Bitcoiners’ ‘bullish impulse’ on recession may be premature: 10x Research

A longer-term price opportunity for Bitcoin could emerge, but it may face short-term pressure driven by recession fears, says crypto researcher Markus Thielen.

It may be too early for Bitcoiners to start getting bullish over the longer-term impacts of a potential recession on Bitcoin’s price, says 10x Research head of research Markus Thielen.

Thielen said in an April 11 markets report that credit spreads continue to widen, indicating that “recessionary concerns may be seeping deeper into the economy.”

“Expecting a bullish impulse is too early,” he said.

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