Matt Hougan emphasized that several conditions must be met in order for Bitcoin to overcome the $80,000 mark before the end of the fourth quarter. A second interest rate cut by the US Federal Reserve (Fed) and fiscal stimulus from the Chinese government could trigger a rally in the first cryptocurrency next month. At the same time, the first cryptocurrency does not need other assets to thrive, the analyst believes:
“Politicians need to get out of Bitcoin’s way and it doesn’t need Ethereum, Solana or new altcoins to succeed. In fact, it is being harmed by shenanigans in the altcoin space. But if we’re going to get a full-blown rally in the short term—say, up to $100,000 in just a few months—it would be helpful for pro-crypto sentiment to spread through the market.”
According to Hougan, if there are no major bankruptcies and scandals involving famous people by the end of the year, stability in the market will increase, as will investor confidence in cryptocurrencies. There are all prerequisites for continued growth of Bitcoin in 2025, regardless of existing macroeconomic factors and sentiment, the expert said.
Previously, MatrixPort specialists reported that the interest of institutional investors in digital assets and economic uncertainty could lead to the fact that in 2025 the global level of adoption of cryptocurrencies will exceed 8%.
Source: Bits
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