The Federal Open Market Committee (FOMC) is expected to meet today, and this meeting has become critical to the price direction of cryptocurrency.

Ash Crypto discussed the upcoming FOMC release and how it could affect cryptocurrencies. The expert, with more than 1 million followers on X, tagged the upcoming release as the most important news in 4 years.

The top crypto analyst addressed the expectations.

Some Expectations from the Upcoming FOMC Release

Following the economic disruptions that occurred in March 2020, the Federal Reserve is expected to make some major changes by cutting interest rates for the first time since then. A 50 basis point (bps) cut is expected, which is seen as a bullish move for the market.

TODAY IS GONNA BE A BIG DAY TODAY IS THE MOST IMPORTANT FOMC MEETING IN 4 YEARS . HERE'S WHY   AFTER MARCH 2020, THE FED WILL DO ITS FIRST RATE CUT THE MARKET IS EXPECTING A 50 BPS RATE CUT TODAY, WHICH IS VERY BULLISH FOR THE MARKET BUT ALL EYES WILL BE ON…

— Ash Crypto (@Ashcryptoreal) September 18, 2024

The analyst notes that if Chairman Jerome Powell mentions the risks of recession during the meeting, it could affect the market negatively and cause it to dump.

However, if he states that the economy is stable and talks about aggressive rate cuts, we will likely see a significant rally in the crypto market.

Some major banks are already projecting 1% to 1.25% rate cuts in 2024, which suggests that the Fed may be easing its monetary policy.

Read Also: This Solana Metric Hits New ATH, But Where’s SOL Price Headed Next?

Celebrate Dogecoin and Make Big Gains with Doge2014!

Doge2014 raises 300K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!

Show more +Show less –

More money is expected to flow into Bitcoin and other cryptocurrencies that are considered high-risk, which could boost their prices.

All these factors are expected to boost the prices of crypto, making the top crypto analyst very confident that Q4 is going to be very bullish as everything is aligning perfectly.

Read Also: Nervos Network (CKB) Price Pumps Over 100%, But Is The Party Over Yet?

Bitcoin Price Bottoms Out as Analyst Eyes Key Target

Adding to the top analyst’s bullish outlook is the analysis of crypto bull runs that have occurred in the past. On September 17, Ash Crypto posted a chart suggesting that Bitcoin’s price has been following similar patterns as it did in the second and third bull runs. 

As this pattern continues, their analysis projects the price bouncing to around $100,000 to $150,000. The top analyst is confident that the price of BTC has bottomed out and a strong bullish move is coming.

Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group.

We recommend eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.

The post Top Analyst Eyes Key Bitcoin (BTC) Price Target as the ‘Most Important News in 4 Years’ Could Go Live Today appeared first on CaptainAltcoin.