According to market analysts, as inflation continues in the US Bitcoin (BTC) It is increasingly seen as an attractive option for portfolio diversification.
Jag Kooner, Head of Derivatives at Bitfinex, suggests that Bitcoin, along with gold and silver, could potentially increase their status as safe-haven assets amid various macroeconomic challenges expected in 2024.
“Persistent inflation levels that remain above the comfort zones of central banks globally are expected to result in higher interest rates for an extended period of time,” Kooner said. He added that this scenario could soften current market expectations for early easing of monetary policies in developed markets, leading to potential disappointment among investors.
In an e-mail, Kooner outlined some of the negativities that could hinder the growth of the markets next year. “The outlook for equity markets in 2024 looks more challenging. “Factors such as modest earnings growth and various geopolitical risks are expected to put downward pressure on equity markets,” he added.
Kooner’s forecast for 2024 is only a year of modest growth. He projects modest earnings growth for the S&P 500 in the 2% to 3% range and a target of 4,200 with a downward bias for the index.
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!