Bitcoin Price Still Advancing On The Eve Of Rates Hike
Bitcoin price action is awkward due to hesitancy and frequent profit taking. Yet, price has continued pushing higher all day and we look at the prospects going into tomorrow's Fed Rate announcement. 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: 14h30 UTC. BTCC 1-Hour Chart. From the analysis pages of xbt.social, earlier today: The bitcoin price chart looks to be pushing higher despite tomorrow being a day best spent out of the market.....
Related News
Bitcoin price, like most markets, is crawling into Wednesday’s Federal Open Market Committee rates announcement. The slow rate of progress in the 1hr and 4hr charts is likely to change in the coming 24 hours as a Fed rates announcement looms at 19h00 UTC tomorrow, Wednesday 21 September. Wider market consensus appears to be that the Federal Open Market Committee (FOMC) is unlikely to raise its funds rate tomorrow, and that the Committee will defer a rates hike to December. The announcement should prompt the market to continue advancing toward $680 (Bitstamp) and for price to gain upward....
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....
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....
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.....