What The FOMC Meeting Means For Bitcoin's Next Move
Portfolio Pulse from Khyathi Dalal
Cryptocurrency analyst Benjamin Cowen discussed the impact of the FOMC meeting on Bitcoin, predicting an increase in Bitcoin's market dominance to 60% potentially by the end of summer or September. He compared the current market cycle to 2019, expecting a brief altcoin rally before a final capitulation. Cowen also highlighted the role of persistent inflation and the Federal Reserve's monetary policy on the crypto market, suggesting altcoins will decline against Bitcoin over time and advising investors to prepare for volatility.
May 02, 2024 | 2:59 pm
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Benjamin Cowen predicts Bitcoin's market dominance to increase to 60%, potentially by end of summer or September, despite the Fed's interest rate decisions and quantitative tightening policies.
Cowen's analysis suggests that Bitcoin's market dominance is likely to increase due to the Federal Reserve's monetary policies and the current economic environment. This prediction is based on historical parallels and the expected impact of persistent inflation and the Fed's interest rate decisions on the cryptocurrency market. The analysis implies a bullish outlook for Bitcoin in terms of market dominance, potentially leading to an increase in its price or market share relative to altcoins.
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