Bitcoin Price Breakout May Hinge on US Debt Fears: Coinshares

Bitcoin’s next breakout could depend on demand driven by concerns about U.S. public finances, Coinshares suggested Thursday in a market analysis. Fund withdrawals and a price retreat have challenged that outlook, despite the monetary appeal of assets outside government control. Concerns about U.S. public finances could attract investment into assets outside government control, according to Coinshares. James Butterfill, head of research at the digital asset investment firm, outlined that conditional outlook in an Oct. 8 market update. His bitcoin breakout argument centers on fiscal sustainability, the government’s ability to meet its long-term financial obligations.

Source: Bitcoin.com News