A popular crypto analyst is predicting good news for Ethereum and other crypto assets after the Federal Reserve cut interest rates this week.
More Rate Cuts Could Boost Crypto
Michaël van de Poppe, who has over 700,000 followers on social media, believes the Fed’s recent rate cut could be a positive catalyst for crypto. He thinks the Fed is likely to cut rates further in the coming months, which would make crypto and Ethereum more attractive to investors.
“The Fed’s decision is bullish for crypto,” said van de Poppe. “They’re not expecting a big jump in unemployment, which is good for the markets. But I think they’re wrong. The economy is going to slow down, and the Fed will have to print more money to keep things going.”
Ethereum and DeFi Could Benefit
Van de Poppe believes that more rate cuts could lead to a surge in interest in Ethereum and decentralized finance (DeFi) projects. He thinks this could lead to more investment in Ethereum-based exchange-traded funds (ETFs) and a rise in the price of Ethereum against Bitcoin.
“With more rate cuts, Ethereum and DeFi become more attractive,” he said. “We could see a lot more money flowing into Ethereum and DeFi, which would mean a higher price for Ethereum compared to Bitcoin.”
Bitcoin and Ethereum Already Showing Signs of Strength
Van de Poppe thinks the bullish trend for Bitcoin, Ethereum, and DeFi has already begun. Bitcoin is currently trading at over $62,000, up nearly 4% in the last two days. Ethereum’s price against Bitcoin is also up, indicating a growing interest in the cryptocurrency.
Disclaimer: This information is for educational purposes only and should not be considered investment advice.
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