Tuesday, December 06, 2022

This could happen with bitcoin ahead of a new announcement tomorrow in the United States.

This could happen with bitcoin ahead of a new announcement tomorrow in the United States.
Key Facts:
  • For the research firm, market volatility is likely to increase.
  • Arcane says interest rates will rise by 75 points.

Bitcoin (BTC) price expectations again rest on the monetary policy of the United States. On this occasion, eyes are once again set on the announcement of interest rates by the Federal Reserve (Fed) this Wednesday, November 2.

As it happened this year, Fed moves to fight inflation They have attracted a lot of attention from the markets. And with the notorious reactions to these announcements, the case of bitcoin is no exception.

For analysts at the firm Arcane Research, the announcement scheduled for tomorrow will “probably lead to volatility in a highly correlated environment with the stock”, continuing the increase in price variations that we have experienced in recent days, as we review at Cryptonoticious. We do. However, it does project a correlation with equities that appear to be breaking out, as we have also reported.

In its most recent market report, Arcane remarks that it is most likely 75 points hike in interest rate, with a probability of up to 86%. However, he argues that the potential for a shift towards a softer policy has increased. And with this, there is only option of increasing the interest rates by 50 points.

However, the movement in particular occurring, Arcane Research predicts high volatility, but strength for the bitcoin and cryptocurrency markets. In this regard, they highlight that since the last Fed announcement Both BTC and Ether (ETH) have outperformed traditional financial markets,

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