Hello everyone we see that Bitcoin dropped in price from $ 53,000 in the 4hr time frame yesterday to over-sold at $ 39,000. Technically, the $ 44,000 and $ 48,000(on 0.382) resistances are ahead of Bitcoin. And if the downtrend continues, prices should stabilize below the $ 38,000 area.
Impressive market news Thirteen days ago, in a previous analysis, I announced that interest rates and the Federal Reserve's fiscal policies would have a huge impact on the market.
Gary Gensler, chair of the U.S. Securities and Exchange Commission (SEC), today described cryptocurrencies as "an asset class that's highly speculative" and that in many cases, "there is not something standing behind it other than what somebody else will pay for it."(decrypt.co)
The US unemployment rate has been announced in recent days, and if the coronavirus situation improves in the community, the Fed can make important decisions about tapering, interest rates, and monetary and fiscal policies.
The Federal Reserve is holding an important meeting today to determine interest rates , monetary policy and fiscal policies So be careful. If you like it, I will be happy to like and comment and share it with your friends.
whats your idea about federal reserve decision ? and how it could impact BTC price ?
milad_ghaheripour
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@kiu_crypto, If inflation and unemployment rates fall and the prevalence of corona disease improves in society, the government will reduce its support for the unemployed and consider policies to reduce inflation, such as raising interest rates.
Interest rates are very sensitive for traders and are in conflict with high-risk financial markets.
As a result, with rising interest rates, traders tend to take less risks in the financial markets and are satisfied with the bank's low-risk profits, which will lower stock and cryptocurrency prices.
kiu_crypto
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@milad_ghaheripour i agree with , if interest rate goes down and inflation also start to decrease , that could be bad for the BTC prifce , because as you know BTC is Anti-inflation assets and this mean when inflation start to goes higher BTC price goes up and when inflation goes down btc price goes down , this is just my opinion 🙏
milad_ghaheripour
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@kiu_crypto, Yes, that's right, thanks for your comment.