Bitcoin and Ethereum Price Prediction as Fed Interest Rate Decision is Announced – New Bull Market Starting?
In the wake of the Federal Reserve’s latest decision to hold interest rates steady at 5.50%, the financial world turns its gaze to the potential impacts on major cryptocurrencies, notably Bitcoin and Ethereum.
This stabilization of the federal funds rate comes amid a backdrop of solid economic expansion, with enduring job strength and a persistently low unemployment rate, albeit amidst ongoing inflation concerns.
As the Fed continues its vigilant approach towards inflation, aiming to anchor it back to a 2% target, the crypto market, known for its sensitivity to macroeconomic shifts, could be on the cusp of a new trend.
FOMC statement gets a big rewrite.
Tightening bias gone, but in a way that says a cut isn’t necessarily imminent.
“The Committee does not expect it will be appropriate” to cut “until it has gained greater confidence that inflation is moving sustainably” to 2% pic.twitter.com/Rzs7fFE8hv
— Nick Timiraos (@NickTimiraos) January 31, 2024
Investors and enthusiasts are now keenly eyeing Bitcoin and Ethereum price predictions, seeking to gauge whether this latest monetary policy stance could herald the start of a new bull market in the digital currency space.
Bitcoin Price Prediction
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