• Bitcoin (BTC) traders can profit whether its price moves up or down 10% within 55 days.
• Traditional market analysts have started calling for a volatility spike due to the United States government debt discussion.
• Volatility could impact Bitcoin price, but direction unknown.
Introduction
Bitcoin (BTC) traders can profit whether its price moves up or down 10% within 55 days. This article explains how to do that in times of increasing volatility caused by the US government debt discussion.
Volatility Spike
Traditional market analysts have started calling for a volatility spike due to the United States government debt discussion. Signs of stress coming from the banking sector surprised investors after the U.S. Dollar Index (DXY), which measures the U.S. dollar against a basket of foreign currencies, reached its lowest level in 12 months at 101 on May 4th, 2023 according to Markets & Mayhem who posted a chart from Deutsche Bank correlating historical government spending and debt concerns with spikes in stock market volatility.
Government Debt Debacle
U.S Treasury Secretary Janet Yellen has warned that the government may run out of cash by June if Congress fails to raise the debt ceiling, which President Joe Biden called a meeting of congressional leaders on for May 9th, 2023 regarding it’s overspending which is partly due to lower-than-expected income tax receipts typically seen during recession periods..
Impact on Bitcoin Price
Volatility could impact Bitcoin price, but direction unknown as it does not account gains or losses in it’s index calculation just an estimation of potential movement in either direction based off past performance and other indicators such as interest rate changes etc…