Bitcoin, Ethereum Prices Could Rally Thanks To Central Bank Liquidity Injections, Says Macro Analyst
Portfolio Pulse from Ivan Crnogatić
Bitcoin and Ethereum prices could rally due to central bank liquidity injections, according to macro analysts Preston Pysh and Luke Gromen. They discussed how these measures, although not labeled as quantitative easing, have similar effects, potentially weakening the dollar and boosting economic growth. This environment could be favorable for cryptocurrencies.
May 29, 2024 | 3:11 pm
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Bitcoin prices could rally due to central bank liquidity injections, which are expected to weaken the dollar and boost economic growth.
The liquidity injections, although not labeled as QE, have similar effects, potentially weakening the dollar and boosting economic growth. This environment is favorable for Bitcoin as investors seek returns in less inflation-sensitive investments.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Ethereum prices could benefit from central bank liquidity injections, which are expected to weaken the dollar and boost economic growth.
Similar to Bitcoin, Ethereum is likely to benefit from the liquidity injections and a weakening dollar, as investors look for alternative assets with better returns.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100