Zerocap: Bitcoin price trend is difficult to predict after the Fed’s interest rate decision, may fall to $53,000 or rise to $65,000

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ODAILY
09-17
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Odaily Odaily News Australian crypto trading company Zerocap said that Bitcoin is "difficult to predict" and may fall to $53,000 or rise to $65,000 after the Federal Reserve decides on interest rates on September 18. Jonathan de Wet, chief investment officer of Zerocap, said that the market now expects the Federal Reserve to cut interest rates by at least 50 basis points (0.5%) with a probability of 62%, which has contributed to Bitcoin's brief rebound to $60,000 on September 13. However, Wet said that due to lingering uncertainty about the impact of rate cuts in the short term, price movements are "difficult to predict", and the instability of the upcoming US election in November will only complicate the situation further. "After the recent range lows, we see BTC's downside target of $53,000, and after breaking through the descending wedge, the upside target is $65,000." He added: "It is difficult to predict the direction until the election is approaching, but the risk situation should lead to short-term positive sentiment." (Cointelegraph)

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