It’s been just reported that the crypto markets are getting ready to see new bulls. Check out the latest reports about this below.
New bulls are coming to the crypto space
Alex Krüger, an economist and crypto trader, has expressed optimism towards Bitcoin (BTC) and Ethereum (ETH), foreseeing a strong finish for both cryptocurrencies by the end of the year.
In a recent tweet, Krüger informed his extensive Twitter following of 153,900 that based on his analysis, the Federal Reserve may soon conclude its efforts to increase interest rates to manage inflation and may shift its focus come December.
He believes the markets will anticipate the Fed’s pivot and start rallying as early as August.
“The Fed has delivered 20 x 25bps (basis points) rate hikes in its fastest and most aggressive hiking cycle in history. Which means at least 90% of the Fed hikes are behind (if not all). That to me is all that matters, and makes it easy to stay long. This has been my view all year.”
He continued and said this:
“My base case is a December pivot and a bull market gearing up in early August to front-run this. Why? The economy is cooling, and inflation is falling. The Fed is forced to overshoot (hiking) due to its past errors … which increases odds of it pivoting when data rolls over.”
According to Krüger, even if inflation persists and the Fed doesn’t change its stance in December, he remains optimistic that the markets will close 2023 at a higher level than their current trading value.
“If core inflation remains sticky there will be no pivot in 2023, but with the Fed at least 90% done regardless (and the AI revolution) upside into year end still is a good bet.”
Stay tuned for more news from the crypto space and make sure to check out the markets as well.
