Bitcoin Bull Market Ahead? Experts weigh in on price cuts.

The Federal Reserve has left the door open for further interest rate cuts, and China has issued its own rate cut. Bitcoin experts are bullish on the future, but there are some uncertainties.

The next few weeks will be critical for Bitcoin's growth.

It has decreased globally

Federal Reserve officials are open to further rate cuts. There doesn't seem to be much political opposition to the first round of cuts, leaving the door open for more. Minneapolis Federal Reserve President Neil Kashkari said:

“After the 50 basis-point cut, I believe the overall stance of monetary policy remains tight. I was comfortable taking a big first step, and as we move forward, I expect we'll probably take smaller steps at scale.

The United States is not the only major global player. Take the same steps. On Monday, China implemented the rate cut, along with several other measures such as the central bank injecting more than $10 billion in liquidity. In other words, the The recession is not local due to the US rate cuts, and the market conditions could worsen.

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Impact on Bitcoin

For some, this is a worrying prospect. For example, Wall Street strategist Ed Yardeny was very bullish. In the interview, he warned about the “direct volatility” in the stock market, which means that there is a small but not negligible chance of economic collapse.

He predicted a roughly 80% chance of a bull market and a 20% chance of a bear market. Bitcoin's own experts are generally more bullish, but some minor reservations remain.

“Let the good times roll,” said Arthur Hayes at the X-Post, as bitcoin prices surged over the weekend. This contradicts his earlier suspicions that Bitcoin may not generate profits from savings. A number of other experts have expressed similar sentiments in exclusive interviews with BeInCrypto, albeit with a few caveats.

For example, Harsh Agarwal, head of investment at Cipher Capital, said, “If Bitcoin reaches $68,000, it will generate a profit of $145 billion.” Several factors of cruelty are fixed, he says, but that's no guarantee of success. Mithril Thakore, CEO and co-founder of Velar further elaborated on these dynamics:

“The Fed's interest rate cut on September 18 seems to have shaken the crypto market out of its shock and given BTC the much-needed impetus to consider retesting previous highs. Before getting there, however, $64,000 has proven to be a key resistance zone and it remains to be seen whether BTC can convincingly break through this barrier, Thakore said.

In other words, there are plenty of bullish signs, but that doesn't mean the bull market is perfect. The most critical time for Bitcoin is in the next few weeks, especially now that China has made its own cuts. Jonathan Hargreaves, Global Business Development and ESG at Elstos, told BeinCrypto that this market is unique and may not be consistent with previous cycles.

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“Importantly, the broader economy will be more closely aligned with these developments, particularly in the US, India, and China with interest reductions and critical regulatory decisions related to crypto governance. Choices such as aggressive interest rate cuts, tax policy and market access in China will have a significant impact on the peak and duration of this bull run,” Hargreaves told BinCrypto.