The following is an analysis and response regarding views on the cryptocurrency space:
About whether the cryptocurrency space is doomed
Currently, it cannot be simply determined that the cryptocurrency space is 'doomed.' Although there are fluctuations in the prices of cryptocurrencies like Bitcoin, and there have been recent dips, there are still opportunities from a long-term and multi-faceted perspective. For instance, institutional interest in cryptocurrencies remains, with companies like MicroStrategy continuing to purchase Bitcoin. Additionally, institutions such as Standard Chartered and Bernstein predict that Bitcoin's price could rise to $200,000 by the end of 2025. Moreover, some countries and regions are showing a gradually friendlier attitude towards cryptocurrencies, such as certain states in the U.S. mentioning Bitcoin reserves, which brings positive signals for the development of the cryptocurrency space.
About the Federal Reserve's interest rate cuts
There is uncertainty regarding expectations for the Federal Reserve to cut interest rates. The CME Group's 'FedWatch' indicates that traders believe the Federal Reserve will cut rates twice this year. Goldman Sachs predicts that the Federal Reserve will make two cuts of 25 basis points each in June and December of this year. However, some institutions, like Deutsche Bank, believe that rate cuts are impossible this year. Thanos Papasavvas, founder and chief investment officer of ABP Invest, expects that the U.S. economy and Trump’s policies will push inflation expectations higher, forcing the Federal Reserve to start raising rates in September.
About Bitcoin's bottom
From the perspectives of professionals and institutions, there are various predictions regarding Bitcoin's bottom. Arthur Hayes, co-founder of the cryptocurrency derivatives exchange BitMEX, believes that in the worst-case scenario, Bitcoin could return to the previous cycle's all-time high of $70,000. Gracy Chen, managing director of the cryptocurrency trading platform Bitget, states that Bitcoin's price range could be between $72,000 and $80,000.
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