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July 19th - According to the Wall Street Journal, the U.S. labor market remains robust according to most key indicators. However, nearly two million Americans have been unable to find work for at least six months. Data from the U.S. Department of Labor shows that in June, the number of long-term unemployed (unemployed for 27 consecutive weeks or more) accounted for 27.3% of the total unemployed, up 4 percentage points from a year ago. This proportion is close to its highest level since the end of 2021. Because the overall unemployment rate remains low, the size of the long-term unemployed population is not yet sufficient to cause a substantial shock to the economy. However, analysts say its ripple effects are accumulating. Preston Mooy, senior economist at Employ America, said, "We havent seen large-scale layoffs in the past few years, so the number of short-term unemployed has remained relatively stable. But at the same time, hiring activity has seen a fairly significant decline." Even if some long-term unemployed people find new jobs, the weak hiring environment means more people are constantly joining the long-term unemployed group, keeping this number consistently high.Ukrainian President Zelensky: Decisions regarding the military will continue to be made through consultation.Ukrainian President Zelensky: I spoke today with Alexander Sylsky, Commander-in-Chief of the Armed Forces of Ukraine.July 19th - According to CNN, the US military announced that two US troops stationed in Jordan were killed in action yesterday, and another is missing. This news is bound to further fuel anger among those in the US who oppose the war. In the first phase of the US-Iran war, 13 US military personnel have already died. Subsequently, a pilot died in a plane crash, bringing the death toll to 14. The latest casualties will bring the total number of US military deaths to 16, or even 17. This is clearly an extremely difficult moment for Trump. The American public generally does not support the war, and these casualties are likely to further erode public support for the war.According to Israels Channel 13, the United States is preparing to expand its operations against Iran by sending approximately 100 refueling aircraft to the Middle East. Israeli defense agencies are preparing for a potential major escalation in the region.

Bitcoin More Likely to Crash to $10K Than Hit $30K: Market Survey

Jimmy Khan

Jul 11, 2022 14:57

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Bloomberg's most recent Markets Live (MLIV Pulse) weekly poll measures investor mood. According to information published on July 11, the study questioned 950 investors last week about their predictions for whether Bitcoin will rise again or continue to fall.


The findings were unambiguous: 60% of respondents believed that the asset was more likely to continue to decline and hit $10,000 than to rise to $30,000.


The source said that "the lopsided projection highlights how gloomy investors have grown."


Even if a small sample of investors cannot be used to draw firm conclusions, it does provide a glimpse of investor sentiment, which is still overwhelmingly negative.


Only 40% of people predicted that Bitcoin would surpass $30,000 before it reached $10,000. The asset lost ground over the weekend after sliding near support at $20,000 during the Asian trading session on Monday morning.

Fear among Retail Investors

The research also noted that individual investors were more wary than institutional investors. Nearly 25% of those polled said digital assets were "trash," yet a comparable percentage believed they represented the future of banking.


Nearly a third of institutional investors said they were cautious but maintained an open mind, and 26% said they were confidence in the asset class despite the state of the markets.


Jared Madfes, a partner at venture capital company Tribe Capital, told the publication that there wasn't simply anxiety in the cryptocurrency markets. He said, "It's really simple to be frightened right now, not just in crypto but generally in the globe," before claiming that the poll findings and forecasts of more losses reflect "people's natural dread in the market."


On Monday morning, the "fear and greed" index for the mood toward bitcoin indicated a level of "severe fear" or 22 out of 100. This condition has existed for more than a month.


Since reaching a record of over $69,000 in November, bitcoin values have fallen by almost 70%. However, the asset has been consolidating for almost three weeks at the present price levels, where things seem to have steadied.

Future Price of Bitcoin

At the time of writing, BTC was down 4.1 percent over the previous 24 hours and was trading at $20,564. On Saturday, it rose to a weekend high of $21,871, but it has been unable to hold onto those gains.


Should the asset fail to hold the $20K mark, which seems probable at the time, there is support slightly over $19,000. If past bear markets are any indication, this one might see prices drop by more than 82 percent, verifying the forecasts of the study and returning to the $12K level.


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