The prices of bitcoin and cryptography stabilized after hanging on the edge of another fall yesterday, traders are still in shock from a sudden sale which aroused fears of a “financial crisis”.
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The price of Bitcoin fell sharply to $ 100,000 before rebounding at around $ 102,000, although Bitcoin and Crypto remain moderate despite the director general of BlackRock, Larry Fink, revealing a bomb of the sovereign fund.
Now, as the CEO of Coinbase now predicts when the price of bitcoin could reverse the 18 billions of dollars of Gold, the traders of Bitcoin and Crypto are prepared for the last interest rate of the federal reserve after the US President Donald Trump called on prices to decrease strongly.
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President Donald Trump called on the president of the federal reserve to reduce interest rates by ” … (+)
The market is priced in a certainty of almost 100% that the Federal Open Market Committee of the Fed (FOMC) will hold the pending interest rates, according to the Fedwatch tool of the CME group, after having reduced the rate at each of its last three meetings.
“The current lull (Bitcoin Prize) can be awarded to risk aversion before the Fed meeting,” said Alex Kuptsikevich, chief analyst of the FXPRO, in a note sent by e-mail.
The rate decision will be published Wednesday at 2 p.m., followed by the very important press conference led by the president of the Fed, Jerome Powell, in which journalists will press him for a reaction to the comments of Trump according to which the rates of interest should drop by “many”.
“I think I know the interest rates much better than them, and I think I certainly know them much better than the one who is mainly responsible for making this decision,” said Trump last week.
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The Bitcoin Prize has survived the last year, helped by the Federal Reserve from its … (+)
Last year, the Republican candidate at the time, Trump, said that the American presidents should have his say on the decisions taken by the Fed, which increases the possibility that he can lose his independence.
“We expect (the president of the Fed Powell) to be as diplomatic as possible, while firmly committing to the nourished independence,” wrote Ajay Rajadhyaksha, economist in Barclays, in a note seen by Axios.
“Now that Trump has called in a very vocal way for lower interest rates, if the Fed supports monetary policy, it will give the impression that they have given up and have lost their independence,” told The Isabella Weber, economist at the University of Massachusetts Amherst Financial time.
