Analysts of the cryptocurrency exchange Bitfinex predicted a rise in the price of Bitcoin, stating that the FED could keep interest rates constant at the end of January.
Bitfinex analysts, US Federal Reserve (FED) Like the general market, the interest rate decision to be announced at the end of January They expect a decision to keep it constant reported.
Analysts speaking to The Block stated that the possibility of the FED keeping the interest rate constant is very high, while this situation It keeps the appetite for risk products such as Bitcoin and cryptocurrencies vigorous. he emphasized.
According to CME FedWatch, which reflects the market’s general expectation about the FED’s next interest rate decision. It will be announced on January 31 at 22.00 CET interest rates at 5.25-5.50% probability of remaining stable as 97.4% is seen.
Bitfinex analysts also predict that the FED will keep the policy rate for 2024 at approximately 75 basis points He also pointed out the Summary of Economic Projections, which he predicted to reduce, and that this situation would be beneficial for investors. positive He reminded me that it was a signal. Analysts included the following statements in the details of their statements specific to the subject:
If this potential reduction remains consistent with the Fed’s stabilization goal, it could become a critical move to support the economy. However, the timing and scale of these interest rate cuts are important. Early or excessive reductions can reignite inflation, while delays or minimal reductions can hinder economic growth.
Within the scope of the fight against inflation for about 2 years, “hawk” the FED, which pursues policies will start cutting interest rates next year It is being looked at with certainty.
According to CoinGecko data, in the last 24 hours 0.3% Bitcoin losing value at the time of writing from $42,576 is being traded.