FOMC Meeting Could Help Bitcoin’s Price Sky Rocket; Here’s Why
Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin (BTC) has been trading around $19,400, essentially unchanged over the previous 24 hours and down 5% over the past week. Now that the market has moved past “The Merge,” cryptocurrency prices are once again closely tied to inflation and interest rate dynamics. Bitcoin Price Predictions Prior to FOMC Meeting The FOMC meeting of the U.S. Federal Reserve (Fed) will take place later today, and the Fed is expected to announce an increase in interest rates at that time. The crypto market is likely to experience more volatility in the lead-up to this significant event, as has been the case over the previous month. After the most recent readings on inflation and employment, the market appears to have priced in another 75 basis points of rate hike. According to trading desk QCP Capital, these studies’ findings pointed to ongoing core inflation in the US currency. The company forecasts that ...