May 30, 2024

Taylor Daily Press

Complete News World

Bitcoin on the cusp of recovery?  Crucial FOMC meeting sets course

Bitcoin on the cusp of recovery? Crucial FOMC meeting sets course

Is Bitcoin about to rebound? Ahead of the upcoming Federal Open Market Committee (FOMC) meeting, investors and analysts are turning their attention to the potential impact of this meeting on the price of Bitcoin.

Bitcoin ready for a strong recovery?

Renowned Dutch cryptocurrency analyst Michael van de Poppe suggests that Bitcoin may have bottomed, with an imminent recovery on the horizon after the upcoming Federal Open Market Committee (FOMC) meeting. Van de Poppe emphasizes that historically, Bitcoin has often fallen before a FOMC meeting, only to recover afterward. This observation suggests that this pattern may be repeated.

In a post on

High interest rates can cause carnage

Another cryptocurrency analyst, Crypto Kid, is less positive. He highlighted the market's sensitivity to FOMC meetings in a recent YouTube video, with a particular focus on signals of interest rate hikes.

“If the Fed hints at the possibility of raising interest rates, expect a correction across all markets,” he warns.

However, there is a glimmer of hope if the Fed decides to pause or even cut interest rate increases, something currently seen as unlikely. Such actions could be a huge boost to Bitcoin's price.

The results of the upcoming Federal Open Market Committee (FOMC) meeting will be crucial for the short-term future of Bitcoin and other cryptocurrencies.

Trade €10,000 for free and get a €10 bonus

Do you want to enter the world of cryptocurrencies and perhaps buy Bitcoin or any other cryptocurrency? Then take your chance now with this exclusive offer! Thanks to a special deal between Newsbit and Bitvavo, one of the most accessible and user-friendly cryptocurrency exchanges in Europe, our readers receive an exclusive offer.

See also  Vande Lanotte on energy: "War requires special measures, separate the price of cheap electricity from the expensive one"

Create an account with Bitvavo via the button below and receive a welcome gift of €10 absolutely free. And that's not all – you also don't pay trading fees on the first €10,000 of transactions. Register now!