ChartBuddy is about to post a $43K! I’m impressed with how fast the market recovered. All thanks be to the Fed it seems as they signaled rate cuts are in the near future and analysts are saying that they nailed a soft landing. I think it might be a little early to declare victory on the economy but I’ll take the stock market and Bitcoin gains.
Right now its seems that FED interest rate stance is the biggest reason for Bitcoin fast recovery to 43k. Low interest rates usually make government securities less attractive while they gave strength to alternate investment options aka Bitcoin.
Interest rate is maintained at 5.25 - 5.5 % but it will go down in 2024 to around 4.5 - 4.75%. So we can see more bull run in Bitcoin as halving will join the interest rate cur.