The crypto expert predicted a correction in the bitcoin price in April
The co-founder of Matrixport believes that the current state of the bitcoin market requires caution. He predicted a correction of 15% after a "difficult" March.
By the end of April 2024, a correction of about 15% is possible in the bitcoin market due to March, which is difficult from the point of view of macroeconomic factors. This was stated by the co-founder of Matrixport, Daniel Yan.
"Market sentiment has reached a level where, in my opinion, caution is needed," the expert stressed.
Yang identified two main factors that can influence the bitcoin exchange rate — the Fed's decision on the interest rate and the issue of extending the Bank Term Funding Program (BTFP).
This initiative was launched in March 2023. The purpose of the program is to provide the necessary liquidity for financial counterparties through term loans secured by bonds.
The Fed's refusal to extend the BTFP may lead to an outflow of funds from the banking segment in favor of other markets, including cryptocurrency.
In addition, the community expects a softening of the regulator's policy regarding the interest rate, although the probability of a decrease in the indicator in March 2024 is quite low, as experts noted earlier.
Source: https://incrypted.com/kryptoekspert-sprognozyroval-korrektsyju-tseny-bytkoyna-v-aprele/
