In the midst of the good streak that Bitcoin is experiencing, several analyzes of its price emerge that are worth disseminating. Therefore, in this publication we will delve into 5 interesting analyzes by experts in the crypto market. So, if you are interested in knowing about the next direction of Bitcoin, we recommend you read the following analyzes and take note of them.
1- Markus Thielen: first the 70,000 USD and then new all-time highs
Markus Thielen, an analyst who serves as head of research at 10xResearch, believes that the Cryptocurrency market is in the midst of a wave of FOMO resulting from the US Federal Reserve’s previous interest rate cut.
The analyst also believes that stablecoin minting and Chinese OTC brokers are drivers of BTC. So predict a move towards $70,000 and then new all-time highs.
FOMO is Back: Are You Holding Enough Bitcoin and Altcoins to Ride the Next Wave?
👇1-11) Since the Fed’s September rate cut, Bitcoin has gained 5%, while Ethereum has surged 11%, and certain altcoins have seen impressive gains—+54% for ENA, +51% for SEI, and +36% for Shiba Inu… pic.twitter.com/QK6hExh4lk
— 10x Research (@10x_Research) September 27, 2024
“…Further upside appears likely as stablecoin minting accelerates and Chinese OTC brokers report billions in inflows. With Bitcoin surpassing $65,000, we anticipate a quick move towards $70,000, followed by new all-time highs in the near term…”
2- Arthur Hayes: the Federal Reserve will cut its rates to zero
In one of his constant essays, cryptocurrency billionaire Arthur Hayes made big predictions for the price of Bitcoin. Which, according to Hayes, will experience a “super cycle of volatility.”
However, at the same time, he stressed that The US Federal Reserve will continue to cut its interest rates to zero.
An interesting comment that Arthur made in his analysis on September 26 is that short-term predictions are often inaccurate. However, he said that was not the case with his predictions regarding the Federal Reserve’s actions.
3- Qiao Wang: Ockham’s razor (indicates) is that we will be very high
Not only is the United States close to or has begun easing its monetary policies, but the world’s second largest economy is also on its way to easing accompanied by large economic stimuli for its markets.
Analyst Qiao Wang highlights these macroeconomic factors and predicts a solid rebound.
this is the most bullish ive been in months. 2 biggest economies started the easing cycle. chart finally looking good. sentiment is still somewhat in disbelief. occams razor is we’ll be way up a few months from now.
— qw (@QwQiao) September 27, 2024
«This is the most optimistic moment I have been in in months. The two largest economies began the flexibility cycle. The graph finally looks good. The feeling is still somewhat incredulous. Ockham’s razor is that we will be very high in a few months from now.
In other publications, Wang has highlighted how the US government has already taken similar flexibility measures as in 2008 and 2020. He also highlighted the growth of Bitcoin in the last month and denied the narrative that “Bitcoin hates September.”
4- Matthew Hyland: change of trend
It is curious how some analysts interpret Bitcoin’s current fall from all-time highs as a bearish trend. This is the case of Matthew Hyland, a crypto analyst, who explained in a video on September 26 that:
“This is the first time that this trend, which we’ve been on for so long, is starting to change.”
So from your point of view the price has been trading on a bearish line, which is about to change. You can see his video through a post by X.
5- They Kobeissi Letter: the setting is frighteningly familiar
Finally, it is worth mentioning the words of “The Kobeissi Letter”, a crypto trading analysis newsletter, which commented that the current situation of Bitcoin and the economic landscape is “scarily familiar”, and noted that the markets expect another cut of 50 basis points at the next FED meeting in November.
However, one of their most interesting arguments is that the market does not need this additional stimulus. They suggested that these expectations might be excessive.
The observations underscore the growing interconnection between Bitcoin, monetary policy and global market movements, reflecting how the cryptocurrency is increasingly responding to macroeconomic factors similar to those affecting traditional assets.
The next Fed meeting is in November and markets want another 50 basis point cut.
We continue to believe that the Fed did not need a 50 basis point cut in September and does not need another one going forward.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) September 27, 2024
«The next FED meeting is in November and the markets want another cut of 50 basis points. “We continue to believe that the Fed did not need a 50 basis point cut in September and does not need another in the future.”
In conclusion
The outlook for Bitcoin is shaping up to be a mix of cautious optimism and expectation. Key factors that will influence its trajectory include the monetary policies of major global economies, especially interest rate cuts in the United States and economic stimuli in China.
Market sentiment, driven by FOMO and stablecoin minting, will also play a crucial role. Technical analyzes suggest a possible reversal in the bearish trend, while Bitcoin’s increasing correlation with macroeconomic factors indicates its maturation as an asset.
However, it is important to remain cautious, as some experts warn against potentially excessive expectations of additional stimulus. Ultimately, Bitcoin’s volatility and adaptability to global economic conditions will determine its course in the short and medium term.
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