šµ The Fed's rate decision may cause bitcoin to rise to $170000
This was stated by market analyst Christian Cifoa.
š His analysis is based on parallels between the current market scenario and past Fed rate cuts. In July 2019, there was a rapid rise in BTC after the first rate cut - the asset went from $7400 to $14000 in a matter of weeks.
š¹š° Expert believes that the upcoming rate cut could have very different implications. He outlined 2 potential scenarios: the initial rate cut may cause euphoria, pushing BTC to $90,000-100,000.Then, given the impact of spot exchange-traded funds, BTC could fall into the $120,000 to $170,000 range and its market capitalization rise to $1.4 trillion.
