Crypto Analyst Predicts Bitcoin Will Be Bullish Amid Economic Storm

Photo: Illustration of crypto assets (photo: Unsplash)

JAKARTA - In September 2024, the price of Bitcoin rose 7.3 percent, driven by a cut in interest rates by the Fed. However, tensions in the Middle East, the US port strike, and the impact of the Helene storm raised fears of inflation in the US.

Analyst from the reku, Fahmi Almuttaqin predicts Bitcoin will experience a bullish trend amid the Middle East conflict and economic uncertainty in the United States.

"Although the Fed has signaled an easing of monetary policy, the potential increase in inflation due to external factors could hinder further interest rates," said Fahmi.

But on the other hand, Fahmi is optimistic that if the US presidential election runs smoothly and the Fed decides to lower interest rates in November, Bitcoin will experience a significant increase.

History shows that after the US elections in 2020, the price of Bitcoin increased from $13,000 to nearly US$70,000 (1.08 billion) within one year.

For this reason, Fahmi urges investors to make decisions carefully, as well as take advantage of investment features such as Packs that allow the purchase of blue-chip crypto assets such as Bitcoin and Ethereum more easily.

Investors can do regular savings and monitor market conditions regularly. Currently, investors are also easier to invest in a number of crypto blue chip assets at once with one swipe, "said Fahmi.

Fahmi also advises investors to remain careful and do independent research before investing. Because that way, investors can diversify their portfolios with measurable risks.