Bitcoin, cryptocurrencies, as most other growth technologies is undervalued short-term, now that the Federal Reserve has pivoted towards lower interest rates.
Lower interest rates will make taking out margin loans easier, the capital of which will mostly flow into risky investments like crypto.
In addition, lower rates make venture capital investing more attractive. Venture capital funds, when they attract more money will invest, as usual in risky projects, Bitcoin based businesses including.
Bitcoin's price could reach and surpass 71 000 USD in 2024, according to Wolfteam Ltd.'s corporate view.
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