Bitcoin ETF Before End of Year? w/ Dr. Jeff Ross
The headline CPI is expected to rise in August, indicating that disinflation has likely ended. Core CPI continues to fall due to lower energy prices, but overall inflation appears to be stabilizing between 2.5-4.5%. Higher oil prices are fueling inflation, presenting challenges for the Fed to control. Markets have rebounded recently, but the economy still looks prone to recession either later this year or in 2024.
Commercial bank deposits declining as companies move capital into higher yielding money market funds. This puts pressure on regional banks in particular. Bankruptcies are rising which could exacerbate job losses. The current environment appears stagflationary, with tech stocks faring decently. Liquidity remains flat and there are no signs of significant new liquidity entering markets in the near-term.
ETF spot Bitcoin and Ethereum applications continue to mount, with approval timelines by late October. However, with potential recession on the horizon, timing of approvals may not align with market conditions to spur a sustained rally. Other key Bitcoin catalysts per Michael Saylor: inevitable ETF approval, banks using Bitcoin as loan collateral given new Fed rules, and updated accounting rules.
Longer-term post-recession, conditions appear favorable for a bull run in crypto assets. However, usability as a medium of exchange still faces challenges like tax treatment and accessibility. PayPal expanding crypto off-ramps are a step in the right direction but adoption by major traditional banks still needed.
Guest: Dr. Jeff Ross - MD, MBA Founder - Managing Director Vailshire Vailshire Capital website ➜ https://bit.ly/JeffRossVailshire
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