PSE Trading: Called the BTC Bottom in September 2023
In September 2023, amidst persistent economic uncertainties and inflation concerns, our macro analyst predicted Bitcoin's rebound.
Looking back, we were able to positioning our fund for the next 6 months of rally -- which help us gain +300% YTD.
In 1H23, we observed that despite economic apprehensions, U.S. equities demonstrated resilience, with S&P 500 companies surpassing earnings expectations, challenging the anticipated severe recession. This performance, coupled with the Federal Reserve's indication of a pause in rate hikes post-November, suggested a favorable environment for a year-end market rally.
Furthermore, major indices breaking out of trading ranges, despite macroeconomic turmoil, indicated a restoration of risk appetite. For the cryptocurrency market, recovering from setbacks such as the Three Arrows and FTX incidents, this shift in sentiment was critical. As a result, BTC experienced a significant 40% recovery from its lows, propelled by a diminishing inflation narrative and a renewed focus on growth sectors, including AI.
Based on these observations, a bullish projection was made for BTC to reach 30K by October.
As we reflect on this accurate prediction, it highlights the critical role of informed analysis in recognizing investment opportunities within the cryptocurrency space amid broader economic dynamics.
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