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On October 25th, local time, the second round of ceasefire talks between Pakistan and Afghanistan began in Istanbul, Turkey. The talks were hosted by Turkey and held at an Istanbul hotel. The Pakistani delegation included the militarys director of operations and security and intelligence officials. The Afghan delegation was led by Deputy Interior Minister Rahmatullah Najeeb.On October 25th, Belgorod Oblast Governor Ilya Gladkov announced that Ukrainian armed forces had damaged the Belgorod Reservoir Dam. He stated that Ukrainian forces might attempt to attack and destroy the dam again. If this were to happen, several streets in riverbanks and settlements near Kharkiv Oblast would be flooded, impacting the lives of approximately 1,000 residents. Gladkov stated that local authorities have advised residents at risk of flooding to move to temporary relocation sites. The Ukrainian side has not yet responded to this request.On October 25th, Bank of France Governor François Villeroy de Villeroy warned lawmakers debating the 2026 budget that the deficit must not exceed 4.8% of economic output to ensure France can cope with its growing debt burden. The French National Assembly is currently debating a draft budget that targets 4.7% GDP growth, but Prime Minister Jean-Claude Le Cornu has said the ultimate target should be within 5%, and he is seeking a compromise with opposition lawmakers. "It is absolutely necessary to keep the deficit below 3% between now and 2029, which would imply a maximum deficit of 4.8% next year," Villeroy de Villeroy said in an interview with La Croix. He also stated that France faces the risk of "progressive suffocation" from debt and that additional deficit spending will fail to stimulate economic growth. According to calculations by the Bank of France, if debt uncertainty is reduced, a 1% reduction in the household savings rate would boost economic growth by 0.4%. However, Villeroy de Villeroy stated that the French economy has strong momentum this year and growth will be "at least" as strong as the Banks forecast of 0.7%.On October 25th, the U.S. federal government shutdown entered its 24th day. More and more federal employees forced to take unpaid leave are facing the dilemma of not being able to pay their bills or mortgages, and many are forced to queue up at food banks for assistance. Jacobs, president of the local CDC union, stated that both parties are using the livelihoods of federal employees as bargaining chips in political negotiations, and that the current chaotic situation is unprecedented.On October 25, Lizhong Group responded to investors on an interactive platform, saying that the second phase of the companys project to produce 3.6 million ultra-lightweight aluminum alloy wheels annually in Mexico, with an output of 1.8 million wheels, has now been put into initial production. The company is actively promoting the running-in of the production line and the release of production capacity, striving to achieve the goal of full production and sales as soon as possible.

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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