Economist Timothy Peterson believes that the coming rate cuts, which the Fed already has planned, will rally the market, pump Bitcoin, and kickstart the new alt season.
Peterson’s comments come just one day after the Federal Reserve cut rates by 0.25%, with CME’s FedWatch placing the odds of a favorable decision at 96% several weeks before the FOMC meeting.
The combination between the optimism linked to the coming rate cuts and growing institutional Bitcoin hoarding should pump $BTC to a new ATH by the end of October.
It’s extremely likely that Bitcoin will enter a bullish phase come mid-October, likely followed by a modest contraction before the next pump. That’s a near certainty based on the asset’s recent performance ahead of the FOMC meeting.
And it makes sense.
Cryptocurrencies benefit a lot from Fed’s rate cuts, which decrease the investors confidence in traditional assets like bonds and stocks and turn their gaze to the next big thing: risk-on assets like cryptos. This explains why Bitcoin soared following the Fed’s positive decision.
If the momentum continues, Bitcoin may reach another ATH by October 29 or, at the very least, shortly after.
Bitcoin’s performance is currently capped at 7 transactions per second (TPS), which often results in long processing times, network congestion, and high fees.
While SVM speeds up the execution of smart contracts and DeFi apps, the Canonical Bridge is in charge of minting the users’ tokens into the Hyper layer.
Investors can then either use the wrapped Bitcoin on Hyper’s Layer 2 or withdraw them to the native network at will.
The Bitcoin Relay Program verifies and confirms all transactions near instantly as well, lowering the finality times from minutes and even hours to seconds.
These tools turn Hyper into an ultra-fast, ultra-performance layer, whose sole goal is to bring Bitcoin’s performance to modern standards.
The $HYPER presale has just surpassed $17M recently and it’s growing fast. If you want to invest, $HYPER is available at the presale price of $0.012945, which is almost guaranteed to pump post launch.
This represents an ROI of 11,487% on a 5-year investment.
This isn’t financial advice. Do your own research (DYOR) and manage risks wisely before investing.
