Important Bitcoin Price Update:
As i have mentioned on my previous post that Bitcoin price going up due to FED decrease rates by 5% and we have some good news that more 5% cut rates are expected and we all know that how it was important for Crypto market. I have share some updates...
The current Bitcoin price is around $61,715, and it's up by 3% in the last 24 hours. For today, the price range is predicted to be between $58,847 and $67,705, with an average price of $63,276.
Today's Price Range in between 58k - 65k zone.
The predicted price for tomorrow is $62,950, which is a 2% gain from the recent price.
Long-term Forecast:
For 2024, the minimum cost of Bitcoin is predicted to be $56,996.50, while the maximum level could reach $71,414.20, with an average trading price of $85,831.90.
A Federal Reserve (FED) rate cut typically has both immediate and long-term impacts on the crypto and stock markets.
Stock Market:
1. Increased liquidity: Lower interest rates make borrowing cheaper, boosting economic activity.
2. Stock price increase: Lower borrowing costs and increased consumer spending can drive up stock prices.
3. Sector-specific benefits: Rate cuts tend to favor sectors like technology, consumer goods, and finance.
Crypto Market:
1. Increased institutional investment: Lower interest rates make traditional assets less attractive, driving investors to alternative assets like cryptocurrencies.
2. Bitcoin as a safe-haven asset: Rate cuts can lead to economic uncertainty, increasing demand for perceived safe-haven assets like Bitcoin.
3. Increased liquidity: Lower interest rates can boost crypto market liquidity.
Look at price chart that shos some thing more that BTC going more upish today.
#Token2049 #USRetailSalesRise #FedRateDecisions #BTCâ #BULLishWithBULL
