creditors. Don’t miss it! The amusement is disposable exclusively connected the Cointelegraph Markets & Research YouTube channel.