Bitcoin Dips After Fed Signals No Immediate Rate Cuts, But Bullish Outlook Holds
- Bitcoin mrkt droppd nrly 3% ftr Fdrl Rsrv hintd furthr intrst rt cuts my b unlikly.
- Dspit pric dip, strong stblcoin inflows signl th bull mrkt is likely to continu.
- VnEck prdicts Bitcoin my rch $180,000 by nxt yr, citing rising invstmnt dmnd nd mrkt strngth.
Th Bitcoin mrkt dclind nrly 3% ftr th U.S. Fdrl Rsrv indictd tht furthr intrst rt cuts might b off th tbl. This stnc dmpnd nthusism in both crypto nd finncil mrkts, chllnging xpcttions for policy sing. Th conomy is not signling ny nd to hurry rt cuts, Fdrl Rsrv Chir Jrom Powll mntiond in spch on Novmbr 14 in Dlls, Txs.
Powlls rmrks followd rcnt rt cuts of 50 nd 25 bsis points in Sptmbr nd Novmbr. With th nxt dcision st for Dc. 18, Powll mphsizd tht th currnt strngth of th conomy llows for crful pproch to dcision-mking, stting tht ny futur rt chngs will b bsd on conomic dt nd projctions.
Bitcoin Price Dips, But Optimism Persists
In rspons to Powlls sttmnt, th cryptocurrncy slippd 2.79% to $86,979 but quickly rboundd to $88,239, ccording to CoinMrktCp. CryptoQunt nlyst thKriptolik rmins bullish, citing strong stblcoin inflows s positiv signl for Bitcoins bull mrkt. In Nov. 15 post, thKriptolik notd, Thr is continution of highr-thn-norml influx of stblcoins. This suggsts tht, brring ny dditionl nws, th Bitcoin bull mrkt hs not yt ndd, signling potntil for furthr gins.
Adding to th optimistic sntimnt, VnEck, n invstmnt mngmnt compny, prdicts significnt pric surg. Matthew Sigel, VnEcks hd of digitl ssts rsrch, st n mbitious trgt of $180,000 by nxt yr, indicting Bitcoins bull mrkt my only b bginning.
Investment Demand Boosts Bitcoins Growth
Sigel highlightd th bsnc of tchnicl rsistnc, indicting tht th cryptocurrncy is currntly in blu sky trritory. H furthr mntiond, W think w r likly to mk rptd ll-tim highs ovr th nxt two qurtrs. Notbly, Sigel pointd out n incrsing trnd of clls from invstmnt dvisors iming to ithr stblish or xpnd thir holdings, movmnt h nticipts will strngthn cpitl flows into th mrkt.
VnEck nticipts pttrn similr to Bitcoins post-lction prformnc in 2020, whn prics doubld from lction dy to yr-nd. Our trgt is $180,000. W think w could rch tht nxt yr, h mentioned. Sigel also emphasized tht 1,000% incrs from th cycls lowst point to its pk would still mrk its smllst cycl, rinforcing his positiv outlook.
Rnownd cryptocurrncy nlyst Rkt Cpitl lso contributed to th bullish viw, dscribing rly pric dips during Bitcoins upwrd phs s high-probbility opportunitis. H cutiond, howvr, tht s Bitcoins prbolic rlly progrsss, pullbcks could prsnt grtr risks for dollr-cost-vrging strtgis. Good thing wr so rly in th prbolic upsid phs, Rkt sid, xprssing confidnc in th cryptocurrncys potntil.
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