Analysts forecast Bitcoin increase after Fed meeting
The stock and crypto markets are patiently waiting for the outcome of the Federal Reserve meeting on Wednesday, December 15.
The Fed is expected to provide updated economic outlooks after examining the Biden government’s November 2021 consumer price dynamics report.
Where will bitcoin go?
According to Jigar Trivedi, a commodities analyst at Anand Rathi Shares, investors are in what he calls a “wait mode” on the results of the Fed’s December 15th meeting. Bitcoin will rise after the meeting reports are released.
Analyst Michael van de Poppe predicts a similar scenario. Poppe agreed Sell rumors, buy news. Before that he has tweeted;
ZEN shared the same opinion after analyzing the Bitfinex exchange’s BTC order book. ZEN stated that retail investors have sold to lows and “it feels like we’re getting a buy message”.
There was an almost unanimous consensus that Bitcoin price will hit $ 100,000 as the next stop. However, there have been delayed opinions on when Bitcoin will hit this milestone, which was made worse by the poor performance of the crypto market.
Why should you care?
Reports released by the Fed can determine which direction Bitcoin (BTC) price is likely to head over the next several weeks.