{"id":115524,"date":"2019-10-18T17:46:29","date_gmt":"2019-10-18T17:46:29","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=115524"},"modified":"2019-12-07T16:10:00","modified_gmt":"2019-12-07T16:10:00","slug":"billionaire-investor-warns-big-economic-slowdown-how-will-bitcoin-react","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/billionaire-investor-warns-big-economic-slowdown-how-will-bitcoin-react\/","title":{"rendered":"Billionaire investor warns of big economic slowdown; how will Bitcoin react?"},"content":{"rendered":"<p>Ray Dalio, Co-Chairman and Co-Chief Investment Officer at Bridgewater Associates with a net worth of over $18 billion, warns <a href=\"https:\/\/www.cnbc.com\/2019\/10\/17\/ray-dalio-says-the-world-is-in-a-great-sag-and-echoes-the-1930s.html\">stimuli from central banks won\u2019t reverse global economic slowdown<\/a>, which may affect <a href=\"http:\/\/cryptoslate.com\/coins\/bitcoin\">Bitcoin<\/a> in the <a href=\"https:\/\/cryptoslate.com\/bitcoin-has-a-long-road-to-mass-adoption-facebook-data-suggests\/\">medium term<\/a>.<\/p>\n<p>While bitcoin has been described as a safe haven asset by some, researchers like <a href=\"https:\/\/cryptoslate.com\/people\/thomas-lee\/\">Thomas Lee<\/a> at Fundstrat believe BTC has demonstrated qualities of a risk-on asset in recent months and it tends to move in tandem with the equities market.\u00a0Lee on CNBC\u2019s Fast Money said:<\/p>\n<blockquote><p>&#8220;I think the next big catalyst is a decisive breakout in the equity markets. I think once equities break an all-time high, bitcoin becomes a risk-on asset.&#8221;<\/p><\/blockquote>\n<p>If Bitcoin continues to follow the trend of the equities market and if the <a href=\"https:\/\/www.nytimes.com\/2019\/10\/17\/business\/china-economic-growth.html\">slowdown of the global economy<\/a> begins to take a toll on the stock market, some speculate on the possibility of it placing more sell-pressure on BTC.<\/p>\n<h2>Why Bitcoin could be a risk-on asset<\/h2>\n<p>Bitcoin is an alternative store of value and with the emergence of regulated trading venues in the likes of CME\u2019s futures exchange, <a href=\"http:\/\/cryptoslate.com\/companies\/bakkt\">Bakkt<\/a>, and other custodial solutions, it has garnered the interest of institutional and accredited investors.<\/p>\n<p>However, purely based on its market capitalization and volatility, Bitcoin is still considered to be a high-risk asset by most investors and when fears of recession rise, accredited investors could dispose of high-risk assets first.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">According to our recent Twitter poll, 48% of respondents believe that a <a href=\"https:\/\/twitter.com\/hashtag\/recession?src=hash&ref_src=twsrc%5Etfw\">#recession<\/a> is likely soon. See how our <a href=\"https:\/\/twitter.com\/hashtag\/FixedIncome?src=hash&ref_src=twsrc%5Etfw\">#FixedIncome<\/a> strategies strive to offer consistency in inconsistent markets. <a href=\"https:\/\/t.co\/BGR4QCQuZ8\">https:\/\/t.co\/BGR4QCQuZ8<\/a> <a href=\"https:\/\/t.co\/f4DBQabjxK\">pic.twitter.com\/f4DBQabjxK<\/a><\/p>\n<p>&mdash; Wells Fargo AssetMgt (@WFAssetMgmt) <a href=\"https:\/\/twitter.com\/WFAssetMgmt\/status\/1184067649589927936?ref_src=twsrc%5Etfw\">October 15, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Dalio, the global economy has become a \u201cgreat sag\u201d and has entered a period in which loose monetary policies and interest rate cuts will not alleviate enough pressure on the markets.<\/p>\n<blockquote><p>&#8220;This cycle is fading, we are now in the world in what I would call a \u2018great sag,\u2019 he said, noting that like 1930s, disputes between key economies are increasing geopolitical risks in the global market.<\/p><\/blockquote>\n<p>Dalio added:<\/p>\n<blockquote><p>\u201cAlso like the 1930s, we have a rising power challenging an existing world power in the form of China-U.S. challenges.&#8221;<\/p><\/blockquote>\n<p>Currently, both skeptics and optimistic investors generally agree that the accommodative stance of the Federal Reserve and the likelihood of additional interest rate cuts are maintaining the momentum of the U.S. equities market despite the lack of a finalized trade deal between the U.S. and China.<\/p>\n<p>If interest rate cuts begin to have less impact on fueling the growth of the economy, it could lead investors to take on a more aggressive approach in safeguarding their assets <a href=\"https:\/\/www.cnbc.com\/2019\/10\/17\/gold-markets-us-economic-data-in-focus.html\">through traditional safe havens like bonds and gold<\/a>, potentially causing a bitcoin sell-off.<\/p>\n<h2>Not enough data yet<\/h2>\n<p>For now, there is no sufficient data to conclusively determine that bitcoin is a risk-on asset and that investors would <a href=\"https:\/\/cryptoslate.com\/bitcoin-fails-to-recover-as-weekly-volume-on-bitmex-drops-72-in-3-months-traders-bearish\/\">initiate a sell-off<\/a> as recession fears intensify.<\/p>\n<figure id=\"attachment_115544\" aria-describedby=\"caption-attachment-115544\" style=\"width: 1576px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-115544\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/10\/bitcoin-1-year-chart.jpg\" alt=\"Bitcoin price - 1 year\" width=\"1576\" height=\"972\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/10\/bitcoin-1-year-chart.jpg 1576w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/10\/bitcoin-1-year-chart-300x185.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/10\/bitcoin-1-year-chart-768x474.jpg 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/10\/bitcoin-1-year-chart-1024x632.jpg 1024w\" sizes=\"(max-width: 1576px) 100vw, 1576px\" \/><figcaption id=\"caption-attachment-115544\" class=\"wp-caption-text\">The bitcoin price fell by around 50% in late 2018 as fears of recession mounted (source: CryptoSlate \/ CryptoCompare)<\/figcaption><\/figure>\n<p>Bitcoin showed signs of a risk-on asset in late 2018 when the lack of progress in the U.S.-China trade talks led to a near 50% fall in the price of bitcoin.<\/p>\n<p>The sell-off in late 2018 could have been a coincidence and as such, it remains to be seen whether bitcoin would act as a safe haven asset or a risk-on asset in the upcoming months, as the outlook of the global economy declines.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ray Dalio, Co-Chairman and Co-Chief Investment Officer at Bridgewater Associates with a net worth of over $18 billion, warns stimuli from central banks won\u2019t reverse global economic slowdown, which may affect Bitcoin in the medium term. While bitcoin has been described as a safe haven asset by some, researchers like Thomas Lee at Fundstrat believe [&hellip;]<\/p>\n","protected":false},"author":187,"featured_media":115542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,15323],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Billionaire investor warns of big economic slowdown; how will Bitcoin react?<\/title>\n<meta name=\"description\" content=\"Ray Dalio warns stimuli from central banks won\u2019t reverse global economic slowdown, which may affect bitcoin in the medium term.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/billionaire-investor-warns-big-economic-slowdown-how-will-bitcoin-react\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Billionaire investor warns of big economic slowdown; how will Bitcoin react?\" \/>\n<meta property=\"og:description\" content=\"Ray Dalio warns stimuli from central banks won\u2019t reverse global economic slowdown, which may affect bitcoin in the medium term.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/billionaire-investor-warns-big-economic-slowdown-how-will-bitcoin-react\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-18T17:46:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-12-07T16:10:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/10\/bitcoin-slow-social.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Joseph Young\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Joseph Young\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/billionaire-investor-warns-big-economic-slowdown-how-will-bitcoin-react\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/billionaire-investor-warns-big-economic-slowdown-how-will-bitcoin-react\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/joseph-young\/#person\",\"name\":\"Joseph Young\",\"url\":\"https:\/\/cryptoslate.com\/author\/joseph-young\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/joseph-young\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/joseph-young\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/08\/author-joseph-young.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/08\/author-joseph-young.jpg\",\"caption\":\"Joseph Young\"},\"jobTitle\":\"Analyst\",\"description\":\"Joseph Young is a finance and tech journalist. 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