The largest cryptocurrency by market value BTC At the time of writing, it is below $60,000. Although it made a quick test above $61,000 in the last 24 hours, it was confirmed with the decline that short-term sellers are active at higher levels. Today is the big day, we have shared all the details you need to know about today in the last 24 hours. Now, after the Fed decision by the experts cryptocurrencies Let’s look at the predictions for.
Cryptocurrency Comments
The big day has arrived and the interest rate decision is just hours away. Cryptocurrency investors It will be an exciting day for and expectations for the coming months will be shaped by the meeting. Daan Crypto Trades reminded that investors should give the event enough importance as it is the first interest rate cut in 4 years and wrote the following;
“Today is the big day. In addition to the first rate cut in years, we will also see the summary of the Fed’s economic projections, which will give a sense of how the Fed sees the economy. Then Powell’s speech will wrap it all up.
Volatility is guaranteed.”
In the image above, you can see the latest figures of the 3-year interest rate expectations that we have been announcing at length throughout the week. Major revisions are expected in these figures. Since the possibility of seeing a downward revision is very strong, we should also witness an increase in cryptocurrencies.
QuintenFrancois said the interest rate cut was due to Bitcoin 
$60,073 draws attention to its potential impact on price.
“Fed interest Bitcoin went from $69,000 to $16,000 to $74,000 as the exchange aggressively increased its rates.
Imagine what $BTC would do if rates were cut aggressively.”
Therefore, the Fed’s response to the 50bp market expectation will be extremely important. There were no leaks to known journalists before the meeting and since Fed members did not speak for days before the meeting, the Fed did not do anything to direct the expectation. There will be a surprise in the evening.
Bitcoin Will Be $300,000
That’s what Thomas Fahrer thinks about him Bitcoin (BTC) will soon begin its journey to $300,000. Although he made this comment based on the reaction of the gold price to the interest rate cuts, cryptocurrencies have not been following in Gold’s footsteps lately. Although it shows a high correlation with stocks in declines, it does not accompany them in rises.
This is related to the fact that most investors avoided taking high risks just before the Fed’s policy change, as crypto is a much riskier market. Buffet has increased his cash holdings above the level of 2005, and some people are very nervous.
Thomas wrote the following;
“The beginning of every Fed rate cut cycle over the last 25 years has sent the price of Gold higher.”
“Bitcoin will be the same, just a bigger explosion. $300,000 in play.”
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
