Tom Lee, chairman of BitMine, famous that the ultimate quarter of the yr may convey vital progress for Bitcoin
$115,212.06
and Ethereum
$4,496.07
.
In an interview with CNBC on September 15, Lee said that elevated liquidity from central banks and seasonal patterns may assist each cryptocurrencies recognize in worth.
He additionally talked about that this potential rise might be among the many most notable funding alternatives over the subsequent few months.
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Lee pointed to the opportunity of the Federal Reserve reducing rates of interest quickly. He mentioned such a call would assist rebuild belief within the markets.
He in contrast the present scenario to occasions in 1998 and 2024, when the Fed paused its fee hikes after which determined to cut back charges. In keeping with Lee, fee cuts can increase confidence and supply more cash stream within the system.
When requested if Bitcoin and Ethereum have been nonetheless seen as high-risk investments, Lee replied that Bitcoin tends to reply to adjustments in financial coverage and out there capital.
He additionally said that Ethereum is affected by these components, however is moreover supported by new traits, resembling synthetic intelligence (AI) and monetary providers transitioning onto blockchain expertise.
Lee described Ethereum as a platform for progress, just like how monetary markets developed after the US greenback was now not tied to gold within the Nineteen Seventies.
On September 11, Galaxy Digital CEO Mike Novogratz shared his ideas about Bitcoin’s current value stability. What did he say? Learn the total story.
