bullish

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Rally

United

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With two world's largest economies — the United States and China — both being close to the start of the next easing cycles, the macro conditions for a cryptocurrency rally look potentially strong, analyst Qiao Wang of Alliance says.
<h2 id="we-ll-be-way-up-in-few-months-analyst-qiao-wang-is-bullish-on-crypto">"We'll be way up in few months": Analyst Qiao Wang is bullish on crypto</h2>
Renowned cryptocurrency researcher and commentator Qiao Wang is most bullish on crypto right now compared to how he had been estimating the segment for the last months. This should be attributed to a combination of macro factors, he shared on X yesterday, Sept. 27.
<blockquote>
 this is the most bullish ive been in months. 2 biggest economies started the easing cycle. chart finally looking good. sentiment is still somewhat in disbelief. occams razor is we’ll be way up a few months from now.— qw (@QwQiao) <a href="https://twitter.com/QwQiao/status/1839528933315760491?ref_src=twsrc%5Etfw">September 27, 2024</a>
</blockquote> 
He indicated that the two largest economic systems in the world — the U.S. and China — started "easing cycles." It means that both countries are back to "quantitative easing" (QE), i.e., a form of large-scale purchasing of securities on the open market necessary to lower interest rates and increase money supply.
Such measures were taken by the U.S. government during the 2008 and 2020 crises to address the market recession and its effects for citizens.
Also, Wang admitted that the "chart finally is looking good." In the last month, Bitcoin (BTC) added almost 10%, dismissing the battle-tested "Bitcoin hates September" narrative.
At the same time, he added that market sentiment remains in the "disbelief zone." As such, the clock is ticking for the rally to "way up a few months from now," the analyst concluded.
<h2 id="big-recession-around-corner">Big recession around corner?</h2>
The potential QE initiatives from both the U.S. and China are discussed by the community and professionals as powerful catalysts for tough times.
For China, this move looks even more exotic. For the first time in 19 years, the People’s Bank of China initiated a treasury bond trade totaling 100 billion yuan or $14.1 billion in equivalent.
In the U.S., the Fed cut the rate for the first time since July 2023. After spending over a year at 5.25%, the metric was reduced to 5%.
As covered by U.Today previously, seasoned trader Henrik Zeberg repeatedly forecast the "worst recession since 1920s" to come in the next months.

Most Bullish on Crypto in Months: Top Analyst on Two Macro Triggers for Rally

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