The Federal Reserve's interest rate decision today could have a significant impact on Bitcoin's price. Experts warn that the volatility following the announcement at 21:30 GMT on today may be greater than expected. Bitcoin is already under downward pressure after losing its $60,000 support ¹.
Analysts believe the market reaction will depend on whether the interest rate cut is 25 or 50 basis points. A 25 basis point cut, as seen during the pandemic, may lead to cautious investor behavior, potentially pulling Bitcoin and altcoin prices down. CME FedWatch reports a 33% probability of a 25 basis point rate cut and a 67% probability of a 50 basis point cut ¹.
Short-term predictions suggest Bitcoin's price may drop to $50,000 before the Fed's decision. However, medium-term expectations are more optimistic, with potential growth to $92,000 by the end of 2024, considering the last quarters of the year have historically been favorable for cryptocurrencies ¹.
*Price Predictions:*
- Short-term: $50,000
- Medium-term: $92,000 by the end of 2024
- Long-term: $221,485 by 2025 and $369,701 by 2030 ²
*Key Factors Influencing Bitcoin's Price:*
- Interest rate decision by the Federal Reserve
- Market reaction to the rate cut
- Investor risk appetite
- Historical cryptocurrency performance in the last quarters of the year
Keep in mind that these predictions are subject to change and should not be considered investment advice.
