If certain conditions arise, macro analyst Lyn Alden Bitcoin (BTC) He stated that the price may increase in value with a big rally in the coming months.
The macro analyst, who participated in an interview on the Coin Stories channel, answered the question about whether Bitcoin can reach its all-time high again this year. The analyst thinks the price of Bitcoin could rise if the Federal Reserve reverses current hawkish monetary policy measures such as raising interest rates and tightening monetary policy.
Alden also answered the question about how Bitcoin will perform in the short term, and he thinks the price is still likely to drop lower. However, he also underlined that the best crypto asset by market cap is currently trading at affordable price levels for long-term holders.
Alden also noted that the Bitcoin price has historically performed poorly as the economic environment slows.
“Historically, which is not a large enough sample because we’re talking about a 13-year-old asset, Bitcoin doesn’t perform very well in economic slowdown environments.
And ‘Okay, will this pattern continue this time or is it because there is higher inflation?’ I actually had questions like: For the first time in Bitcoin history inflationist We are going through a downward cycle. Personally, I didn’t think things would go very well in a market with these new variables.”
Bitcoin was trading at $ 29,733 at the time of the news, you can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.