Thu, September 19, 2024 at 16:48

• 

  Kang-hoon

  • Hello, Annie.

  • Today, I have some interesting news regarding the U.S. Federal Reserve's recent decision to cut interest rates by 50 basis points.

  • This move is expected to boost Bitcoin and other digital asset markets.

  • 
• Annie

  • Oh, really?

  • That sounds significant!😊 Can you tell me more about how this rate cut will impact the digital asset markets?

  
• 

  Kang-hoon

  • Certainly.

  • Jeff Kendrick from Standard Chartered analyzed that this rate cut will act as a macroeconomic factor that will boost digital asset prices, regardless of the outcome of the upcoming U.S. presidential election in November.

• Annie

  • Wow, so the election isn't as important for Bitcoin's price as we might think?🤔

  
• ADward

  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Kang-hoon

  • Exactly.

  • Kendrick emphasized that Bitcoin and other digital assets have been bullish since the Federal Open Market Committee's rate cut the previous day.

  • He noted that macroeconomic factors are having a bigger impact than election-related uncertainty.

• Annie

  • That's interesting.

  • So, what other factors are supporting Bitcoin's price right now?

  
• 

  Kang-hoon

  • Another factor Kendrick mentioned is the potential for increased investment into spot Bitcoin ETFs in the near future.

  • He believes we could see a resurgence of inflows into these ETFs in October.

• Annie

  • Spot Bitcoin ETFs?

  • That sounds promising!🌟

  
• 

  Kang-hoon

  • Yes, it is.

  • However, Kendrick emphasized that this prediction is dependent on continued macroeconomic positivity rather than political outcomes.

• Annie

  • Got it.

  • So, what are his predictions for Bitcoin's price by the end of the year?

  
• 

  Kang-hoon

  • Kendrick reaffirmed his previous prediction that Bitcoin will reach a new all-time high by the end of the year.

  • 

  • He set a price target of $125,000 if Donald Trump wins and $75,000 if Kamala Harris wins.

• Annie

  • Those are some bold predictions!😲 How is Bitcoin performing right now?

  
• 

  Kang-hoon

  • As of this morning in New York City, Bitcoin was trading at $63,466, which is up 6.04% from 24 hours earlier.

  • This indicates a strong bullish trend.

• Annie

  • That's great news for Bitcoin holders!

  • Do you think this trend will continue?

  
• 

  Kang-hoon

  • Yes, I believe so.

  • The increasing number of 'Hodlers' during Bitcoin corrections is a positive sign.

  • It shows confidence in the asset's long-term value.

• Annie

  • So, overall, would you say this news is a positive development for the market?

  
• 

  Kang-hoon

  • Absolutely.

  • The rate cut, potential ETF inflows, and strong market performance all point to a bullish outlook for Bitcoin and other digital assets.

  • This is definitely good news for investors.

• Annie

  • Thank you, Kang-hoon.

  • Your insights are always so helpful!🙏

  
• 

  Kang-hoon

  • You're welcome, Annie.

  • I'm glad I could help.

  • Keep an eye on the market and make informed decisions.

  • Upon comprehensive consideration, this news is perceived as a 😍Bullish.