Bitcoin price touched a high of nearly $18,400 in anticipation of today’s Federal Reserve meeting, where the US central bank was expected to raise interest rates by 50 basis points. Volatility picked up as the Fed meeting commenced, with Bitcoin suffering a sudden pullback to $17,700. Here’s what you need to know about the last Fed meeting of the year. No Pivot: Fed Hikes Rates 50 Basis Points All eyes were on today’s Fed meeting and if Fed Chair Jerome Powell would follow through and soften interest rate hikes from the previously aggressive 75-basis points, to a more tolerable 50-basis points increase. Related Reading: Bitcoin Price Prediction: What Elliott Wave Theory Suggests Is Next For BTC Although Powell’s speech was the most dovish in nearly twelve months of meetings, the end result was still an increase in rates, with no true pivot in sight. What this means for risk assets like crypto or the stock market, remains to be seen. Explosive volatility struck BTC ahead of the Fed meeting | Source: BTCUSD on TradingView.com Bitcoin Pulls Back Pr ..
Support the originator by clicking the read the rest link below.
