• The cryptocurrency market has stalled its movement over the past few days as investors consider their positions due to the ongoing debt talks in the United States, with the US’s current debt now above $31 trillion.
• With prices now down, this could be an excellent opportunity for investors to purchase cryptocurrencies like Metacade.
• Market experts believe that the US will not default on its loan but will likely print more dollars which will effectively weaken the dollar and strengthen assets such as cryptocurrencies and commodities.
Crypto Market Stalls Due To Debt Ceiling Talks
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.
U.S. Debt Ceiling Currently Above $31 Trillion
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 the US Treasury Fiscal Data website, the US’s current debt stands at $31.46 trillion while it’s debt limit is set at highest amount it can borrow to service its economy.
Is Now A Good Time To Buy Cryptocurrencies?
Due to this situation, prices of most cryptocurrencies declined this week including Bitcoin which is now trading below $27k mark at press time around $26,884 with a total cryptocurrency market cap of $1.13 trillion also down by 1% over last 24 hours period leading some investors question if they should buy cryptocurrencies like Metacade or not?
Experts‘ Views On U.S.’s Debt Ceiling
Some market experts believe that despite its current situation, U.S government won’t default on its loan but will instead opt for printing more dollars which would then weaken dollar’s value and strengthen other assets such as commodities & cryptocurrencies instead making it a good investment opportunity for potential buyers out there considering buying cryptocurencies like Metacade right now .
Conclusion
It remains uncertain what effect U
