Reported 2 months ago
Bitcoin experienced a significant surge, reaching over $62,000 after a sharp decline below $50,000 due to recession fears. This rebound was supported by positive U.S. unemployment data, with only 233,000 claims last week. Despite Goldman Sachs raising recession predictions for 2025, analysts suggest the market reacted too strongly. Crypto entrepreneur Arthur Hayes forecasts Bitcoin could potentially soar to $1 million in this market cycle, citing a transformative phase in global monetary systems.
Source: YAHOO