Bitcoin While it rose above $38,000 many times in November, it failed to hold this level.
However Bitfinex analysts in their recent report He thinks that there may be more capital inflow to Bitcoin and prices may increase in the short term.
According to The Block, analysts stand behind these positive thoughts. Fedis likely to keep interest rates steady in December, and Fed member Christopher WallerHe said that the latest dove statements were included.
“If the US Federal Reserve leaves interest rates constant at its meeting on December 13, there may be more capital inflow to Bitcoin.
“When the expectations regarding interest rates in December are combined with the recent moderate statements of FED member Christopher Waller, optimism towards Bitcoin and cryptocurrencies is increasing.”
Because Waller said in his statement that he was confident that the current monetary policy was in a good position to slow down the economic tightening and return inflation to 2%, and signaled that there may be interest rate cuts in 2024 if inflation rates continue this way.
In addition to his positive statements, Waller also warned that inflation was still high.
Pointing out that Waller’s warning is also important for the crypto industry. “There is uncertainty about whether the slowdown in inflation will continue. Therefore, while leaving interest rates unchanged may boost Bitcoin and altcoin prices in the short term, the long-term direction will continue to depend on a number of economic factors and the general direction of monetary policy.” said.
Bitfinex analysts recently said that interest rate cuts are priced from May 2024.
*This is not investment advice.
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