QCP Capital: Bullish on Bitcoin Price Long-Term Despite Potential Short-Term Pullbacks and Volatility

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September 18, 2024
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Mars Finance reports that QCP Capital's latest analysis indicates a highly anticipated monetary policy meeting of the Federal Open Market Committee (FOMC) will be held today (September 19th, early morning Beijing time). Based on Fed funds futures pricing, market participants anticipate a 33% probability of a 25 basis point rate cut and a 66% probability of a 50 basis point rate cut. Among 114 economists surveyed by Bloomberg, 104 predict a 25 basis point rate cut, with only 9 anticipating a 50 basis point reduction. This divergence extends to long-term projections for 2026.

The report highlights multiple uncertainties surrounding the FOMC meeting, including the specific interest rate decision, the dot plot within the latest Summary of Economic Projections (SEP), and Federal Reserve Chair Powell's press conference.

Analysts anticipate significant market volatility in the days following the meeting, potentially signaling the commencement of a new macroeconomic trend. With the potential for an interest rate cut cycle, QCP recommends investors focus on hard assets, particularly Bitcoin. Despite potential short-term corrections and heightened volatility, analysts remain bullish on Bitcoin's long-term price trajectory.

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