{"id":355533,"date":"2022-11-03T05:58:07","date_gmt":"2022-11-03T09:58:07","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=355533"},"modified":"2022-11-03T11:59:13","modified_gmt":"2022-11-03T15:59:13","slug":"fomc-meeting-transpires-btc-to-be-bullish-or-bearish","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/fomc-meeting-transpires-btc-to-be-bullish-or-bearish","title":{"rendered":"FOMC Meeting Result – Bullish and Bearish Bitcoin Price Predictions"},"content":{"rendered":"

Over the last couple of months, financial meltdowns have been a rather common story in several countries. For the citizens of the US; even on a global level, there has been speculation of a recession. While the global markets have historically reacted to it in unexpected ways, the blockchain industry in general has been first when it comes to volatility. The FOMC meeting transpired amidst this crisis, and as investors turn to an indicator of what it may mean for the market’s short-term growth.\u00a0<\/span><\/p>\n

Since the 2021 bull run, Bitcoin<\/a> and other altcoins<\/a> had been gaining popularity on a daily basis. The blockchain sector had gone mainstream, with a variety of categories popping up every now and then. But this growth became stagnant even before the major crash when governments rolled out reports where an upcoming financial crisis was evident.\u00a0<\/span><\/p>\n

Currently trading at around $20,000, BTC has been an asset that has been on the watch list of several investors worldwide. However, breakdowns from major national institutions and banks had disrupted the engagement that crypto in general had gained in the past year. The recent subject of discussion, however, has been the US and its struggles on a macroeconomic level.\u00a0<\/span><\/p>\n

The FOMC meeting<\/span><\/h2>\n

FOMC or Federal Open Market Committee is one of the main components of the nation\u2019s financial system. The duty of this entity is to direct monetary policies that have an impact on all existing markets. There are eight yearly meetings, where the members decide and announce the financial conditions of the US after reviewing its current economic state.\u00a0<\/span><\/p>\n

The latest of these meetings was on the 2nd of November, which was a much-anticipated event for investors globally. This is because while other countries have their own markets and governing bodies, the US has always influenced them directly or indirectly. However, the outcome of this meeting was something that analysts and organizations had predicted for quite a while.\u00a0<\/span><\/p>\n

The results were predictable to an extent<\/span><\/h2>\n

As mentioned above, several analysts had publicly mentioned their views on what the outcome of the meeting could be. In fact, some had even tweeted their strategies and what the next move would be if the interest rates did infact, raise to their expectations.\u00a0<\/span><\/p>\n

For instance, an analyst who goes by the name CryptoChase on Twitter had stated that he would be looking to \u201clong a sweep of equal lows on Bitcoin as long as data comes out as predicted\u201d.<\/span><\/p>\n

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$BTC<\/a><\/p>\n

When I think about FOMC, I think about liquidity. Previous FOMC's often run liquidity and reverse or darthmaul etc. Will most likely long a sweep of the equal lows on Bitcoin as long as data comes out as predicted (aka 50\/75 bps hike and not a 100 bps hike). pic.twitter.com\/aoZEVQJgrz<\/a><\/p>\n

— Crypto Chase (@Crypto_Chase) November 2, 2022<\/a><\/p><\/blockquote>\n