Roundtable Interview – My Interview with Rob Nelson from The Street

https://www.thestreet.com/crypto/markets/bitcoins-future-hinges-on-the-feds-next-move

I was interviewed by Rob Nelson from Roundtable on Tuesday ahead of the Fed meeting to discuss my outlook for Bitcoin. I mentioned that it was likely a call on whether or not the Fed would be hawkish (which I expected) or dovish at the meeting yesterday. More hawkish posture means headwind for Bitcoin. 

Bitcoin‘s price trajectory might soon take a dramatic turn based on the Federal Reserve’s upcoming decisions, according to experts. In a recent discussion, Roundtable anchor Rob Nelson, The Alethea Narrative founder Craig Shapiro, and Bitcoin Consulting’s Erik Muro weighed in on bitcoin’s resilience and its potential responses to macroeconomic indicators. Their insights shed light on how institutional factors might shape bitcoin’s future.

Nelson opened the discussion with a bold statement: “I don’t think bitcoin [will fall] below 50,000 ever again.” Nelson’s confidence stemmed from the increased institutional adoption and the rising influence of ETFs (exchange-traded funds) in the crypto market. He acknowledged the potential for bitcoin to drop to 50,000, but said he was unconvinced it would plunge below that number.

Shapiro provided a macroeconomic perspective. “I look at bitcoin as a macro asset amidst all the other assets that are out there,” he explained. Shapiro highlighted bitcoin’s role as a play on liquidity and central bank malfeasance, emphasizing its unique position in the financial landscape. With an important Fed meeting and inflation report on the horizon, Shapiro believes these macro drivers will significantly impact bitcoin’s price.

Shapiro said that stronger-than-expected inflation would likely push the Fed into a more hawkish stance. This scenario, he suggested, would be a headwind for bitcoin, as it would strengthen the dollar and drive short-term yields higher. Conversely, a dovish Fed could propel bitcoin to new highs, breaking out of its current range.