Bitcoin, the largest cryptocurrency asset could see a significant rise in the coming months as Mike Novogratz, the Chief Executive Officer (CEO) of Galaxy Digital foresees BTC to benefit substantially from the anticipated Federal Reserve cut rates this year.
Fed Cut Rate, A Great Set Up For Bitcoin
The Federal Reserve has been indicating since December last year that it plans to lower its benchmark interest rate this year by the amount of three-quarter points, from the current range of 5.25 to 5.5%.
However, policymakers adopted language the following month indicating that they would maintain the policy rate in the current aforementioned range until they have “greater confidence” that inflation will reach the Fed’s target of 2%.
In 2024, the markets are pricing in two quarter-point rate cuts by the Fed and a 50% chance of a third, which is a significant reversal from the beginning of the year when six to seven cuts were anticipated.
Over the past several months, expe
We współpracy z: https://bitcoinist.com/federal-reserve-rate-cut-will-benefit-bitcoin/
