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Home Crypto News Analysis Analyst Predict Bitcoin Price Might Start Rising Again After U.S. Fed Meeting...

Analyst Predict Bitcoin Price Might Start Rising Again After U.S. Fed Meeting Today

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After the Fed meeting on December 15, the bitcoin price may complete the correction and start rising on the basis of “Sell The Rumor, Buy The News”.


 

Crypto investors are waiting for the Federal Reserve meeting to learn how quickly the central bank of the United States planned on unwinding its bond-buying program.

The Fed is likely to announce a faster tapering of bond purchases, but more pronounced concerns over inflation or an aggressive “dot plot” could roil markets.

“Overall, the market is in a wait-and-watch mode on the Fed outcome on Dec. 15,” said Jigar Trivedi, a commodities analyst at Mumbai-based broker Anand Rathi Shares.

BTC Traders are placing buy orders in the $44,500- $46,000 range, while at the time of writing, Bitcoin is trading above $48,600.

Analyst Michael van de Poppe expects a similar scenario.

A similar scenario emerges based on the analysis of the Bitfinex exchange BTC order book.

 

According to the Material scientist founder, the bearish sentiment still prevails among whales.

Whales have not bought a single drawdown since the beginning of October and have only been selling lately,” he explained.

On December 15 Biden administration will release the report on the dynamics of consumer prices for November. After the report, the Fed will summarize the results of the meeting and provide updated economic forecasts and after that, the press conference of the head of the Central Bank Jerome Powell will begin.

During his speech in the Senate on November 30, Powell refused to interpret the increase in inflationary pressures as “temporary.” He also pointed to the possibility of curtailing the buyout of bonds “several months earlier than expected.”

The prospect of a Fed tightening policy has pushed traditional markets and bitcoin towards a moderate correction.

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Albert Brownhttps://thecryptobasic.com/
Albert Brown is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. Holds major cryptocurrencies and has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

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