Bitcoin could quickly reach $64,000 if the U.S. Federal Reserve lowers interest rates, according to the latest monthly report from Capriole Investments on September 17.
Bitcoin growth potential
Capriole Investments founder Charles Edwards believes that Bitcoin could significantly benefit from macroeconomic changes in the fourth quarter. Currently, BTC/USD is poised for growth if the Fed cuts rates at their scheduled meeting on September 18.
Onchain supply data
The report dismisses concerns over shifting Bitcoin supply trends, arguing that new phenomena like U.S. spot Bitcoin ETFs have skewed the perception of onchain metrics. Edwards believes that the current capital redistribution and supply adjustment do not indicate significant long-term holder selling.
Seasonal trends and future forecasts
Edwards also points out that the fourth quarter is traditionally the best for Bitcoin, supported by its historical performance. Combined with the expected easing of Fed policy, this could create favorable conditions for Bitcoin’s price growth.
According to the Capriole Investments report, Bitcoin is on the brink of significant growth, especially if the Fed changes its policy. The fourth quarter and the traditional post-halving period could provide Bitcoin with favorable conditions for price appreciation.
Comments