Fed’s 10th Rate Hike Setting Bitcoin up for Strong Rally?
We’ve got Bitcoin close to $30K and the air is ripe this morning with the smell of an incoming rally just waiting to happen
‘A New Market Regime’—The Fed May Have Just Triggered A $100 Billion Bitcoin Price Boom As Ethereum Surges Back
“‘While the Fed has raised interest rates by another 25 basis points, the probability that this was the last hike for this cycle is high, which could set up the market for another strong rally,’ Markus Thielen, head of research at crypto-services provider Matrixport, wrote in an emailed note.
Thielen predicts the bitcoin price could now add 20% before mid-June, potentially making one bitcoin worth $35,000 and adding $100 billion to the bitcoin market capitalization.
‘At the same time, we continuously see bank failure, which requires liquidity injections and guarantees from the government for any acquiring party,’ Thielen added, referring to the ongoing regional U.S. bank crisis that’s now hit PacWest after pushing First Republic over the edge this week.”