Jerome Powell recently gave a speech on the Federal Open Market Committee (FOMC) interest rate hike. The FED Chairman took the opportunity to talk about the state of the banking sector. He said the latter has seen some improvement and is in good health. Such remarks made the famous crypto analyst Michaël van de Poppe react. The latter recently presented on Twitter his point of view on the question.
The popularity of bitcoin (BTC) will only grow, says crypto strategist Poppe
Michaël van de Poppe recently railed against Powell’s speech on improving the banking sector who wants to bleed bitcoin (BTC) to death. The crypto strategist thinks the FED chairman is not serious in claiming that the banking system is healthy and sound. He pointed out that the latter has never been so weak as now, after the collapse of several large banks. He added that this will be the Fed’s last rate hike.
Meanwhile, Michael van de Poppe expects bitcoin (BTC) to soon enter a significant bull run. According to him, market movements portend a bright future for digital gold. He said : “Bank failure, as hard as it sounds, is actually bullish for BTC“. He suggested that he might have a dip in the price of the flagship crypto. However, the period of decline will be accompanied by a larger reversal.
“Bitcoin’s strength during a banking crisis is literally what you want and what you need to see. If a correction occurs due to collapsing banks, it is mainly due to a shortage of liquidity, but bitcoin will only get bigger after that.Poppe explained.
With the banking crisis, Michaël van de Poppe gave very specific advice to consumers. Indeed, he said:Withdraw your money from banks and buy durable goods like gold and silver. Buy bitcoins and cryptocurrencies and wait“. He added : “A bank is not a bank, you lend them your money so they can take excessive risks. Adapt“. For the crypto strategist, it’s “the decade of cryptos and commodities“. That said, now is a good time to find out the bitcoin (BTC) prediction ahead of NFP.
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