Deniz 
Leading cryptocurrency Bitcoin is probably going to exhibit great growth in the fourth quarter of the year, according to Matthew Sigel, head of digital assets at financial behemoth BlackRock.
After the most recent Federal Reserve action, Sigel is more optimistic about the biggest cryptocurrencies.
On Wednesday the Fed decided on a 50 basis point rate drop above expectations. The action startled the market since professional experts and PolyMarket gamblers both expected the central bank to settle for a less than 25-basis point rate cut.
After the rate drop announcement, the price of Bitcoin shot much higher. On the Bitstamp platform earlier today, the bellwether coin shot to an intraday high of $63,882.
Related: How Did the Fed’s Interest Rate Decision Affect Bitcoin and Crypto Market?
Though the biggest cryptocurrency usually underperforms this month, Bitcoin is presently up as much as 8% in September. With an average increase of 37.9%, November usually performs the best month for Bitcoin.
The big rate drop by the Fed will produce simpler liquidity conditions. This will probably be good for the riskier Bitcoin investments.
Sigel has noted that traditionally the crypto king has had a close favorable relationship with money growth.
BlackRock has released a new white paper outlining the top cryptocurrency as a portfolio diversifier able to buffer against several macro risk variables.
With the release of its record-breaking Bitcoin ETF, the financial monster created waves early in 2024.
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