Bitcoin, Crypto Downturn Possible in Q2-Q3: Analyst Elja
- Crypto investor Elja predicts Bitcoin and crypto prices to fall in Q2 and Q3.
- Elja remains bullish long-term and expects sideways movement in the near future.
- Reasons include the end of the Federal Reserve liquidity program and interest rate hikes.
Crypto investor and Forbes 40U40 honoree Elja took to Twitter and outlined factors that could lead to a decline in Bitcoin and cryptocurrency prices in the coming months.
— Elja (@Eljaboom) April 18, 2024
𝟱 𝗥𝗲𝗮𝘀𝗼𝗻𝘀 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 & 𝗖𝗿𝘆𝗽𝘁𝗼 𝗖𝗼𝘂𝗹𝗱 𝗚𝗼 𝗗𝗼𝘄𝗻 𝗜𝗻 𝗤𝟮-𝗤𝟯
1⃣ BTFP Ending
➜ BTFP, or Bank Term Funding Program, is an emergency lending program created by the Federal Reserve to provide additional funding.
➜ It was established in March… pic.twitter.com/sMev76t62m
Elja pointed to the conclusion of the Federal Reserve’s Bank Term Funding Program (BTFP) as a reason which could cause reduced liquidity in the cryptocurrency market. Established in response to bank failures in 2023, the BTFP’s halt on issuing new loans could restrict the easy flow of capital.
Additionally, Elja noted there are very …
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