Picture courtesy of PCMag
Merkle Capital is forecasting a surge in Bitcoin prices and a flurry of cryptocurrency investments this month, thanks to the global trend of dropping interest rates.
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Merkle Capital is forecasting a surge in Bitcoin prices and a flurry of cryptocurrency investments this month, thanks to the global trend of dropping interest rates.
Investment wizard Woramet Chansen from Merkle Capital spilled the beans, noting that Bitcoin’s price rocketed over 25% in September. This came hot on the heels of the US Federal Reserve’s first rate cut in four years, slicing 0.50 percentage points off the interest rates, said Woramet.
“That was a pivotal moment in the market cycle. It encouraged investors to take more risks and opened the door for long-term digital asset investments.”
While Bitcoin has dazzled by reaching new record highs, other cryptocurrencies haven’t quite hit the same peaks. Yet, Woramet is bullish on the potential for Bitcoin and pals, particularly Ethereum, to make significant gains this month, spurred on by…