BeInCrypto’s editors discussed the prospects of cryptocurrencies with Ryan Lee, an analyst at the Bitget cryptocurrency exchange. We tell you our interlocutor’s predictions for Bitcoin and Ethereum for July.
How to buy Bitcoin with ruble: main ways
Ryan Lee first emphasized the importance of the macroeconomic environment: the Federal Reserve’s net liquidity index recently exceeded $6.5 trillion, and $400 billion of liquidity has been released to the market since the end of June. This is the highest level in nearly two years. He added that coupled with the expectation of future interest rate cuts, market liquidity will increase, which is conducive to the overall upward trend of the crypto market.
Our interlocutors are convinced that, in addition to the macroeconomic situation, the overall capitalization of the stablecoin market also plays an important role.
Lee said: “The total stablecoin market capitalization increased from $160 billion to $162 billion in June, indicating a net inflow of funds into the cryptocurrency market.”
At the same time, our interlocutors highlighted the potential risks associated with Payment from Mt. Gox “The start of payments in early July could create selling pressure and could cause the stock price to fall,” said Bitcoin».
At the same time, he also saw many prospects for this press conference. Ethereum Spot ETF “This could cause ETH to rise due to direct purchases from traditional funds.”
Based on the results of the analysis, our interlocutor made the following forecast for July 2024: “The price of BTC may fluctuate between $58,000 and $73,000, and ETH – from $3,100 to $4,500.”
Latest Cryptocurrency News, Analysis and Predictions – All our most interesting content Telegram Channel. Subscribe so you don’t miss anything important.
according to I am working on a trust project this article reflects the opinions of the author, which may not agree with those of the BeInCrypto editors. It is BeInCrypto’s policy to report all events impartially and in accordance with the highest standards of journalism. BeInCrypto encourages readers to independently verify information and consult with professionals before making