Strong job growth is expected to help bitcoin rise during the Fed rate cut.
Bitcoin is ready for action, but the incipient storm is still brewing.
An unexpected rate cut could send the #cryptocurrency surging.
The Federal Reserve will meet in November and may consider another 25 basis point rate cut; a sharp rise in jobs in September could reignite speculation of a further rate cut, potentially upsetting both traditional financial markets and the cryptocurrency world, and #bitcoin could see a significant rise in the bitcoin exchange rate.
The employment data for September beat expectations with 254,000 new jobs created, well above economists' expectations of 150,000. The latest data also showed that the unemployment rate fell to 4.1%, down from 4.2% in August.
the idea of additional rate cuts is controversial: some argue that easing will benefit the economy, while others warn that further monetary easing may not be necessary given the strength of the labor market. In the cryptocurrency market, this speculation could lead to explosive moves. As a high-risk asset, bitcoin often reacts sharply to signs of monetary policy easing.
the last Fed interest rate cut, bitcoin jumped to around $62,000, gaining momentum as investors rushed to the asset, perceived as a hedge against inflation and currency devaluation. Bitcoin is currently at US$62,250, having risen 1.4 percent over the past day.
If the U. S. Federal Reserve decides to cut interest rates by 25 basis points in November, bitcoin could gain new momentum and surpass its previous all-time high of $73,750. In addition to the Fed's decision, investors are also keeping a close eye on a number of other factors affecting the bitcoin price, including the global economy, inflation expectations and regulatory actions.
Bitcoin could experience both increased volatility and an uptrend, making it less predictable as an investment.
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