A crypto expert has predicted how high the Bitcoin price can go during this cycle
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Despite these bearish factors, Bitcoin experienced only a negligible price drop. According to CoinGecko data, the cryptocurrency is currently changing hands at $64,815 after recovering from an intraday low of $63,514. is currently consolidating below its current price peak that was achieved in March following the successful launch of various spot ETFs in January. Sooner or later, however, this consolidation phase is set to come to an end.
The Federal Reserve cutting interest rates later this year would be the main bullish catalyst for Bitcoin, according to the crypto expert. Markets are currency betting that there is virtually a 100% chance that the Fed will finally start much-awaited rate cuts in September. Bitcoin peaking at $150,000 during this cycle. Fundstrat's Tom Lee has repeatedly named the same price target, predicting that declining inflation would be one of the key bullish headwinds.
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