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 in 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” Federal Reserve also plays a part in driving the market for the rest this year reducing rates For the first time in this year.
Lee Compare the current situation with September 1998 or 2024, when the Fed went on an “extended pause” Cut rates this month. “The Fed can actually reinject confidence by saying we’re back into an easing cycle,” He added that there will be a reduction in the interest rate. “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 is the Wall Street of 1971
Lee, when asked whether BTC and Ether are still high-risk assets, said Bitcoin was especially sensitive to the monetary policy, and Ether is also sensitive to its liquidity.
“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 aggressively pursuing this goal. acquiring Ether.
BitMine collects more ETH
The latest issue of the magazine, update On Monday, the company announced that it has $10.77 billion cash. crypto holdings. This includes 2.15 million ETH.
Ether is now worth $9.7 billion, which represents almost 1.8%.
“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 was trading just above $4,500 as of the writing. This is a decrease of 2.7% for the day but an increase in price by almost 5% compared to the previous week.
Magazine: XRP to retest highs? Bitcoin won’t go sideways for long: Hodler’s Digest
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Source: cointelegraph.com
