Coinbase Predicts Major Crypto Gains in the Coming Months

Coinbase, a leading US cryptocurrency exchange, believes digital assets are poised for significant appreciation in the coming months.

According to a recent report by Coinbase Institutional, the current macroeconomic landscape signals that Bitcoin (BTC) and other cryptocurrencies could see sharp growth in the fourth quarter of 2024.

The report highlights that both the Federal Reserve (Fed) and the People’s Bank of China (PBOC) are adopting looser monetary policies that have historically favored higher cryptocurrency prices. Coinbase pointed to the Fed’s recent decision to cut interest rates by 50 basis points as an important event.

The move, the report argues, encourages other central banks to implement more stimulative measures. Shortly thereafter, China unveiled a significant fiscal and monetary stimulus package, including record interest rate cuts and other measures aimed at stimulating lending and easing credit burdens.

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Despite signs of a softening labor market, Coinbase noted that the U.S. economy remains strong, with second-quarter GDP exceeding expectations by 3%. This reduces the risk of a recession in the near term.

Alexander Stefanov