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Bitcoin and Cryptocurrency Market Set for a Big Bull Run
Michaël van de Poppe, a well-known crypto trader, predicts a significant bull run in the cryptocurrency market. This comes just before the Federal Reserve’s announcement on interest rates. He shared his thoughts on X, saying, “Tomorrow is the big FED day, and I think we’re facing the biggest bull run ever.” He also released a YouTube video discussing whether altcoins have hit their lowest point.
While Bitcoin (BTC/USD) remains under $60,000, altcoins are performing well against it. This raises questions about whether the altcoin market has truly bottomed out. Van de Poppe noted that market sentiment is improving, despite recent fears. The crypto fear and greed index fell to 22 last week but has since rebounded to between 30 and 40.
Recent economic data, including updates on the labor market and CPI figures, suggest the Fed may lower rates. If this happens, it could boost Bitcoin’s price even more. Van de Poppe analyzed various altcoin/Bitcoin pairs, indicating that some altcoins are showing signs of a bottom and potential for a rally. He recommends focusing on innovative altcoins within the Ethereum (ETH/USD) ecosystem.
The anticipation surrounding the Fed’s rate decision has already caused notable movements in the cryptocurrency market. Jim Bianco from Bianco Research emphasized the importance of understanding the “neutral” funds rate. He warned that if the Fed cuts rates too aggressively, it could lead to inflation in 2025. Current data shows a 53% chance of a 50 basis point decrease and a 44% chance of a 25 basis point cut.
Additionally, former President Donald Trump has entered the crypto space by launching World Liberty Financial, a new decentralized finance platform.
As of now, Bitcoin is priced at $60,123.70, down 0.15% in the last 24 hours but up 35.89% year-to-date. Meanwhile, Ether is trading at $2,357.76, down 0.84% in the previous 24 hours but showing a slight year-to-date gain of 0.19%, according to Benzinga Pro.
Michaël van de Poppe predicts a massive Bitcoin surge, suggesting the price could rise by 890%.
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