What This Gold Pattern Could Hint For Bitcoin If FED Hikes Rates
Bitcoin trades north of the $40,000 price mark with bullish momentum in the last 24 hours. Today, the U.S. Federal Reserve (FED) is expected to begin its monetary tightening policy. Related Reading | TA: Bitcoin Breaks $40K, Key Upside Break Suggests Trend Change The financial institution could raise interest rates hikes, and slowly pull liquidity from global markets. Bitcoin and risk-on assets, such as equities, are expected to turn bearish. So far, BTC’s price has failed to meet expectations. At the time of writing, Bitcoin trades at $40,416 with a 4% profit on the last day. Bitcoin....
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Bitcoin price continues drawing sideways, along with global markets, in anticipation of today’s Fed rates announcement. Although markets do not expect the Fed to reintroduce the turmoil of earlier this year, there is a chance that the central bank cranks up rates and sends bitcoin and gold on their way higher. The holding pattern in the chart reflects the anticipation leading into the Federal Open Market Committee’s announcement at 19h00 UTC later today, Wednesday. Notice how the momentum indicators have consolidated to the center of their ranges. Another rates hike, although not expected,....
The FOMC increased interest rates by 0.75 percentage point while indicating ‘unusually large’ hikes may be appropriate in future meetings; Bitcoin’s price jumps.
Bitcoin price reacted little to the Fed’s confirmation of additional rates increases during 2016. Half the market is passively accumulating via limit orders placed just below price, the other half is actively selling at market. In their announcement yesterday, the Federal Open Market Committee retained the target range for the federal funds rate at between 0.25% and 0.5%. The average of policy makers’ new “dot-plots” projects a rate of 0.875% by the end of 2016. The implication is that the Fed will enact two 0.25% rates increases during 2016. The US dollar weakened across the board, on the....
Bitcoin-to-gold exchange Vaultoro has noted a 13% surge in gold trading in Japan, which is possibly tied to the central bank’s negative interest rates. Plenty of countries around the world are dealing with financial turmoil, and Japan is no different in that regard. The country is dealing with negative interest rates and expected inflation, which makes....
Precious metal markets have shuddered during the last few weeks, as gold’s price per ounce nears a six-week low hovering just under $1,700 per unit. Silver crashed through the $18 range slipping to $17.80 per ounce. While both gold and silver dipped between 0.85% to 0.89% against the U.S. dollar in 24 hours, platinum dropped 2.82% and palladium shed 4.18% against the USD during the last day.
Despite Scorching Global Inflation, Gold Hasn’t Been a Safe Haven in 2022
While the entire world is suffering from red-hot inflation, many would assume that the world’s....