Bitcoin Price Predicted to Experience Bullish Trend Amid Middle East Conflict and Economic Uncertainty in the US

Analyst from the reku, Fahmi Almuttaqin predicts Bitcoin will experience a bullish trend amid the Middle East conflict and economic uncertainty

Bitcoin prices in September 2024 were recorded to rise 7.3 percent, supported by the cut in the benchmark interest rate by the Fed. However, tensions in the Middle East, strikes at US ports and the impact of Hurricane Helene have fueled concerns about inflation in Uncle Sam's country.

Analyst from the reku application, Fahmi Almuttaqin predicts that Bitcoin will experience a bullish trend amidst the Middle East conflict and economic uncertainty in the United States.

"Even though the Fed has indicated easing monetary policy, the potential increase in inflation due to external factors could prevent further interest rate cuts," said Fahmi.

However, on the other hand, Fahmi is optimistic that if the US presidential election goes smoothly and the Fed decides to lower interest rates in November, then Bitcoin will experience a significant increase.

The reason is, in historical records, after the US election in 2020, the price of Bitcoin was recorded to have increased from 13,000 US dollars to almost 70,000 US dollars (1.08 billion) within one year.

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Therefore, Fahmi urges investors to make careful decisions, while taking advantage of investment features such as Packs which make it easier to purchase blue-chip crypto assets such as Bitcoin and Ethereum.

Investors can make regular savings and monitor market conditions regularly. "Currently, it is also easier for investors to invest in a number of blue chip crypto assets at once in one swipe," said Fahmi.

Fahmi also advised investors to remain careful and carry out independent research before investing. Because in this way, investors can diversify their portfolios with measurable risks.

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Tag: bitcoin technology

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