Summary
- Ryan Lee, Chief Analyst at Bitget, stated that Bitcoin could reach up to $160,000 within the year.
- Recent easing of Middle East tensions and expectations for interest rate cuts have contributed to a recovery in investors' appetite for risk assets.
- Powell, Chairman of the Fed, mentioning the possibility of a benchmark rate cut was also noted as a positive factor for the market.
Amid eased Middle East tensions and expectations of interest rate cuts, there are claims that Bitcoin (BTC) could reach $160,000 within the year.
On the 25th (local time), Ryan Lee, Chief Analyst at Bitget, shared in an interview with CoinDesk, "Bitcoin could reach up to $115,000 in the third quarter and as much as $160,000 by the end of the year," adding, "Investor sentiment towards risk assets is recovering." For Ethereum (ETH), he predicted $2,800 in the short term and $5,500 in the long term.
The media outlet stated, "The recovery in risk appetite is due to the easing of Middle East tensions," and "U.S. stock futures, the Nasdaq 100 index, and Asian stocks all continued their upward rallies." It added, "Jerome Powell, Chairman of the Fed, also hinted at the possibility of interest rate cuts, which had an impact."
Previously, Powell had indicated during the semiannual monetary policy hearing that there is ample room to lower the benchmark interest rate.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
