Cryptocurrency expert Michael van de Poppe As he hinted, he made a bullish case for Bitcoin. macroeconomic factors That could soon play out in favor of the flagship cryptocurrency. In line with this, he urged Bitcoin investors to keep in mind that a parabolic rally is just around the corner.
Imminent quantitative easing will be good for Bitcoin
van de poppe was suggested In a post on X (formerly Twitter), he predicts that Bitcoin will rise “soon” due to quantitative easing (QE).he pointed out that FRB It has already “started to ease bond buybacks and reduce QT.” [Quantitative Tightening]”He said this is happening because economic data The economy is getting worse and the US is at risk of recession.
Therefore, the Fed is trying to avoid this recession through buybacks. long-term government bonds and inject liquidity into the financial system. As predicted by crypto experts, this will be a good thing because it will force the Fed to take a dovish stance and possibly lower interest rates, which will boost the economy. Maybe. Investor trust Focus all your efforts on risky assets like Bitcoin.
Van de Popper further predicts that this quantitative easing will be evident in data released in the coming months. In line with this, he advised investors to go long Bitcoin.It is worth noting that Bitcoin has fallen Prices as low as $57,000 Ahead of the latest FOMC meeting, many investors seemed to be expecting a hawkish stance from the Fed.
However, as a cryptocurrency expert I got it., interest rates have remained unchanged, with Fed Chairman Jerome Powell raising the possibility of rate cuts as early as June. Given the recovery in Bitcoin prices since then, this development already appears to have revived bullish sentiment among investors.
What to expect in the future
somewhere else ×post, Mr. Van de Popper revealed his expectations for the future virtual currency market.he said: Bitcoin He expects prices to stabilize and level out (possibly ahead of QE that will push prices higher in the coming months). altcoin “We have significantly outperformed and rotation will begin.”
Cryptocurrency experts Before He echoed a similar sentiment when he said he expects altcoins to rebound on the Bitcoin pair. Bitcoin faces the following problems Consolidated period He doesn't expect that to change in “the next few months,” he said.
At the time, he also stated that a change in the story would occur. EthereumAnd he reaffirmed this belief in a more recent paper. ×postHe said that he has high expectations for the second-largest crypto token by market capitalization.
As of this writing, Bitcoin is trading at around $59,100, up more than 2% in the past 24 hours. data From CoinMarketCap.
BTC bulls reclaim control of price | Source: BTCUSD on Tradingview.com
Featured image by Seu Dinheiro, chart from Tradingview.com
