As the financial world braces itself for the outcomes of today’s Federal Reserve meeting, Bitcoin traders are turning to crypto veteran Austin Arnold for crucial insights into what investors might anticipate.
The market is waiting with bated breath to see if the Fed will opt for any change in rates, but investors should zero in on it’s any nuances and hints about rate movements in the future.
Over the last few months, Bitcoin has been on an uptrend, its growth further fuelled by breakthroughs in Cryptocurrency regulation such as Binance.US. The cpposite seems to hold true when it comes to the increasing consumer inflation concerns. Despite a hearty labor market and reliable housing figure, looming medical cost rises and a sudden spurt of wage inflation could mar the Consumer Price Index figures. Prior Federal board member Roger Ferguson has hinted that while there won’t be any action taken at this pokerfaced meet, the event in November should be trailed for further prospects.
Having crossed the crucial $26,800 resistance yesterday, Bitcoin managed to enter a trail leading to a promising $27,650 target. However the BTC could potentially drop to $26,910 and stall from there- settling at a sensible $26,550 whereas, the psychological lock $26,000 could sometime chair suite it further deceleration. Right now, BTC seens to have settled itself at $27,202.
