Bitcoin Price Outlook for October — Strong Dollar and Fed Rate Hike Gives Bea...
Ten days into October, and ahead of this Wednesday’s U.S. inflation report, bitcoin prices fell to a one-week low. Prices of the world’s leading crypto asset were mostly in the red during September, trading below $20,000 for the majority of the month. As of writing, bitcoin continues to hover at these lows, with many traders wondering whether we will see any significant surge this month. Current Market Status Last week U.S. non-farm payrolls showed that 263,000 jobs were added to the U.S. economy in September, better than the 250,000 markets had expected. ....
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While precious metals, stocks, and cryptocurrencies saw a significant downturn this week, the U.S. dollar tapped a 20-year high against the Japanese yen and a number of other currencies. The greenback has seen five weeks of consecutive gains following the Federal Reserve’s 50 basis point rate hike on Wednesday.
Greenback Climbs Higher Amid Economic Uncertainty
Before the U.S. central bank’s rate hike, the U.S. dollar tapped a two-year high and a 20-year high against the Japanese yen last week. Economic concerns are tied to the ongoing and strict Covid-19 lockdowns....
Bitcoin has rallied roughly 7% in June on the back of strong momentum buying and continues to target higher valuations. The cryptocurrency has registered the breakout that we all have been waiting for, and that may cause immense trouble to the short-sellers. However, one interesting observation is that Bitcoin humbled the extreme selling pressure on the eve of US Fed's meeting which is expected to dole out important clues regarding the timing of the much-anticipated interest rate hike. Why Does Interest Rate Concern Bitcoin? Interest rates concern all aspects of the economy, including the....
With another Fed funds rate announcement due, today, 28 October, market uncertainty in anticipation of a rates hike "lift-off" is rising. Today's GEO looks at the implications of a rates increase for the US dollar and the dynamics the Fed's indecision to commit to a "lift-off" date. This post is powered by the Bitcoin Trading Network xbt.social - CCN29 and get 29USD off! Economic Indicators. World Indexes and Forex Rates. Commodities. In the Calendar This Week. Mon 26 October. New Zealand Trade Balance (actual:-1222M expected:-822M previous:-1079M). Tue 27 October. UK Prelim GDP....
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.....
Bitcoin price might be in for a sharp drop, pending a break below the head and shoulders neckline and the impact of the FOMC statement on dollar trends. In particular, the upcoming FOMC statement could be crucial in setting the tone for financial market trends. No actual monetary policy changes are expected for now since the Fed just hiked rates in December and reiterated that they would tighten at a gradual pace. Still, the outlook for their future policy changes could have an impact on dollar movements this week, as an inclination for hiking rates again this March might lead to strong....