Matrixport: Bitcoin Will Rise to $36,000
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Analysts at Matrixport have predicted that the Federal Reserve’s easing of monetary policy will have a positive effect on the medium-term prospects of Bitcoin.
This sentiment has been buoyed by the fact that BTC’s value rose above $29,000 in the wake of the discount rate hike on May 3.
BTC is seen by many as a safe-haven asset, and the banking crisis in the US has further increased investor interest in alternative instruments such as gold and cryptocurrency.
The injection of large amounts of capital into the economy through stimulating business activity is expected to cause much of that capital to flow into the tech sector, which could result in BTC prices reaching $36,000.
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