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Home News Crypto

Bullish Bitcoin: Why Market Experts Predict a Major BTC Comeback

by Team Lumida
July 9, 2024
in Crypto
Reading Time: 3 mins read
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Photo by Coinhako on Unsplash

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Key Takeaways:

  1. Germany’s BTC sales and Mt. Gox reimbursements caused a 17% BTC drop.
  2. G-7 economic expansion and tech optimism signal potential BTC recovery.
  3. Fed’s potential rate cuts could boost Bitcoin demand.

What Happened?

Germany’s Bitcoin sales and Mt. Gox reimbursements triggered a 17% drop in Bitcoin (BTC) to $57,200 over four weeks. This downturn also affected meme coins and digital assets tied to AI. Despite these short-term supply overhangs, macroeconomic factors suggest a bullish outlook for BTC. The G-7 economies are in an expansion phase, with OECD’s composite leading indicator crossing above 100, indicating above-trend growth.

Additionally, the U.S. CPI report is expected to show a 3.1% annual increase, down from May’s 3.3%, possibly paving the way for the Fed to cut rates, which could catalyze demand for risk assets like Bitcoin.

Why It Matters?

Understanding these dynamics is crucial for your investment thesis. Bitcoin’s recent decline may seem alarming, but the broader economic landscape offers a promising outlook. The G-7’s expansion phase historically encourages investment in growth-sensitive assets like BTC. The anticipated slowdown in inflation strengthens the case for the Fed to reduce interest rates, which would likely boost Bitcoin. Tech optimism on Wall Street, evidenced by record highs in the NDX-to-SPX ratio, also supports Bitcoin’s potential for a strong recovery.

What’s Next?

Investors should watch for the drying up of Bitcoin supply from Germany and Mt. Gox reimbursements. As these overhangs dissipate, BTC could stage an impressive recovery. Keep an eye on the U.S. CPI report and the Fed’s interest rate decisions, as these will significantly impact Bitcoin’s demand. Additionally, the continued tech optimism on Wall Street and the stable performance of alternative assets like gold provide a supportive environment for Bitcoin’s resurgence. Stay updated on these macro trends and investor behaviors to capitalize on the potential Bitcoin rally.

Source: Coindesk
Tags: BitcoinCPIFederal ReserveG-7 economies
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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

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Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
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