Yes I think that's the most probable scenario. I don't think BTC will pass the 1k mark unless there are some clear signals or improvements on the block size issues. The uptrend may continue but crossing the 1k resistance would take much more than some panic.
Now, about the fed rates, we also have to consider the election (which could have a "brexit" like effect). I don't think we'll have an announcement this month, it will be most likely on December.
If money from big investors like hedge funds flows into bitcoin, this can increase the market cap. enormously and will not bring many extra transactions. Further some coming updates and applications will also increase the capacity per block.
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