If you have been following the news lately you would have seen that the United States finally agreed to raise the debt ceiling, but will it have any impact on Bitcoin price? The country hit $31.4 trillion in debt this January, and June 1st is the point of no return or the ‘ceiling’. Effectively this has meant they have run out of money, so they would not have been able to make payments to those that own government bonds.
The democrats and republicans were arguing over the conditions for raising this ceiling as the republicans wanted cuts in other sectors while the democrats wanted no stipulations, but thankfully an agreement was eventually brokered. Now how does this affect crypto?
Well, as we know, Bitcoin is the metaphorical lighthouse for the crypto community, its price will normally indicate whether it is a good or bad time to invest in the market.
Bitcoin has been struggling to break the $27k barrier lately having previously struggled to break through the $30k one. The US debt ceiling isn’t fully to blame for this, but it is likely a contributor. However, there could be a silver lining to all this long term. So, let’s look at the possible scenarios for Bitcoin in all of this.
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Could the US defaulting in the future actually be good for Bitcoin?
If the United States hadn’t come up with a solution to raising the debt ceiling before the 1st of June, the country would have defaulted. If this had happened, the government would stop paying bonds, the markets will crash, and there would be a recession. This didn’t happen, but the agreement only kicks the can down the road for a couple of years, so before we know it, this is going to be a topic again, and by then, things could be even worse.
It seems unlikely they will allow this to happen, but American politics has not been this partisan for a long time, so it is difficult to say that for sure, who says it won’t get worse? Crypto is all about building toward a new future, so what would actually happen to the market if the United States defaulted?
Well, the initial effect won’t be good. As mentioned above, the stock market will crash, and this will happen to all risk assets, including crypto. So this is bad, of course, and investors should be keeping an eye on developments to see if they need to pull back some resources.
However, long-term experts are forecasting this could be highly beneficial for Bitcoin and the market. The default would also lead to traditional banks failing, and for many, it could be the final straw. People will look elsewhere for investments, and the first stop will be Bitcoin and the crypto market.
So, it is a strange situation. No one should be rooting for default as it will destroy people’s livelihoods and plunge The United States into a recession. However, there is a silver lining if that does happen. As Baron Rothschild once said, ‘The time to buy is when there’s blood in the streets’. He was referring to property, but in this potential scenario, it will be the crypto market that could be the best place to invest.
Where does this leave investors?
This is, unfortunately, a difficult question, especially for the everyday investor who may not be able to afford to have their fingers in too many pies. Do you prepare for the worst-case scenario and withdraw most of your investments, or do you trust the government will come up with a solution?
Both options have negative consequences as if you take out your investments, you could miss the market bump if the government comes to an agreement, while if you don’t take precautions, you could lose a significant portion of your investments.
There is a solution to this, however, that can see you play both sides and always come out on top. If you are worried about outside market conditions looking at presales and coins that are rock bottom prices offer the best solution.
This way, for presale coins, you don’t have to worry about the coin going live for a while, and you can wait for conditions to clear up while for low-price coins, there is a low-risk, high-reward situation. Two coins that fit that profile perfectly are Wall Street Memes ($WSM) and AiDoge (Ai).
Wall Street Memes – The presale that has the crypto world hooked
When we discuss AiDoge we will discuss how record-breaking their presale was. Well, by the looks of it, those records might not last for long. Wall Street Memes ($WSM) only started their presale a few days ago and already hitting the $2 million raised point. Of course, this isn’t surprising when you look into it a little more.
- Find our Wall Street Memes Price Prediction Here.
The coin comes from famous social media accounts that have over 1 million followers across all platforms. That kind of following can be lethal in the crypto world, especially for a meme coin. Their only experience with the market so far was an NFT launch two years ago, and that sold out in 32 minutes, so clearly, the start of the presale is indicative of what is going to follow.
The timing of the launch is very interesting too. Pepe Coin (PEPE) has caused the meme coin market to be more popular than ever and it is likely the Wall Street Memes creators realized now was the perfect time to launch their coin. An added bonus is Elon Musk has interacted with the account twice in the past, and we all know what he did for DOGE so the future is very bright for $WSM. Learn how to buy WSM here.
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AiDoge- Breaking all sorts of presale records
AiDoge (Ai) is a perfect investment opportunity in these situations because it is a meme coin, which is typically available at rock bottom prices with a high upside, and it is also going through presale. That presale is breaking all kinds of records, too, as the coin is closing in on $11 million raised despite only being a month old.
The excitement likely comes from the pairing of a meme coin with AI technology but also the fact this will be the first meme-to-earn platform. The site is a meme generation platform that uses AI to help its users make the best possible memes, and they can even earn native currency for doing so.
That’s right, weekly and monthly competitions will ensure that the best meme creators are suitably rewarded for their work. This formula will do wonders for the meme coin’s price in the future as the memes will likely go viral all over crypto spaces online. The fact it is still going through presale means despite outward uncertainty investors can be safe in the knowledge their investment will be safe until the CEX listings, when they can reevaluate themselves. Learn how to buy AiDoge now here.
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Conclusion
June 1st could not only be a huge day for the crypto market but for the United States as a whole. At the moment, there are tentative suggestions an agreement will be passed to raise the debt ceiling, but we cannot know for certain. One thing for sure is investing in coins like Wall Street Memes, and AiDoge will give investors peace of mind that they are building towards the future and they should be safe from any scenario.
