Jerome Powell

Bitcoin

<a href="https://bitcoinist.com/bitcoin-bottom-20-decline/" rel="nofollow">Crypto expert Michaël van de Poppe</a> has made a bullish case for Bitcoin as he alluded to <a href="https://bitcoinist.com/buy-bitcoin-dip-federal-reserve-turns-dovish/" rel="nofollow">macroeconomic factors</a> that could soon play out in the flagship crypto’s favor. In line with this, he urged Bitcoin investors to take action with a parabolic surge on the horizon.&nbsp; 
<h2 id="an-imminent-quantitative-easing-would-be-good-for-bitcoin">An Imminent Quantitative Easing Would Be Good For Bitcoin</h2> 
Van de Poppe <a href="https://x.com/CryptoMichNL/status/1786085746840936497" rel="nofollow">suggested</a> in an X (formerly Twitter) post that Bitcoin will rise on the back of a Quantitative Easing (QE), which he anticipates is “close.” He noted that <a href="https://bitcoinist.com/us-crypto-industry-major-victory-federal-reserve/" rel="nofollow">the Fed</a> has already started to “unwind Treasury buybacks and is reducing QT [Quantitative Tightening].” He claims this is happening because the <a href="https://bitcoinist.com/bitcoin-inflation-rate-battle-gold-scarcest-asset/" rel="nofollow">economic data</a> has worsened, which puts the US at risk of a recession.&nbsp; 
Therefore, the Fed seeks to avoid this recession by buying back <a href="https://bitcoinist.com/coinbase-bond-bounces-back-on-bitcoin-rally/" rel="nofollow">long-term government bonds</a> and injecting liquidity into the financial system. As the crypto expert predicts, this could be good since it will force the Fed to take a more dovish stance and possibly lower interest rates, boosting <a href="https://bitcoinist.com/investors-206-million-crypto-funds-interest-rate/" rel="nofollow">investors’ confidence</a> to go all in on risk assets like Bitcoin.&nbsp; 
Van de Popper further predicts that this Quantitative Easing will become evident in the data released in the coming months. In line with this, he advised investors to long Bitcoin. It is worth noting that Bitcoin dropped to <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-fell-below-58000/#:~:text=What%20A%20Drop%20Below%20%2458%2C000,for%20the%20flagship%20crypto%20token.">as low as $57,000</a> ahead of the latest FOMC meeting, with many investors seeming to have anticipated a hawkish stance from the Fed.&nbsp; 
However, as the crypto expert <a href="https://x.com/CryptoMichNL/status/1785732339680579786" rel="nofollow">noted</a>, the rates remain unchanged, and Fed Chair Jerome Powell raised the possibility of a rate cut as early as June. Given Bitcoin’s price recovery since then, this development looks to have already revived a bullish sentiment among investors.&nbsp; 
<h2 id="what-to-expect-going-forward">What To Expect Going Forward</h2> 
In another <a href="https://x.com/CryptoMichNL/status/1785746026952851526" rel="nofollow">X post</a>, Van de Popper revealed his expectations for the crypto market going forward. He stated that Bitcoin will consolidate and go sideways (possibly ahead of the QE which will boost its price in the coming months. Meanwhile, he also expects <a href="https://bitcoinist.com/why-bitcoin-halving-could-provide-a-big-boost-to-these-altcoins-growth/" rel="nofollow">Altcoins</a> to “heavily outperform and rotation kicks in.” 
The crypto expert had <a href="https://www.newsbtc.com/news/bitcoin/narrative-post-bitcoin-halving/">previously</a> echoed a similar sentiment when he stated that he expects altcoins to bounce in their Bitcoin pairs while Bitcoin faces a <a href="https://bitcoinist.com/bitcoin-accumulation-strong-amidst-consolidation/" rel="nofollow">period of consolidation</a> that he doesn’t expect to change in the “coming months.”&nbsp; 
Back then, he also mentioned that there would be a narrative shift to <a href="https://bitcoinist.com/ethereum-to-10000-programmed/" rel="nofollow">Ethereum</a>, and he reaffirmed this belief in a more recent <a href="https://x.com/CryptoMichNL/status/1786108397601054894" rel="nofollow">X post</a>, stating that he expects a lot from the second-largest crypto token by market cap.&nbsp;&nbsp; 
At the time of writing, Bitcoin is trading at around $59,100, up over 2% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="nofollow">data</a> from CoinMarketCap.&nbsp; 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/ISq6on6p/" alt="Bitcoin price chart from Tradingview.com" width="3286" height="1530">

Crypto Expert Turns Bullish On Bitcoin, Predicts Quantitative Easing Will Begin Soon

Table of Contents

NewsBTC

Other articles published on May 3, 2024

Tether Partners with Chainalysis to Enhance Compliance Measures

Will Bitcoin Reach This Price Level?

Ex-FTX Chief Ryan Salame Surrenders $5.9M Bahamas Mansion: Impact on Crypto Market & FTX Coin (FTT)

ProBit Global Boosts Global Research Funding with Unify Platform Token (UNIFY) Listing

Get in Early: Bitgert Coin Emerges as the Top Trending Crypto

Is It Too Late To Buy TRB Crypto? Tellor Price Soars 43% And This Might Be The Next Crypto To Exp...

Join our free newsletter for daily crypto updates!