Bitcoin Ethereum Price Prediction: Will FOMC Bring Another Fall?
Will the upcoming FOMC meeting trigger another downturn in the crypto market? Investors are anxiously watching Bitcoin (BTC) and Ethereum (ETH) as the Federal Open Market Committee (FOMC) prepares to convene. Recent market activity paints a mixed picture, adding to the uncertainty. Bitcoin (BTC) has dropped 2.2% on the daily chart, while Ethereum (ETH) has fallen by 2.1% in the same time frame as investors await FOMC
Recent Price Movements: Bitcoin price dropped another 0.35% today, ending at $82,579.96. Ethereum also took a hit. It lost 2.52% in one day, dropping from $1,935.77 to $1,886.92. It has since Bitcoin price fluctuated in the $82K to $83K range while Ethereum and XRP recorded a modest 1.5% and 0.4% gain, respectively. The total crypto market cap had also
Ethereum Price Analysis: The upcoming FOMC meeting could determine whether ETH sustains its price above the $1,900 mark or risks a deeper fall. If bearish sentiment prevails post-meeting, Ethereum price likely to revisit $2,200 as the recovery rally hits the wall, potentially leading to further declines. Keep a close watch on the $1,900 support level for Ethereum.
Bitcoin\'s Key Levels: Bitcoin price could rally 10% if it overcomes $43,750 barrier. Could Bitcoin fall below $50,000? The renewed interest in the cryptocurrency market, fueled by the ongoing ETF hype, has been driving the overall momentum of the crypto. All eyes are on the $43,750 resistance. A break above this level could signal a bullish trend, while failure to do so could see Bitcoin retesting lower support levels.
Ripple (XRP) Outlook: Ripple price eyes a 7% fall to bottom.
FOMC\'s Impact: The FOMC meeting is a crucial event that can significantly impact the crypto market. Any hawkish signals from the Fed regarding interest rate hikes or tightening monetary policy could trigger a sell-off, leading to further price drops for Bitcoin and Ethereum. Conversely, dovish signals could provide a much-needed boost.
Disclaimer: This is not financial advice. Cryptocurrency investments are highly volatile and carry significant risk. Always conduct thorough research and consult with a financial advisor before making any investment decisions.