Experts Predict Bitcoin Likely to Surge to New All-Time High of $100,000, Here Are the Details!
In the current scenario, Bitcoin price is fluctuating as central banks hint at interest rate cuts. The crypto community has been asking whether these cuts can push Bitcoin to new highs?
At this time, experts have made bold predictions about Central Bank interest rate cuts and Bitcoin ETFs that could push BTC price to $100,000.
How Will Fed Rate Cuts and Bitcoin ETFs Affect BTC Price?
The cryptocurrency market is closely watching the upcoming Federal Reserve meeting. With expectations split between a 25 and 50 basis point rate cut, the uncertainty has dragged Bitcoin back to around $58,000 after hitting recent highs above $60,000.
More specifically, investor interest in Bitcoin ETFs has increased unexpectedly, witnessing a recent $250 million inflow in a single day, the highest level in over a month.
Recent price action suggests that Bitcoin could move higher if it holds key support levels. One prominent analyst noted:
Bitcoin broke $58,000, then it dropped to retest that $58,000 level and it is still holding. This is a good sign for a new bull run if BTC holds this level for a while longer, the price will increase more strongly.
This is considered a pivotal moment for Bitcoin and cryptocurrencies, as interest rate cuts are typically beneficial for risk assets in the long term.
But the possibility of a 50 basis point rate cut combined with economic factors makes their future uncertain. US Senator Elizabeth Warren said this makes it harder for Americans to pay rent.
