According to Fundstrat Co-Founder and BitMine Chairman Tom Lee, Bitcoin and Ether will see a massive rally during the fourth quarter of this year due to the easing of monetary policies in the United States.
Bitcoin will be driven by monetary liquidity and central bank easing. Seasonality is also a strong factor.BTCEtherETH) prices, said Lee appeared on CNBC Monday.
“I think they could make a monster move in the next three months … huge.”
These could be among the possibilities. “stand-out trades” The Federal Reserve is also a major driver of the economy for the remainder of the year reducing rates For the first time in this year.
Lee Comparing the Fed’s current state to that of September 1998, and the Fed in 2024. “extended pause” Cut rates this month. “The Fed can actually reinject confidence by saying we’re back into an easing cycle,” He said that the rate will be cut. “real improvement in liquidity.”
On Wednesday, the US Central Bank is expected to reduce rates by 25 Basis Points. predict A slim 4% possibility of an even larger cut (50 basis points)
Ethereum trading is like Wall Street in 1971
Lee, when asked whether BTC and Ether are still high-risk assets, said Bitcoin is especially sensitive to the monetary policy, and Ether too has its own elements.
“But it’s also part of this AI moving onto the blockchain and Wall Street moving onto the blockchain and that whole stablecoin ChatGPT moment for crypto,” He said, before adding:
“So Ethereum, I think, almost trades like 1971 Wall Street when the dollar went off the gold standard and there was a lot of innovation … Ethereum essentially is a growth protocol.”
Related: Ethereum is the ‘biggest macro trade’ for next 10-15 years: Fundstrat
Lee concluded by saying that BitMine is aggressive because it has a high level of security. acquiring Ether.
BitMine accumulates a greater amount of ETH
The latest issue of the magazine, update On Monday, the company announced that it has $10.77 billion cash. crypto holdingsIncluding 2.15 millions ETH
Ether now represents $9.7 Billion, almost 1.8% of total supply.
“The convergence of both Wall Street moving onto the blockchain and AI and agentic-AI creating a token economy is creating a supercycle for Ethereum,” Lee, said
ETH price was just under $4,500 when this article was written, down by 2.7% from the previous day. However, it is up nearly 5% compared with the same period last week.
Magazine: XRP to retest highs? Bitcoin won’t go sideways for long: Hodler’s Digest
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Source: cointelegraph.com
