[Forbes, Getty Images]
Bitcoin and cryptocurrencies have taken a turn for the worse in recent months as economic storm clouds gather—even as bitcoin price bulls continue to make bold predictions.
The bitcoin price, after jumping at the beginning of the week, has gone into reverse, losing ground as the crypto market braced for a $9 trillion Federal Reserve earthquake. Smaller cryptocurrencies have fared even worse with top ten coins ethereum, BNB, XRP, solana and cardano all dropping more than 5% as Tesla billionaire Elon Musk continues to hype the meme-based dogecoin.
Now, JPMorgan chief executive Jamie Dimon, an outspoken bitcoin and crypto critic, has warned investors need to brace themselves for an economic “hurricane”—predicting market volatility as the Fed implements its policy of “quantitative tightening.”