📢 Good news for crypto fans! The US Federal Reserve (The Fed) decided not to change its policy interest rate after the FOMC meeting on Wednesday. 🎉
What impact will this have on Bitcoin? The price of Bitcoin didn't change much, only falling 0.17% on that day. 😎
Following are the important points from the Fed's announcement:
- The target federal funds rate remains 5-1/4 to 5-1/2 percent.
- Job growth slows, but remains high.
- Inflation is still above target.
Market predictions:
- The Fed's interest rate is likely to remain flat until the end of the year.
- Potential interest rate cut starting at the end of 2024.
What about the stock and crypto markets?
- Stock market growth could be "strong" until the end of 2023, even without interest rate cuts.
- Crypto prices are linked to the stock market, especially in the context of interest rate decisions.
However, crypto market analyst TXMC warns of a recession in 2024 due to tight credit conditions, which could be bad for stocks and Bitcoin.
Come on, discuss in the comments column! Are you optimistic about the crypto market in the future? 🚀
