Member-only story
Why Bitcoin Should Be Your First Focus?
The unprecedented measure of purchasing by the Fed as part of its money-related stimulus plan known as quantitative easing (QE) provided a tailwind for monetary assets
Bitcoin’s price fell by around 5% during the declaration by the Fed’s policymaking Federal Open Market Council in its post-meeting statement, however, buyers rushed to step in around the $60,000 support level.
Analysts stay bullish on cryptocurrencies, however, some have pointed to declining exchanging volume as a sign of slowing upside force in prices.
“We haven’t seen an episode of FOMO (Fear of missing out) yet, so the sharpest bull-run part of the meeting is on the way,” Alex Kuptsikevich, an analyst at FxPro, wrote in an email to CoinDesk. “Despite BTC’s extremely sluggish performance lately, what still draws consideration is the apparent support on dips,” Kuptsikevich composed.
Latest Prices:
- Bitcoin (BTC): $46,563.14
- - Ether (ETH): $3,817.25
- 10-year Treasury yield closed at 1.596%
