Analyst: Bitcoin price may hit bottom in a few weeks, rebounding to new highs later this year

According to BlockBeats, on March 18th, David Duong, head of research at Coinbase Institutional, stated that the market almost universally 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 in the Fed's balance sheet reduction (i.e. quantitative tightening, QT) plan. In his report on Monday, he wrote, "We believe that the Federal Reserve may pause or end its quantitative tightening program, as bank reserve levels have approached 10-11% of US GDP, which is typically considered sufficient to maintain financial stability He stated that the recent cryptocurrency sell-off is mainly 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. （CoinDesk）