Bitcoin

Gary

Bitcoin (BTC) experienced a slight recovery today and its price rose above $43,000. This revival is attributed to the potential pause in interest rate increases by the FED, which is scheduled to meet at the end of January. 
The FED's meeting, which will take place in just 15 days, will determine the future direction of the US Federal Reserve's monetary policy. According to the CME FedWatch tool, current forecasts show a 97.4% chance that the Fed borrowing rate will remain steady within its current target range of 5.25%-5.50%. 
Analysts from Bitfinex have suggested that a pause in interest rate hikes this January could provide much-needed relief for the strained banking sector and stagnant stock market. According to analysts, not increasing interest rates could potentially provide significant support to Bitcoin. 
Related News: <a href="https://en.bitcoinsistemi.com/ripple-ceo-brad-garlinghouse-makes-harsh-remarks-about-sec-chairman-gary-gensler/" target="_blank" rel="dofollow">Ripple CEO Brad Garlinghouse Makes Harsh Remarks About SEC Chairman Gary Gensler</a> 
Analysts also drew attention to the FED's Summary of Economic Forecasts. The FED is expected to reduce the policy rate by approximately 75 basis points throughout 2024. 
The potential interest rate cut is seen as a strategic move to strengthen the economy, especially if inflation remains consistent with the Fed's stability goal. But Bitfinex analysts warn that the timing and scale of these rate cuts are critical. Early or excessive reductions can reignite inflation, while delays or minimal reductions can hinder economic growth. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/how-will-fed-meetings-and-interest-rate-decision-at-the-end-of-the-month-affect-bitcoin-experts-explained/">How Will FED Meetings and Interest Rate Decision at the End of the Month Affect Bitcoin? Experts Explained</a>

How Will FED Meetings and Interest Rate Decision at the End of the Month Affect Bitcoin? Experts Explained

Bitcoin Sistemi EN

Other articles published on Jan 16, 2024

Indian crypto traders seek Tax relief, WazirX CEO drops suggestion

Hedera Network Enhances Accessibility with MetaMask Integration through Hedera Wallet Snap

Shiba Inu Burns Up: 1600% Surge, 89M SHIB Gone! SHIB Price To Explode?

Here’s What’s Awaited for Avalanche (AVAX) & Solana (SOL) Price Until the End of the Week

Ondo Foundation Set to Unlock ONDO Tokens, Enhancing Liquidity in Its DeFi Ecosystem

Injective Price Hints Bullish Sentiment! INJ Price To Record 10% Gain Soon?

Join our free newsletter for daily crypto updates!