von - The cryptocurrency market has been in a consolidating stage this week, with prices of most cryptocurrencies currently in the red zone.
- Investors have been keenly observing the ongoing debt ceiling talks in the United States, with many of them conservative in their approach.
- Treasury Secretary Janet Yellen recently stated that the United States could surpass its debt ceiling by June 1st.
Crypto Market Stalls Amid Debt Ceiling Talks
The cryptocurrency market has stalled its movement over the past few days as investors consider their positions. Investors are keenly observing the ongoing debt talks, with the United States’ debt now above $31 trillion. With prices now down, this could be an excellent opportunity for investors to purchase cryptocurrencies like Metacade.
Current Crypto Market Status
The cryptocurrency market has been in a consolidating stage this week, with prices of most cryptocurrencies currently in the red zone. Investors have been keenly observing the ongoing debt ceiling talks in the United States, with many of them conservative in their approach. This has led to a poor performance from the crypto market this week. As the prices of most cryptocurrencies declined this week, could this be a perfect opportunity to purchase more coins and tokens like Metacade?
Debt Ceiling Impact on Crypto Markets
Treasury Secretary Janet Yellen recently stated that the United States could surpass its debt ceiling by June 1st. If that happens, market experts believe that the US could default on its debt. According to official data obtained from US Treasury Fiscal Data website, US’s current debt stands at $31.46 trillion. The debt limit is highest amount which US government can borrow to service economy due to ongoing talks crypto market had underperformed this week.
Bitcoin , world’s largest cryptocurrency by market cap continues to trade below 27k . At press time , price of Bitcoin stands at 26884 USD , down by 1% so far today . Total Cryptocurrency Market Cap also stands at 1.13 Trillion USD , down by 1% over last 24 hours .
Will The US Default On Its Loan?
< p >Some market experts believe that US will not default on its loan but will likely print more dollars . This will effectively weaken dollar and strengthen assets like Cryptocurrencies and Commodities . Jesse Meyers , COO of Investment firm ONRAMP believes that if US defaults it would lead to global economic crisis but he also mentioned markets have proven resilient before and so it is unlikely for such situation to occur . < br />
< h2 >Should You Buy Metacade Now ?
< p >With crypto prices going lower day by day , it might be great idea for traders and investors alike who are looking for long term investments opportunities should look into buying some coins and tokens including metacade . As always one should do his own research before investing into any asset class specially highly volatile assets such as cryptocurrencies . < br />
