However, Thielen notes that this decline hasn’t eliminated the long-term bullish outlook, predicting that $BTC could reach $90,000 by the end of the year.
US Debt Burden Could Be an Opportunity for Bitcoin!
The analyst cited developments in the US Treasury market as one of the main reasons for expecting a rise in $BTC. According to Thielen, weakening investor confidence in the traditional bond market could support capital flows into alternative assets such as Bitcoin and gold.
The analyst also noted that the Federal Reserve could adopt a more cautious monetary policy stance in early December, signaling the possibility of another rate hike, after which market-friendly conditions could emerge and support a year-end rally.
On the other hand, Thielen added that Bitcoin is likely to achieve stronger gains than Ethereum.
*This is not investment advice.
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