[ad_1]
This broad market selloff casts immediate doubt over the timing of Hoskinson’s optimistic outlook. While long-term bulls may still believe in Bitcoin’s future, current conditions paint a different picture.
Wall Street Warns of Recession, Risk-Off Conditions
Adding to the bearish sentiment, BlackRock and Goldman Sachs have both issued warnings that signal further pressure on markets.
BlackRock downgraded its view on U.S. equities to neutral from overweight, citing global trade tensions as a key reason. Goldman Sachs warned that the equity correction could evolve into a cyclical bear market, estimating a 45% chance of a U.S. recession.
If these outlooks prove correct, risk assets like cryptocurrencies could remain stressed. Historically, recessions and equity selloffs push investors toward safe-haven assets, not volatile digital currencies.
In contrast to Western macro pessimism, Arthur Hayes, co-founder of BitMEX, offered a potential wildcard that could reignite the Bitcoin rally: China.
[ad_2]
