Capriole Investments believes that the key factor in Bitcoin’s growth could be the easing of monetary policy by the US Federal Reserve System (FRS).
“If the Fed cuts interest rates, it would mark the beginning of a new dovish policy stance, the first significant change since late 2021. The Fed then announced a hawkish stance, which saw rates rise from 0% to 5.5% in just 18 months,” Capriole Investments said in a report.
According to the company’s experts, the weekly support of Bitcoin at $58,000 indicates a positive trend, and if there are no surprises from the Fed, the Bitcoin rate may reach $64,000 in the short term. Analysts drew attention to a number of seasonal factors, noting that in the fourth quarter, the first cryptocurrency demonstrates significant profitability, and a window for investing in Bitcoin has opened, which is repeated every four years.
Earlier, the co-founder of the software development company WeRate, Quinten Francois, said that in the short term, Bitcoin could surprise the market.
Source: Bits
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