Eyes on the FED in Bitcoin! How Will the Fed’s Interest Rate Decision Affect Bitcoin? Bloomberg Experts Evaluated!

Bitcoin (BTC) and the markets turned to the interest rate announcement from the FED.

Despite the volatile movements before the Fed rate decision bitcoin With over $28,000, the largest altcoin Ethereum (ETH) It’s just under $1,800.

According to Bloomberg’s report, Bitcoin is expected to reach $30,000 after the FED’s decision, as investors and analysts expect the FED to cut the interest rate or keep it constant due to the ongoing banking crisis in the US.

Because analysts state that many investors started to invest in Bitcoin as a precautionary measure after the banking crisis and that BTC gradually replaced gold.

Speaking to Bloomberg in this context, Pepperstone Group research head Chris Weston FED’s move after the banking crisis bitcoin and that it increased the price of gold.

famous again bitcoin advocate Ark Invest CEO Cathie Wood He also argued that this crisis has attracted more institutions to invest in Bitcoin.

Finally, IG Australia market analyst Tony Sycamorenoted that there is an inverted head-and-shoulder pattern on the Bitcoin chart.

of this model BTC Claiming that there is a bullish pattern pointing to a further increase in the price, Sycamore continued his words as follows:

“My Bitcoin technical analysis shows that the price is poised to rise towards $35,000.

Because interest rate markets have moved from pricing rate increases to pricing rate cuts.

In this regard, there is now a slight tailwind supporting Bitcoin’s price increase.”

*Not investment advice.