As per CoinMarketCap, it is noted that Bitcoin substantially drops to nearly $28k. Hope the upcoming FOMC meetup might refrain the market.
- Bitcoin faces a subsequent fall for the consequent four days.
- Expecting the upcoming May 4th FOMC meeting could be a timely help over the fall.
As per the instability caused by the United States banking sector, Bitcoin (BTC) fell down for consecutive four days from its peak of $30k till the last week. Also, crypto experts have predicted the fall could be because of the higher interest rates and constrained monetary policies. It is anticipated that the upcoming FOMC meeting on May 2-3 could be the savior to break the happening impact in the market.
The month of May has started out great with extreme volatility. The upcoming Federal Open Market Committee (FOMC) is expected to have a tenth consecutive rate hike. Additionally, Bitcoin has fallen in price and striking at $28k nearly in the crypto industry to date.
Will FOMC Meet Boost Bitcoin?
Consequently, the current price of Bitcoin (BTC) is sloppy down to $28,289.35 at a 5.06% decrease over the last 24 hrs. Meanwhile, the trading volume continues to grow and is in the range of $18,152,102,516 with a 39.85% increase over a 46.63% market dominance.