{"id":364508,"date":"2022-12-15T03:09:13","date_gmt":"2022-12-15T08:09:13","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=364508"},"modified":"2022-12-15T03:09:13","modified_gmt":"2022-12-15T08:09:13","slug":"digibyte-price-prediction-as-fed-hikes-interest-rates-by-half-a-point","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/digibyte-price-prediction-as-fed-hikes-interest-rates-by-half-a-point","title":{"rendered":"DigiByte Price Prediction As Fed Hikes Interest Rates By Half A Point"},"content":{"rendered":"
DigiByte price has gained over 4% over the last 24 hours amid a general crypto market mid-week rally. On Wednesday, the Federal Open Market Committee (FOMC) eased the pressure it has been putting forth to curb inflation after the Consumer Price Index (CPI) returned lower-than-expected figures.<\/p>\r\n
In other words, although inflation is still relatively high, it went down in November compared to October. Bitcoin price<\/a> has, since the beginning of the week, steadied its uptrend, where it nearly brushed shoulders with $18,400.<\/p>\r\n The second largest cryptocurrency, Ethereum, was not left behind as it climbed to a five-week high of $1,352. Meanwhile, ETH has retreated to trade at $1,29; a move suggests that further declines are still apparent.<\/p>\r\n DigiByte price extended its up leg on Wednesday during the American session as bulls capitalized on positive pressure emanating from the Fed news. The cryptocurrency market will likely keep the week’s positive momentum intact now that the FOMC has acknowledged that inflation is easing.<\/p>\r\n November’s selloff triggered by FTX collapse left no stone unturned, with DGB spiraling from $0.011 to $0.006. A recovery ensued immediately, allowing DigiByte<\/a> to lift above a confluence resistance at $0.0079 \u2013 formed by the 50-day Exponential Moving Average (EMA) (in red) and the lower falling trend line, as shown in the daily chart below.<\/p>\r\nDigiByte Price Forecast: Assessing the Possibility of DGB Rallying To $0.014<\/h2>\r\n