Coinbase Sees More Bitcoin and Altcoin Rallies in Q4 Amid Favorable Macro-Economic Outlook
Top US-based crypto exchange Coinbase believes digital assets are just warming up for big rallies in the months ahead. In a new research report, Coinbase Institutional says the recent change in the macroeconomic backdrop suggests that Bitcoin (BTC) and crypto are primed for a Q4 surge. Coinbase says the Fed and the People’s Bank of China (PBOC) are now pursuing looser monetary policies – conditions that have historically been supportive of higher crypto prices. “Looking ahead, we retain a constructive outlook for 4Q24 mostly predicated on our favorable view of the current macro environment, alongside the idiosyncratic factors listed above. For example, just last week, we argued that one of the most significant implications of the Fed decision to cut 50bps (basis points) is that this provides cover for other monetary authorities to take more stimulative measures. This has been followed by China revealing a massive double fiscal and monetary stimulus p...