Growing fears of a recession in the United States led the Fed to hold off on further interest rate hikes. The Fed, which did not raise interest rates at its last meeting, is expected to lower interest rates by mid-2024.
According to FedWatch, the CME’s most followed tool, in this sense, investors expect a more “accommodative” policy from the Fed in the next period. According to the rates here, the institution will keep the interest rates stable at around 100 percent in its next meeting and will not increase them.
Analysts speaking to The Block, one of the US media, said that they expect money to flow into both Bitcoin and stocks in 2024.
“Growth will come in 2024”
Ruslan Lienkha, market manager at YouHodler, said he expects serious growth in Bitcoin from the end of 2024:
“In the US, the Fed will intervene and implement an easy monetary policy to prevent a recession. This means that there will be a serious influx of money into the risky assets market. However, risk assets will remain under pressure until the second half of 2024. “If there is a soft landing, it will be positive for prices going forward.”
Butterfill: We saw growth between 2019-2021
James Butterfill, research manager at CoinShares, also said that the Fed’s easy monetary policy increased between 2019 and 2021, while similarly restrictive policy decreased over the past 2 years.
Bitfinex Analyst: Could Give Crypto a Serious Boost
Analysts at cryptocurrency exchange Bitfinex also spoke positively about 2024. Analysts claiming that the Fed’s monetary policy changes will drive money into risky assets said the following in a statement to The Block:
“Changes in Fed policy will also attract investors to the market. “This situation could seriously escalate risk assets, including cryptocurrencies.”
Bitfinex analysts also said that the metrics followed here are the groups of investors who hold Bitcoin for long and short term.
As it is known, the Bitcoin supply, which has not increased for a long time, has approached 70 percent of the total supply…
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