Since Bitcoin hit a record high of $73,000 in March this year, it has always lacked upward momentum. Multiple market declines have gradually extinguished investors' enthusiasm, making people doubt whether Bitcoin is expected to usher in a new round. The outbreak?
Against this background, digital asset trading company QCP Capital released a latest report on Telegram yesterday (28th) stating that under the background that the U.S. Federal Reserve (Fed) has loosened its words and is likely to start cutting interest rates in September, the current stock market and crypto All currency market pullbacks will be short-lived:
Ball has been quite dovish in his recent comments, and he has made it clear that now is the time to lower interest rates.
Although there are only three interest rate meetings left this year, the market is currently pricing in four rate cuts in 2024.
We believe that any current pullback in stocks and cryptocurrencies will be short-lived and that we are on the cusp of rising global liquidity that will ultimately push risk assets higher as Powell and the Fed initiate a rate cut cycle.
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