Bitcoin’s price is down 10% — New bear market or correction?
On this week’s episode of The Market Report, Cointelegraph’s resident expert discusses if the latest price of Bitcoin is a sign of a new bear market starting or just a healthy correction. In today’s Market Report episode, analyst and writer Marcel Pechman covers the potential triggers to move Bitcoin’s price away from $27,000, including the United State Federal Reserve meeting on May 3. The show airs every Tuesday on the Cointelegraph Markets & Research YouTube channel. The first news article discussed the catalysts for Bitcoin’s next move, including whether the Fed will follow the market s’ consensus of a 25-basis-point interest rate increase on May 3. The video analyzes how Bitcoin (BTC) should react to the central bank’s decision and explains how interest rates affect families and businesses. In Pechman’s opinion, the correlation between Bitcoin and the stock market should decline considering the U.S. is nearing its debt limit and the economy is displaying signs of weakness an...