Key Points
- A significant bull market is expected in October 2024, according to Bitcoin’s historical monthly prices.
- The Fed will most likely cut US interest rates in September.
According to the latest reports coming from FMT Investment Advisory, a fiduciary asset manager for the “new economy”, we can expected a huge bull market this fall.
In a post on X from July 31, the team at FMT Investment Advisory noted that Bitcoin shows moves like clockwork on the liquidity cycle. According to data from BitcoinStrategyPlatform, BTC’s price shows similar moves post the 2024 halving compared to the ones in previous halvings.
According to historical Bitcoin monthly prices, the crypto market can expect the debut of a significant bull run this October.
According to history, following cooler summer months, Bitcoin kicks off impressive bullish moves in October, data from 2013-2023 shows, as revealed via the X post.
FMT Investment Advisory also shared that the Fed is 100% going to cut rates in September, 48 days from now.
Federal Reserve Expected to Cut US Interest Rates in September
On July 31, the Federal Reserve said that it could start lowering interest rates as soon as September, as noted by Financial Times.
Fed Chair Jay Powell, said during a press conference that a reduction in the policy rate could be on the table as soon as the next meeting which is set to take place next month.
He also added that there had been a real discussion at the FOMC meeting this week about the subject of cutting rates.
Also, the FOMC flagged further progress towards lowering inflation to its 2% goal. However, it maintained that officials would need even more confidence before they are willing to cut.
Yesterday, Bitcoin dropped below the $65,000 level following the US Fed’s decision to keep rates unchanged for now.
At the moment of writing this article, BTC is trading above $64,000, after reaching prices close to $70,000 following The Bitcoin Conference during the past weekend which showed massive support for BTC and crypto.
