 ▲ Bitcoin (BTC), dollar (USD) |
Cointelegraph, a cryptocurrency media outlet, reported on the 20th (local time) the forecast of financial critic Tedtalksmacro that the U.S. macroeconomic situation will support a rise in the price of Bitcoin (BTC) in the next 10 days.
TedTox Macro presented the results of tracking the correlation between Bitcoin and the U.S. Federal Reserve (Fed) liquidity as the basis for its forecast.
He said he was not at all surprised by the close correlation between the Fed's liquidity and Bitcoin, saying, “In 10 days, the Fed's liquidity will hit bottom. “At this time, Bitcoin will be ready to start an upward trend again,” he argued.
He then revealed Talking Macro, a macroeconomic data that he personally analyzed, showing that the times when Bitcoin hit its highest and lowest points coincided with the Fed's liquidity peak and trough, respectively. Ted Talks' Talking Macro analyzed data from the Federal Reserve's assets, repurchase bond market, and Treasury Department.
Talking Macro focused on the decreasing trend of Bitcoin spot exchange traded fund (ETF) asset inflows and also mentioned the problem of Bitcoin's short-term headwinds. The Bitcoin spot ETF recorded the second-largest asset inflow in history in early June and then shifted to outflow.
However, some institutions, such as British asset management company Farside Investors, recorded asset outflows of more than $700 million over four days, which is lower than the $886 million worth of asset inflows recorded on June 4. paid attention to
Meanwhile, in another article, the media reported the Bernstein analyst team's forecast that Bitcoin's trading price could approach $200,000 by the end of next year. The Bernstein analyst team mentioned the possibility that Bitcoin spot ETF approval from several securities firms and large banking institutions will occur in the third or fourth quarter of this year.
In addition, Bernstein analyzed that Bitcoin has entered a new bullish cycle after the halving in April, and said, “The halving reduces the selling pressure of Bitcoin miners by half and at the same time promotes a new upward trend in Bitcoin demand, leading to the basic price trend.” He explained.
