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 Bitcoin price.
Bitcoin ready for a strong recovery?
Renowned Dutch crypto analyst Michaël van de Poppe suggests that Bitcoin may have bottomed out, with an imminent recovery in sight after the next Federal Open Market Committee (FOMC) meeting. Van de Poppe emphasizes that historically, Bitcoin often falls before an FOMC meeting, only to recover afterwards. This observation points to a possible recurrence of this pattern.
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Interest rate hikes can cause carnage
Another crypto analyst, Crypto Kid, is less positive. He highlighted the market’s sensitivity to the FOMC meetings in a recent YouTube video, with a special focus on interest rate hike signals.
“If the Fed hints at possible rate hikes, expect a correction in all markets,” he warns.
However, there is a glimmer of hope if the Federal Reserve decides to pause or even cut interest rate increases, which is currently seen as unlikely. Such measures could be a strong boost to the Bitcoin price.
The outcomes of the upcoming FOMC meeting will be crucial for the short-term future of Bitcoin and other cryptocurrencies.
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