Crypto Expert Turns Bullish On Bitcoin, Predicts Quantitative Easing Will Begin Soon
03 Maggio 2024 - 11:00PM
NEWSBTC
Crypto expert Michaël van de Poppe has made a bullish case for
Bitcoin as he alluded to macroeconomic factors that could soon play
out in the flagship crypto’s favor. In line with this, he urged
Bitcoin investors to take action with a parabolic surge on the
horizon. An Imminent Quantitative Easing Would Be Good For
Bitcoin Van de Poppe suggested in an X (formerly Twitter) post that
Bitcoin will rise on the back of a Quantitative Easing (QE), which
he anticipates is “close.” He noted that the Fed has already
started to “unwind Treasury buybacks and is reducing QT
[Quantitative Tightening].” He claims this is happening because the
economic data has worsened, which puts the US at risk of a
recession. Related Reading: Dogecoin Breaks Out Of Descending
Triangle Like It Did In 2021, Analyst Sets $6 Target Therefore, the
Fed seeks to avoid this recession by buying back long-term
government bonds and injecting liquidity into the financial system.
As the crypto expert predicts, this could be good since it will
force the Fed to take a more dovish stance and possibly lower
interest rates, boosting investors’ confidence to go all in on risk
assets like Bitcoin. Van de Popper further predicts that this
Quantitative Easing will become evident in the data released in the
coming months. In line with this, he advised investors to long
Bitcoin. It is worth noting that Bitcoin dropped to as low as
$57,000 ahead of the latest FOMC meeting, with many investors
seeming to have anticipated a hawkish stance from the Fed.
However, as the crypto expert noted, the rates remain unchanged,
and Fed Chair Jerome Powell raised the possibility of a rate cut as
early as June. Given Bitcoin’s price recovery since then, this
development looks to have already revived a bullish sentiment among
investors. What To Expect Going Forward In another X post,
Van de Popper revealed his expectations for the crypto market going
forward. He stated that Bitcoin will consolidate and go sideways
(possibly ahead of the QE which will boost its price in the coming
months. Meanwhile, he also expects Altcoins to “heavily outperform
and rotation kicks in.” Related Reading: Crypto Prediction Website
Reveals When The Cardano Price Will Reach $45 The crypto expert had
previously echoed a similar sentiment when he stated that he
expects altcoins to bounce in their Bitcoin pairs while Bitcoin
faces a period of consolidation that he doesn’t expect to change in
the “coming months.” Back then, he also mentioned that there
would be a narrative shift to Ethereum, and he reaffirmed this
belief in a more recent X post, stating that he expects a lot from
the second-largest crypto token by market cap. At the
time of writing, Bitcoin is trading at around $59,100, up over 2%
in the last 24 hours, according to data from CoinMarketCap.
BTC bulls reclaim control of price | Source: BTCUSD on
Tradingview.com Featured image from Seu Dinheiro, chart from
Tradingview.com
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