Analyst Predicts Energized Crypto Market After Fed's Decision: Says Bitcoin, Ethereum, And DeFi Set To Rally Amid Anticipation Of Further Rate Cuts: 'The Bull Market Has Started'
Portfolio Pulse from Benzinga Neuro
Michaël van de Poppe, a cryptocurrency analyst, predicts a bull market for Bitcoin, Ethereum, and DeFi following the Federal Reserve's decision to cut interest rates by 50 basis points. He anticipates further rate cuts, which he views as bullish for cryptocurrencies. Bitcoin and Ethereum have seen price increases following the announcement.
September 19, 2024 | 10:07 am
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Bitcoin's price surged past $61,000 following the Federal Reserve's 50 basis point rate cut, with further rate cuts anticipated. Analyst Michaël van de Poppe is bullish on Bitcoin, predicting a continued bull market.
The Federal Reserve's rate cut is seen as a positive catalyst for Bitcoin, with further cuts expected. This aligns with van de Poppe's bullish outlook, leading to a price increase.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 80
POSITIVE IMPACT
Ethereum's price rose to $2,357 following the Federal Reserve's rate cut. Analyst Michaël van de Poppe is bullish on Ethereum, expecting a continued bull market.
The rate cut by the Federal Reserve is viewed as a positive development for Ethereum, supporting van de Poppe's bullish stance and contributing to the price increase.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 80