Bitcoin Expects to Resume Price Rally on Foggy FOMC Minutes
Bitcoin underwent a major downside correction hours after the Federal Open Market Committee (FOMC) released the minutes of its November 5-6 meeting on Wednesday.
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Bitcoin was trading below $19,000 on Thursday, as markets reacted to the latest Federal Open Market Committee (FOMC) minutes. In the minutes, the Federal Reserve hinted at upcoming hikes, while also acknowledging a level of surprise at the rate at which inflation has risen. Ethereum moved below $1,300 in today’s session.
Bitcoin
Bitcoin (BTC) was back in the red on Thursday, as markets reacted to the latest Federal Open Market Committee (FOMC) minutes.
September’s minutes showed that the U.S. Federal Reserve was relatively surprised at the rate at which....
Quick Facts: 1️⃣ The latest FOMC published minutes indicate general support for more rate cuts. 2️⃣ The ‘dual mandate’ remains in play, forcing the Fed to balance lowering inflation and increasing employment 3️⃣ The Fed’s move sets up the best crypto to buy now to build on the market’s momentum, with the potential for two […]
Bitcoin rose Wednesday, right ahead of the release of the Federal Open Market Committee’s minutes from their November meeting. The benchmark cryptocurrency climbed 0.13 percent to $19,198, with its rally slowing down as traders weighted vaccine progress against a persistent rise in coronavirus infections in the US. Technically, Bitcoin maintained support near $19,000, with bulls […]
On Wednesday, the Federal Open Market Committee (FOMC) and Fed chair Jerome Powell held a press conference concerning the American economy, the central bank’s plans to address inflation, and the ongoing Russia-Ukraine war. Powell announced that the FOMC decided to increase the benchmark bank rate by a quarter percentage point and further noted the Fed anticipates “ongoing increases…will be appropriate.” Federal Reserve Increases Benchmark Bank Rate For the first time since the onset of the Covid-19 pandemic, the Federal Reserve announced that it increased the....
Ethereum corrected lower after testing the $395 resistance against the US Dollar. ETH price is currently following the 100 hourly SMA, and it could resume its rally above $385. Ethereum is following a nice bullish trend above the $375 and $380 levels. The price is trading above the 100 hourly simple moving average, but it […]