A Key Catalyst For Crypto Market Recovery Adding to the complexity of the current market landscape are upcoming interest rate decisions that could significantly affect Bitcoin’s short-term volatility and long-term trajectory, as Bitcoinist reported on Monday. Per the report, a potential 25 basis point cut by the Federal Reserve may signal the beginning of an easing cycle, potentially increasing liquidity and promoting long-term price appreciation for Bitcoin.
Bitfinex’s recent report warns that a rate cut could lead to a 15-20% decline in Bitcoin’s price, with projections suggesting a bottoming out between $40,000 and $50,000. Related Reading: Crypto Analyst Predicts XRP Surge To $18 In Third Elliott Wave Phase Despite the potential for short-term volatility, a notable bullish development could support Davis’s optimistic outlook.
August proved to be one of the toughest months for the crypto market, marked by a significant decline in overall market capitalization, which fell to a six-month low of $1.96 trillion amid what analysts called “Black Monday.” This downturn saw Bitcoin (BTC) plummet from $68,000 to approximately $49,000, igniting concerns among bullish investors.
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