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MARKETS DAILY: Crypto Update | Bitcoin Trading Sideways Is the 'Best Thing' for Long-Term Holders: eToro US Analyst
Aug 1, 2024
Bret Kenwell, an Investment and Options Analyst at eToro US, shares his insights on current Bitcoin trends. He discusses the potential for an interest rate cut and its implications for the crypto space. Kenwell explains why Bitcoin's sideways trading could benefit long-term holders, and he explores the effects of Federal Reserve decisions on market liquidity. The conversation also touches on the debate between cryptocurrency ETFs and direct ownership, along with optimism surrounding Bitcoin amid evolving political landscapes.
14:14
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Quick takeaways
- Bret Kenwell discusses how a potential interest rate cut by the Federal Reserve could positively influence liquidity for cryptocurrencies.
- Bitcoin's current sideways trading pattern is seen as advantageous for long-term holders, potentially leading to more significant price movements in the future.
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