The majority of the Bitcoin traders are looking toward the Fed’s new rate hike announcement, to make sudden decisions, Bitcoin sell/buy.
The US economy is currently facing high inflation issues and inflation currently is highest since the last 40 years. Since last year, the US Federal Reserve (Fed) has shown significant efforts to slow down the inflation rate via tightening monetary policies.
Today FED President Jerome Powell at 18.30 UTC (11:30 PM IST) will give verbal guidance on the rate hike and publish texted rate hike.
The money market (crypto, stock, etc.) will follow this announcement precisely. In short, the market will react on behalf of the rate hike announcement. If they increase the interest rate by a very small point than expected that the market will remain unfazed but increment with a very high point will bring a better level of panic sell pressure.
The concept of rate hikes & market fluctuation is very simple. If the Fed increases the interest rate then people prefer to hold their money in bank accounts, instead of investing in risky assets like Bitcoin, Ethereum, or any other stock assets.
Now three hours later, from the time of publication of this article, the Fed will announce its rate hike data, and the majority of the crypto & stock market traders are waiting for this moment, to short/buy for the short term to make a profit.
A few veteran Bitcoin traders shared their opinions on the upcoming Fed rate hike and claimed that the Bitcoin market is currently mature enough to deal with this situation and the trade price will remain almost unfazed or will show some increment, instead of expected downfall.
The current trade price of Bitcoin is $27,149 & this trade price is 0.24% down over the last 24 hours trade price.
The readers of this post are requested to research themselves to find the best circumstances to gain profit or short holdings, instead of depending on this report, as this report was prepared on behalf of the prediction made by the Bitcoin experts publicly.