Janet Yellen confident in US economy recovery, impacting Bitcoin; short-term growth hindered

From Investing.com

September 8, 2024 12:00:19 PM:

Janet Yellen expresses confidence in US economy’s recovery despite softer job growth data, unemployment at 4.2%. Impact on Bitcoin and alternative assets questioned as economy strengthens. Bitcoin price declining towards $54,573 due to market sentiment affected by inflation and job growth data.

Historically, Bitcoin has thrived in economic turbulence as a store of value. Will this change with stronger economy and market sentiment? Short-term BTC growth may be hindered by investors favoring established markets over alternative assets.

Yellen’s optimistic forecast could slow BTC growth, but potential for return to riskier assets exists amid recent economic data. Bitcoin’s appeal as decentralized asset remains, with potential for comeback if economy falters or inflation rises.

Bitcoin remains attractive to those wary of centralized economic systems despite potential decline in appeal amid improving economy.

Read more at Investing.com: Treasury Secretary Janet Yellen Bets on US Economy Recovery, Will Bitcoin (BTC) Follow? By U.Today