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[Analyst: Bitcoin Price Likely To Bottom Out In A Few Weeks, Rebound To New High Later This Year] March 18Th, Coinbase Institutional Research Director David Duong Stated That The Market Widely Expects The Federal Reserve To Keep Interest Rates Unchanged At This Week'S Federal Open Market Committee Meeting, But Investors Should Pay Attention To Any Potential Changes To The Fed'S Balance Sheet Reduction (I.E., Quantitative Tightening, Qt) Plan.In His Report On Monday, He Wrote, "We Believe The Fed May Pause Or End Its Quantitative Tightening Plan As Reserve Levels At Banks Have Reached Nearly 10-11% Of The U.S. GDP, A Level Typically Considered Sufficient To Maintain Financial Stability."He Noted That The Recent Cryptocurrency Selloff Was Primarily Due To Macroeconomic Concerns And Deteriorating Liquidity Conditions, But These Factors May Improve In The Next Quarter, Providing Support For Asset Prices. "Cryptocurrency Prices May Bottom Out In The Coming Weeks And Then Rebound To New Highs Later This Year," He Concluded.
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