Will Bitcoin and Altcoins Rise? Markets After FED Statements!


Cryptocurrency markets were focused on the announcements to come tonight. For weeks, it was said that a 25 basis point increase was priced in. As a matter of fact, it was so, and the FED found it appropriate to increase it by 25 bp. Contrary to expectations, Bitcoin did not make serious price movements. It has been moving between $39,000 and $40,500 for about an hour.

Will Bitcoin and Altcoins Rise?

Judging by the statements, the FED is transitioning to a tighter policy. However, caution will be exercised so that the economy will suffer minimal damage. This is positive for Bitcoin and altcoins. The 25 bps interest rate hike, which is the bottom level, relieved the investors to some extent. However, there are 6 possible interest rate hikes in front of us.

It is important that Bitcoin can maintain the support of $ 38,000, according to the opinion shared by Rekt Capital today, if the price can protect this area, a new jump to $ 43,000 may come in the short term.

Ethereum is above $2600. The top 10 cryptocurrencies, excluding LUNA, are also glowing green. As of 21:52, the FED Chairman continues to speak and Bitcoin is still above $ 39,800. You can find more details about the explanations in our previous news. In summary, short-term statements may trigger the rise of the markets, but the fact that interest rate hikes are almost certain in the next meetings will increase volatility.

Markets After FED Announcements

With the effect of the statements, the US stock markets erased their gains during the day and turned negative. Gold broke below $1900 for the first time since March 1, and brent oil eased to $98.

The dollar index (DXY) fell to 98.78. Gram gold fell below 900 TL and the dollar is at 14.67 TL. The FED will shrink its balance sheets and increase interest rates at every meeting so that rising inflation is not permanent.