Bitcoin, Ethereum, Dogecoin Plummet As FOMC Minutes Reveal Agreement On Rate Hike: Analyst Predicts 2024-2025 As Golden Era For Apex Crypto
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced a decline following the release of the minutes from the September Federal Open Market Committee meeting. The minutes revealed that a majority of committee members anticipate at least one more rate hike during this cycle. The global crypto market cap currently stands at $1.06 trillion, reflecting a decrease of 1.39% in the past 24 hours. Stocks made modest gains on Wednesday as investors awaited the release of new U.S. consumer inflation data.
October 12, 2023 | 2:47 am
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NEGATIVE IMPACT
Bitcoin experienced a decline following the release of the FOMC meeting minutes. Crypto analyst Michael Van de Poppe suggests Bitcoin is entering a zone where potential longs may arise.
The anticipation of a rate hike as revealed in the FOMC meeting minutes has led to a decline in Bitcoin. However, analyst Michael Van de Poppe suggests that this could be a potential zone for longs to arise, indicating a possible future increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Dogecoin experienced a decline following the release of the FOMC meeting minutes.
The anticipation of a rate hike as revealed in the FOMC meeting minutes has led to a decline in Dogecoin.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ethereum experienced a decline following the release of the FOMC meeting minutes.
The anticipation of a rate hike as revealed in the FOMC meeting minutes has led to a decline in Ethereum.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100