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Three macro factors, according to Stifel, could push Bitcoin’s price down to $10,000.

Stifel’s Chief Equity Strategist and Managing Director Barry Bannister believe that by 2023  bitcoin could lead to a plunge in price to $10,000.

When discussing bitcoin’s price with Business Insider, Bannister said that a tightening of Federal Reserve policy and reducing the balance sheet would negatively impact bitcoin’s value.

The price is closely tied with the global money supply regarding bitcoin. Therefore, the strategist identified this first essential macro factor and cited that since the S&P 500 moved into the US dollar as its power base, any given Supply/Demand situation will affect BTC value.

Featured image from Pixabay, chart from TradingView.com Read More

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