Bitcoin started the week by falling to $63,000, and the statement by US Federal Reserve Chairman Jerome Powell that additional rate cuts are part of the Fed’s plan did not affect the intraday trend. Despite the correction, Bitcoin price is on track to close Q3 with positive returns.

Powell said in a speech at the National Association for Business Economics in Nashville that the upcoming rate cuts will not be as aggressive as the last 50 basis point cut. If the economy progresses as expected, two more rate cuts are expected in 2024, but they will be by 0.25%.

In light of these developments, Bitcoin investors continue to expect an increase in Q4. The fact that Q3 closed with a 0.6% increase and September increased by 7% is seen as a positive sign. Share your views in the comments!