#Binance has recently posted an article discussing the upcoming FOMC (Federal Open Market Committee) meeting scheduled for September 17-18, 2024.
Here's what to watch and how it could affect crypto:
- Possible Rate Cuts: Betting markets see a 70% chance of a 0.25% cut and a 29% chance of a bigger cut of 0.50% or more.
- Impact on Crypto: Lower rates can be good for riskier assets like Bitcoin, which jumped 375% between February 2020 and February 2022 when rates were near zero.
- Weaker Dollar: Lower rates could weaken the US dollar, making cryptocurrencies more attractive as an alternative.
- Bitcoin Halving Effect: The recent Bitcoin halving in April could drive prices up, based on patterns seen 6-18 months after past halvings.
- Seasonal Trends: Crypto prices often dip in September but pick up in October, which could be boosted by the expected rate cuts.
While many believe rate cuts could help crypto prices rise, others think the good news might already be reflected in current prices.
How big the rate cuts are could also affect whether fears of a recession hold back gains.
Keep an eye on how this key event plays out!
