FED interest rates and BTC
FED has on the 22 of september that from november of this year onwards it will no longer inject as much liquidity into the market as it used to do, and it also announced that it will raise interest rates sooner than expected, further increasing the demand for US dollars, and theoretically reducing the price of bitcoin. The interest rates hikes will start on 2023, further impacting the price of bitcoin.
This only shows the high likelihood of decline in bitcoin prices in the future, but, right now, it could still try to rise to higher levels, and in the low probability that the FED managed to create inertial inflation, an even more agressive rise in prices in the future.
The objective of this idea in the end is to warn people that a change in fundamentals just happened, and that it will most likely negatively affect bitcoin prices.
In technical terms, it broke the uptrend that it formed from the corona crash, and could try to find support in the 2015 uptrend, but i would not want to see the 38k level broken, much less the 30k level broke, a break in the 30k level would unequivocally indicate the start of a bear market, and one that could last years like the 2017 bear market.
This only shows the high likelihood of decline in bitcoin prices in the future, but, right now, it could still try to rise to higher levels, and in the low probability that the FED managed to create inertial inflation, an even more agressive rise in prices in the future.
The objective of this idea in the end is to warn people that a change in fundamentals just happened, and that it will most likely negatively affect bitcoin prices.
In technical terms, it broke the uptrend that it formed from the corona crash, and could try to find support in the 2015 uptrend, but i would not want to see the 38k level broken, much less the 30k level broke, a break in the 30k level would unequivocally indicate the start of a bear market, and one that could last years like the 2017 bear market.
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