$BTC, which is trading slightly up on Wednesday, is set to make a big move in either direction depending on what the federalreserve announces later in the day about interest rates. LedesmaLyllah reports.
although some traders see the price going up to $30,000 or falling to $25,000 on positive or negative momentum depending on what the Federal Reserve announces about interest rates. Analysts expect the Fed to raise rates by a quarter-point. according to the. Edward Moya, senior analyst at foreign-exchange trading firm Oanda, said momentum flows could support a 5% move in either direction.
“If the Fed doesn’t spark a rally, bitcoin could settle closer to the $25,000 region.” Mike McGlone, senior commodity strategist at Bloomberg, said that there could be a “super-cycle” happening in crypto. “Bitcoin beating gold, the top-performing old-guard commodity in 2023 to March 20, by almost 10x may be indicative of a super cycle happening,” hearguing that many aspects of the digital-asset ecosystem are creating issues for consumers, the financial system and the environment.
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