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Analysts Predict Bitcoin Rally After the Fed Meeting -Breaking

by Mike Robinson

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Analysis: Analysts predict a rally for Bitcoin after the Fed Meeting

The outcome of the Wednesday December 15 Federal Reserve meeting is still awaited by the stock and cryptocurrency markets.

After reviewing the November 2021 report by President Joe Biden, the Fed will likely provide economic forecasts updated.

What Will You Do?

According to Jigar Trivedi, a commodities analyst at Anand Rathi Shares, investors are in what he describes as a “wait-and-watch mode” on the Fed outcome on the December 15 meeting. Trivedi believes Bitcoin will rally once the minutes of the meeting have been announced.

Analyst Michael van de Poppe expects a similar scenario. Poppe stated that rumours should be sold and news bought. He tweeted earlier;

ZEN agrees with this opinion after analyzing the Bitfinex BTC orderbook. ZEN explained that retail investors had sold into the lows, and it “feels like we’re going to get a buy the news event.”

The consensus is that Bitcoin will soon reach $100k. However, deferring views about the date when Bitcoin will achieve this milestone have been common, made worse due to the low performance of the cryptocurrency market.

To The Flipside

  • There was a possibility that the Fed might tighten its policy. The prospect of the Fed tightening its policies has already led to a modest correction in traditional markets.

Why you should care

Reports released by Fed might determine the price direction Bitcoin (BTC), possibly over the coming weeks.

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