Tom Lee, chairman of BitMine, famous that the ultimate quarter of the 12 months might convey important progress for Bitcoin
$117,134.71
and Ethereum
$4,515.21
.
In an interview with CNBC on September 15, Lee said that elevated liquidity from central banks and seasonal patterns might assist each cryptocurrencies admire 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 potential for the Federal Reserve reducing rates of interest quickly. He stated such a call would assist rebuild belief within the markets.
He in contrast the present state of affairs to occasions in 1998 and 2024, when the Fed paused its fee hikes after which determined to scale back charges. In response to Lee, fee cuts can increase confidence and supply more cash movement within the system.
When requested if Bitcoin and Ethereum had been nonetheless seen as high-risk investments, Lee replied that Bitcoin tends to answer modifications in financial coverage and accessible capital.
He additionally said that Ethereum is affected by these elements, however is moreover supported by new developments, corresponding to synthetic intelligence (AI) and monetary companies transitioning onto blockchain expertise.
Lee described Ethereum as a platform for progress, just like how monetary markets advanced after the US greenback was now not tied to gold within the Seventies.
On September 11, Galaxy Digital CEO Mike Novogratz shared his ideas about Bitcoin’s current worth stability. What did he say? Learn the complete story.
