Global economies were eagerly awaiting the Fed’s meeting yesterday. In particular, crypto investors were in great anticipation about the direction of Bitcoin’s movement according to the decisions to be taken. Here last night, Fed announced that the interest rate will remain constant and Bitcoin started to rise.
The Federal Reserve has stated that it may raise interest rates by a total of six times between 2022 and 2023. The Fed demonstrated that it can raise interest rates without waiting for other expectations to be realized in order to reduce inflation. As a result, Bitcoin may see a significant drop in value in 2022 as a result of possible interest rate decisions, but it is currently rising slightly.
On the other hand, Fed chairman Jerome Powell stated that he does not see cryptocurrencies as a financial risk and can be a useful tool if stablecoins are regulated. We can say that this has lit a green light on the crypto market right now.
Bitcoin and other cryptocurrencies experienced a serious drop in December while waiting for the Fed decisions to be announced. Bitcoin, which fell to the level of $42000 at the beginning of December, put crypto investors in serious anxiety.
The reaction after the decision was quick
After all these explanations, Bitcoin gained a slight strength and rose to the level of $49500. However, altcoins also accompanied Bitcoin and started to rise, albeit slightly. There is no doubt that if Bitcoin can push itself above $50000, it will be even more comfortable. However, the most highly anticipated region is seen as the $53000 level.
Altcoins are also on the rise
When we look at other important coins, ETH has risen to $4092. AVAX rallied a little faster, breaking through the $100 barrier. EGLD performed much better, rising to $323.93. MANA, SAND, and AXS, among other Metaverse coins, are still on the rise.
As a result, this news made crypto investors happy. The movements of Bitcoin in the coming days are of great importance for the crypto market.
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