Analyst: The Fed’s dovish stance may boost the crypto market rebound
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On March 19, Markus Thielen, CEO of 10x Research, stated that despite investor concerns, Bitcoin may have the potential to rebound to over $90,000 as concerns about US inflation have eased.
He added: "Due to oversold prices, we can see some counter-trend rebounds, and the Fed is likely to take a moderately dovish stance, which are some adjustments by policymakers. This will keep BTC in a broader consolidation range, but it is very likely to return to $90,000."
Nexo analyst Iliya Kalchev said traders and investors will focus on any news about the end of the Federal Reserve's quantitative tightening (QT) program, which could increase liquidity, as the Fed's upcoming decision could be the main catalyst for further momentum. If Chairman Powell takes a dovish stance, BTC may soar in a new bullish trend.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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