This is when Bitcoin and Crypto will see a big break, says Abra CEO



The crypto market has now entered the recovery phase, with the majority of cryptocurrencies returning to their key price levels. However, the market has yet to see its bull run.

On the other hand, Abra, a crypto wealth management CEO, has a bullish approach to the crypto market.

In an interview with Thinking Crypto, CEO, Bill Barhydt talks about the Purchasing Managers Index (PMI) which suggests that the US has entered or is about to enter a recession.

The Purchasing Managers Index (PMI) is nothing but an economic indicator that points to the well-being of the manufacturing and service sectors.

According to Barhydt’s prediction, the United States has been in a recession for almost a quarter and a half and claims that the recent price hike we have witnessed has had a deliberate effect on lowering the rate of inflation.

Also, he claims that right now we are in a recession because most of the indicators used to understand the recession are not giving a proper signal to the general public. Therefore, he says that the current increase in unrealistic rates should stop and be patient and wait for the next move in the market.

According to the CEO, the Big Break will be seen in October, and the 1st half of 2023 will be a great time for Bitcoin and other crypto.

In order to prove his point, Barhydt claims that these risky assets will have a positive moment as there will be an increase in the money supply with the Fed controlling the rise in interest rates.

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