Bitcoin Analyst Is Long On King Crypto As Fed Moves To Unwind Treasury Buybacks: 'QE Is CLose'
Portfolio Pulse from Benzinga Neuro
Bitcoin analyst Michael van de Poppe expresses a bullish outlook on Bitcoin as the Federal Reserve begins unwinding Treasury buybacks, a move he interprets as a response to worsening economic data and increased recession risks. He advises long-term investments in Bitcoin, anticipating quantitative easing. The cryptocurrency market is experiencing significant fluctuations, with Bitcoin trading at $59,009, a slight decline but up 33.59% since the year's start.
May 03, 2024 | 1:45 am
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Michael van de Poppe's bullish stance on Bitcoin, in light of the Federal Reserve's policy changes, suggests a positive outlook for Bitcoin's value. He anticipates that the unwinding of Treasury buybacks and potential quantitative easing could drive long-term investment in Bitcoin.
Van de Poppe's analysis connects the Federal Reserve's unwinding of Treasury buybacks and the potential for quantitative easing with a bullish outlook for Bitcoin. This suggests that as the Fed adjusts its monetary policy in response to economic downturn risks, Bitcoin could benefit from increased investor interest, especially if quantitative easing is implemented to stimulate economic growth.
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