Bitcoin And Ethereum Prices To Move Upwards Amidst Fiscal Retrenchment

The hedge fund billionaire Paul Tudor Jones said not too long ago that the price of Bitcoin and Ethereum will be able to move upwards from the current bear market ranges. Check out the latest reports about what he had to say below.

During a new interview that’s been recently released, the founder of Tudor Investment Corporation told to CNBC that he believes the US has probably already entered a recession phase or, if not, it will soon enter one.

Here’s what he had to say:

“I don’t know whether it started now or it started two months ago. We always find out and we are always surprised at when a recession officially starts, but I’m assuming we are going to go into one.”

Jones, made sure to say that he has a small allocation of Bitcoin. He also pointed out to the fact that he sees crypto as faring well over the next decade in an environment of high government spending and fiscal entrenchment.

“Whoever is the President in ’24 is going to be dealing with debt dynamics that are so dire… So dire that we’re going to have to have fiscal retrenchment …”

He continued and explained the following:

“If you think about the teens, which was all about suppressing yields, I think the 20s will be just the opposite. I mean higher term premiums in bond markets, higher term premiums in stock markets. There’ll be just the opposite of what we experienced in the last decade.”

At the moment of writing this article, BTC and ETH are both trading in the green. BTC is currently trading at $19,056.

ETH is currently exchanging hands for $1,278. Stay tuned for more news from the crypto space and make sure to keep your eyes on the market as well.