Bitcoin Price Forecast: Potential Surge to $65K or Dip to $53K, Say Experts
CryptoNewsTerminal Staff16 Sep, 2024
Bitcoin Price Forecast: Potential Surge to $65K or Dip to $53K, Say Experts
Bitcoin's price could potentially surge to as high as $65,000 following the recent interest rate cut, according to digital asset manager Zerocap. However, the cryptocurrency could also fall as low as $53,000. Zerocap's chief investment officer, Jonathan de Wet, explained that predicting Bitcoin's price action remains difficult due to near-term uncertainty surrounding the impact of the rate cut. He added that nerves ahead of the United States presidential election in November are also heightening this uncertainty. In terms of support and resistance levels, de Wet sees Bitcoin having support around $53,000. A break of the descending wedge could open the door to a surge towards $65,000. The Fed dot plot suggests the start of a rate-cutting cycle, which could lead to risk assets rallying into year-end. It's important to note that these are just predictions, and the actual price of Bitcoin could vary significantly. Investors should always do their own research before making any investment decisions.
