TrendsWide
Contact US
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
No Result
View All Result
Home Economie

Bitcoin price prediction amid a hawkish monetary policy environment

by souhaib
September 24, 2021
in Economie
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT


You might also like

‘momentum is continuing into 2022’

Astra Space stock closed down 20% on Monday: here’s why

Ripple, Dogecoin, Litecoin price forecast for February 2022

The Bitcoin (BTC/USD) price is in a tight range as investors reflect on the relatively hawkish environment among the biggest central banks in the world. It is trading at $44,220, which is slightly above this week’s low at $39,620.

Hawkish environment

Bitcoin held steady in a relatively busy week among central bankers. On Wednesday, the Bank of Japan delivered a relatively mild rate decision. It left its interest rates, quantitative easing, and yield curve control program unchanged.


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

On the same day, the Federal Reserve concluded its meeting and sounded relatively hawkish. The Fed decided to leave rates and quantitative easing (QE) policy intact. 

Still, in the accompanying statement, the bank said that it expected that interest rates will rise modestly between 2022 and 2024. It will also start winding down QE purchases in 2022. 

On Thursday, the Bank of England also decided to leave its policy framework intact. The bank decided to leave rates and QE intact but the governor contended that some slight tightening was needed. The bank is now expected to start tapering by December and hike rates in March.

Elsewhere, in Norway, the Norges Bank became the first major central bank to hike interest rates. It boosted its interest rate from 0% to 0.25%. Other central banks that made their decisions this week were the Swiss National Bank (SNB), South Africa Reserve Bank (SARB), and Brazilian central bank. 

Central bank decisions, especially the Federal Reserve and Bank of England, are important for the Bitcoin price. Historically, risky assets like Bitcoin and Ethereum tend to do well in a period of easy money policies.

For example, Bitcoin price did well in 2017 when the Federal Reserve maintained a dovish tone. It then crashed in 2018 when the Fed made four rate hikes. Finally, the price started rebounding in 2019 when the Fed started cutting rates.

Bitcoin price forecast

Bitcoin price

The daily chart shows that the BTC price declined to a low of $39,598 this week. This was a notable price because it was along the highest point on June 15. It then rebounded as investors rushed to buy the dips. 

Still, the price is below the 25-day and 50-day moving averages, meaning that bulls have a lot of work to do. Therefore, in the near term, the price will likely remain under pressure so long as it is below the two moving averages.

Where to buy right now

To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use:

  1. Etoro, trusted by over 13m users worldwide. Register here >
  2. Capital.com, simple, easy to use and regulated. Register here >



Source link

Share this:

  • Twitter
  • Facebook
  • More
  • Pinterest
  • Telegram
  • Email
Share30Tweet19
Previous Post

FTX Token price prediction after the Mercedes F1 deal

Next Post

WNBA playoffs: Astou Ndour gets into the second round of the playoffs with Candace Parker and Kahleah Cooper

souhaib

Recommended For You

‘momentum is continuing into 2022’

by souhaib
February 7, 2022
0

Shares of Chegg Inc (NYSE: CHGG) are up 10% in extended trading on Monday after the student services company said it performed better-than-expected in Q4, despite COVID-19 uncertainty....

Read more

Astra Space stock closed down 20% on Monday: here’s why

by souhaib
February 7, 2022
0

Read more

Ripple, Dogecoin, Litecoin price forecast for February 2022

by souhaib
February 7, 2022
0

The cryptocurrency market is advancing this Monday, and this situation also supports the price of Ripple XRP/USD, Dogecoin DOGE/USD, and Litecoin LTC/USD. Bitcoin is trading above the $44,000...

Read more

Analyst: ‘Apple would be forced into it if Amazon goes after Peloton’

by souhaib
February 7, 2022
0

Read more

Should I buy Uber shares in February 2022?

by souhaib
February 7, 2022
0

Uber Technologies, Inc. (NYSE: UBER) will announce fourth-quarter earnings results this Wednesday, February 09, after the market closes. Uber shares have weakened more than 10% since the beginning...

Read more
Next Post

WNBA playoffs: Astou Ndour gets into the second round of the playoffs with Candace Parker and Kahleah Cooper

No Result
View All Result

Recent Posts

  • The cryptoactive firm Bit2Me starts a tour to explain the blockchain By EFE
  • Josh Duggar sentenced to 12 years in prison for child pornography
  • #AMLOTrackingPoll Approval of AMLO, May 26
  • Did the Shafi’i jurists say that it is permissible to pray for an infidel after his death? | opinions
  • Aggressor warned that he was going to rob a school: Texas governor

Browse by Category

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Categories

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Pages

  • Contact US
  • Newsletter
  • Privacy Policy
  • Terms & Conditions

© 2021 - TrendsWide

No Result
View All Result
  • Home
  • Contact US
  • Privacy Policy
  • Trending
  • U.S.
  • Economie
  • Deals
  • Reviews
  • Cryptocurrency
  • Health
  • Life Style
  • NBA

© 2021 - TrendsWide

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.