Study: Bitcoin price could reach $64K 'soon' after Fed rate cutCapriole Investments predicts that Bitcoin will resume its strongest bull market performance due to a perfect storm of macroeconomic changes and standard cycle timing.
With the Fed lowering interest rates, the $59,906 bitcoin should recover to $64,000 "very soon."
In its latest monthly update on September 17, Capriole Investments, a quantitative bitcoin and digital asset fund, said that bitcoin's price action is at a critical crossroads.
Capriole founder also 'wouldn't be surprised' by Bitcoin's $64,000 price
Charles Edwards, founder of Capriole Investments, said Bitcoin will gain exponentially from the macroeconomic shift going into the fourth quarter, itself the market's best quarter.
While it has barely moved in the past month, Bitcoin/USD is now poised to resume its classic bull run if the Fed cuts interest rates at its September 18 meeting.
"This marks the beginning of the Fed's new dovish policy regime, the first major change since late 2021, when the Fed notified their hawkish policy shift and raised interest rates from 0% to 5.5% in just 18 months," the report said.
According to data from Cointelegraph Markets Pro and TradingView, barring any "bearish surprises" from the Fed, BTC/USD has $64,000 in sight and retains weekly support.
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