Federal Reserve Policy Shifts Could Boost Bitcoin Appeal Alongside Gold
• Federal Reserve interest rate cuts in 2024 could increase appeal of Bitcoin alongside gold as fixed supply assets • Analysts not predicting meteoric rise but see potential for increased Bitcoin appeal amid easing monetary policy • Bitcoin typically exhibits negative correlation with US Dollar; correlation now increasing amid policy shifts • Historical correlation between Bitcoin and gold stands at almost unprecedented levels • Importance of US approval of Bitcoin ETFs seen as crucial indicator of legitimacy, though impact uncertain