Bitcoin Price Droops After Rates Hike Rally No-Show
Bitcoin price was massaged lower in the week leading up to the Fed rates hike announcement, and then eagerly traded up on the day. The chart technicals implied a bull trap and the sound of a can being kicked was its closing bell. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 15h23 UTC. OKCoin 3Month Futures 15-Minute Chart. From the analysis pages of xbt.social, earlier today: The Fed has declined their new unregulated shadow bank....
Related News
Bitcoin price sold-off from $470 (Bitstamp) and 3100 CNY earlier today. A Fed rates announcement is widely expected to catalyze global market trends later on Wednesday, yet the bitcoin market just took profit, for good measure, before the Fed even spoke. A Federal Open Market Committee (FOMC) at 19h00 UTC today will make a rates announcement, and the market generally expects the Fed to refrain from hiking today and to do so in July instead. Today’s analysis outlook had remained unchanged since yesterday. Price action was animated below resistance and a continuing rally seemed more and more....
The chorus of market crash predictions grows ever louder. The Fed pauses its funds rate hike and Bitcoin emulates gold’s rally just as gold hits an interim high. Oil price lows may force Saudi Arabia to devalue the Saudi Riyal. Amidst growing fears of a return to recession, world markets are reflecting the shift in sentiment, and interesting price chart pictures appear. GEO has maintained, since mid-2015, that the shift to recession and deflation was already underway. Now we see the telltale signs in the charts. The free money that had levitated US stock markets since 2009 has been....
The United States Federal Reserve is tightening, and interest rates hike has heavily impacted on the crypto market. Earlier this month, Bloomberg Analyst McGlone said Bitcoin would outperform traditional stocks as interest rates hike. However, to this point, Bitcoin does not seem to follow Bloomberg’s predicted trend. As a matter of fact, despite Bloomberg’s bullish standpoint, Bitcoin and other cryptocurrencies are still in a crash. For example, BTC and ETH dropped by 2% after the Fed’s announcement and bounced back. But have now crashed again. BTC is currently trading below....
A recent hike in prices of petroleum products in Nigeria may increase Bitcoin adoption for cross border transactions and other uses such as for safekeeping and investments. Compounded by rising foreign exchange rates for imports, the hike is likely to have a transparent effect on inflation which already hit a 46-month high of 12.8% in March. Bitcoin adoption grows. There has been a growing level of Bitcoin adoption in Africa's largest economy of late though. The level of awareness about the digital currency’s uses have improved particularly for trading and online purchases. It would seem....
Polls suggest that the Fed is likely to raise rates by 75 basis points as Bitcoin price clings to $19,000. Bitcoin (BTC) underwent a weak rebound on Sep. 21, and the U.S. dollar jumped to a new yearly high as investors await today's Federal Open Market Committee's interest rate decision.BTC price hold $19K ahead of Fed decisionBTC's price has managed to cling on to $19,000 with a modest daily gain of 1.33% . Meanwhile, the U.S. dollar index (DXY), which measures the greenback's strength versus a pool of top foreign currencies, rose to 110.86, the highest level in twenty years.BTC/USD vs.....