Rallying Bitcoin and Ethereum Show Now is the Time to Buy

Key cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) are climbing higher, potentially signaling the crypto collapse may soon end…

Bitcoin is up 15.7% in the last month, and is now over $24,000 per coin. Meanwhile, Ethereum jumped 52.3%, and sits over $1,900 per token today.

Yet, the major factors driving their recoveries include the U.S. Federal Reserve’s comments that it may ease its rate-hike efforts.

Meanwhile, the U.S. Consumer Price Index (CPI) broke even in July from June. So, even though it rose 8.5% on an annual basis, the 0% growth month-over-month has offered some relief to the market.

While cryptocurrencies aren’t equities, their values have ebbed and flowed with U.S. stocks over the course of 2022.

And with the S&P 500, Nasdaq, and Dow Jones all up by 10.2%, 13.2%, and 7.6% for the month, Bitcoin and Ethereum are also seeing substantial improvements.

Still, Bitcoin’s value remains down by 49.3% for the year. And Ethereum is trading 49.8% lower since the start of 2022.

Some experts also warn the stock market’s rally may only be temporary. Bank of America (BAC) analysts told clients that sentiment among money managers and consumers remains volatile.

In turn, Bank of America noted investors have yet to see the true market bottom – indicating more choppiness could be ahead before broader recoveries truly take hold.

Even so, many experts project Bitcoin and Ethereum will soon see their cycle bottoms amid easing cryptocurrency fears.

This, combined with a rise in market liquidity, has some analysts forecasting positive economic momentum – likely boosting Bitcoin’s and Ethereum’s values higher in the weeks and months ahead.