The cryptocurrency volatility continues to frighten investors as Bitcoin shows a drastic ebb and flow in its price. The markets are currently in recovery mode, with Bitcoin touching $ 91,000 after falling to $ 86,000 again. In the middle of the market chaos intensifying with anticipation of the bear market scenes hitting the domain, HSBC experts have now cleared the air, stating how a new year-end rally might be on the horizon, setting the record straight.

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HSBC’s Bullish Market Stance

According to HSBC’s Max Kettner, the cryptocurrency markets are already in their recovery mode, with crypto poised to break out in December. Kettner was quick to emphasize how the latest November sell-off that jolted the markets was nothing but a brief correction phase for the domain to encounter and combat.

Kettner shared how in December, the markets may prosper again, with chances of a Fed rate cut fueling the market rally further.

“Look, I don’t think this December will be awfully different. Actually, when we look at the December Fed meeting, most likely they are going to cut. I don’t see really much change from the Fed there and also in terms of language. So that probably is pretty supportive. But overall, I think perhaps markets and investors have extrapolated a little bit too much from that November sell-off, or should we call it a mini correction, particularly around crypto. We’ve had an awful lot of questions around what this crypto sell-off means for equities. And fundamentally, there isn’t an awful lot to do really with the broader risk asset spectrum. In fact, what this correction has done in November is brought back really a lot of our shorter-term positioning signals back towards sort of buy territory.”

Bitcoin’s Recovery Details

With bullish December calls intensifying, Bitcoin is also responding to this development, rising to past $90K at press time. Moreover, Eric Balchunas, senior ETF analyst at Bloomberg, shared how Vanguard may have played a direct role in ramping up Bitcoin’s current price pace.

“THE VANGUARD EFFECT: Bitcoin jumps 6% right around the US open on the first day after the Bitcoin ETF ban is lifted. Coincidence? I think not. Also $1b in IBIT volume in the first 30 min of trading. I knew those Vanguardians had a little degen in them; even some of the most conservative investors like to add a little hot sauce to their portfolio.”

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