Bitcoin, the leading cryptocurrency in the market, has been experiencing a period of consolidation, where its price has been range-bound and showing limited volatility.
Traders and investors eagerly anticipate the breakout from this consolidation phase, as it could potentially signal a significant price surge.
In this Bitcoin price prediction, we will explore the factors and indicators that can help unlock the timing of the consolidation breakout and provide insights into the potential price movement of Bitcoin.
Get ready to delve into the exciting world of Bitcoin price prediction and uncover the key to unlocking its next big move.
President Biden Unveils Budget Proposal: Additional $1 Trillion in Spending Cuts
In addition to the previously proposed deficit reductions of nearly $3 trillion, achieved through a combination of expenditure cuts and increased revenue, President Biden announced in a news conference that his latest budget proposal would further reduce spending by over a trillion dollars.
He clarified his stance: “I will not agree to a deal that protects wealthy tax evaders and cryptocurrency traders at the expense of food assistance for nearly 1 million Americans.”
The President’s $6.9 trillion budget proposal emphasizes the importance of modernizing regulations, particularly for digital assets.
He has called for applying wash sale rules to digital assets and regulating related party transactions, aiming to subject crypto assets to the same oversight as more traditional investments.
The comments made by Biden may have contributed to the decline in Bitcoin prices on Monday. According to Kiyosaki, Bitcoin and Gold remain the best protection against fraud and incompetence.
Despite politicians insisting on a smooth landing, experts are raising concerns about the ongoing discussions on the US debt ceiling potentially leading to a significant global financial disaster.
Robert Kiyosaki, however, disagrees with this assertion and advises investors to safeguard themselves by investing in gold, silver, and bitcoin.
The disagreement between Republicans and Democrats on whether the US should raise the debt ceiling persists, raising concerns about the possibility of the US defaulting on its debt for the first time.
Even if an agreement is reached, the damage to the world’s largest economy may already have been done.
Source : cryptonews.com