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📰 Market analyst Christian Cioffi believes a potential Federal Reserve rate cut could push Bitcoin above $150,000.
He compares the current scenario to past Fed rate cuts, noting Bitcoin’s rapid rise from $7,400 to $14,000 following the July 2019 cut. However, the trend reversed until the pandemic-induced economic collapse.
In 2024, Cioffi expects a rate cut in September, possibly July or late 2024, with different outcomes.
He sees two scenarios: the rate cut might drive Bitcoin to $90,000-$100,000. Unlike 2019, Bitcoin’s transformation into a more stable investment, aided by spot ETFs and Wall Street participation, could push its value to $120,000-$170,000 and market cap to $1.4 trillion. 🤔 1 reply
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