• The cryptocurrency market has stalled its movement due to the ongoing debt ceiling talks in the US.
• US’ current debt stands at $31.46 trillion, with the debt limit being the highest amount the government can borrow.
• Market experts believe that if US surpasses its debt ceiling, it will likely print more dollars and weaken the dollar while strengthening assets such as cryptocurrencies and commodities.
Crypto Market Stalls As Investors Weigh Debt Ceiling Talks
The cryptocurrency market has been stalled its movement over the past few days as investors consider their positions while observing the ongoing debt talks in United States. With prices now down, this could be an excellent opportunity for investors to purchase cryptocurrencies like Metacade.
US Debt Above $31 Trillion
According to official data obtained from US Treasury Fiscal Data website, US’s current debt stands at $31.46 trillion with its debt limit being the highest amount of borrowing that can service economy. This has led to a poor performance from crypto market this week as prices of most cryptocurrencies declined significantly. Could this be a perfect opportunity for investors to buy more tokens like Metacade?
Debt Ceiling Talks Impacting Crypto Market
Treasury Secretary Janet Yellen recently stated that United States could surpass its debt ceiling by June 1st leading many investors to become conservative in approach. Bitcoin, world’s largest cryptocurrency by market cap continues trading below $27k at press time while total crypto market cap stands at $1.13 trillion declining by 1% over last 24 hours.
What Are Experts Saying?
Market experts believe that if US surpasses its debt ceiling then it will default on loan but instead print more dollars which would ultimately weaken dollar and strengthen assets such as cryptos and commodities further enhancing their value in markets. Jesse Meyers, chief operating officer of investment firm Onramp believes that this situation is an excellent opportunity for investors to buy more coins and tokens while keeping an eye on government actions regarding handling of increasing national debts efficiently without defaulting on payments or printing more money which would affect inflation rate adversely affecting global economy and stock markets negatively too .
Should You Buy Metacade Now?
With prices currently down due to uncertainty surrounding debt ceiling talks, it could be a great chance for investors to purchase cryptocurrencies like Metacade right now before prices rise again once dust settles around this issue soon in coming days or weeks leading them towards profits upon sale later on when demand increases again after resolution of this issue between government authorities concerned with economic stability across USA and other countries too affected by policies implemented by America’s government regarding economic policies impacting global financial markets positively or negatively depending on decisions taken during negotiations .