Bitcoin (BTC) still risks “considerable danger” in 2023 as macroeconomic conditions dictate price action.
That is according to economist Lyn Alden, who, in private comments to Cointelegraph, cautioned on Bitcoin staying bullish after its January gains.
Alden: BTC price bottom is a “process”
Optimism is increasing throughout crypto as BTC/USD broadly retains levels, which are 40% higher than at the start of the year.
What the rest of 2023 may hold, however, is still a topic of debate, and Alden suggests that it is naive to assume that the good times will continue unchecked.
The reason, she says, lies with the United States lawmakers and the Federal Reserve.
“I expect the BTC bottom to be a process,” she summarized about the current state of Bitcoin.
“BTC prices are heavily tied to liquidity conditions, and liquidity conditions have been improving since Q4 2022.”
That recovery has effectively removed any trace of the FTX debacle from the chart, with