The bitcoin course goes on the chart sideways. It’s just that a key day is ahead of us. On July 30, the Fed will make an important decision!
Bitcoin course close to breaking?
The price of bitcoin so far remains around USD 118,000. The market is waiting for a breakthrough.
What breakthrough is we talking about? There are many indications that investors are waiting for the Fed’s decision. The US Central Bank authorities will meet again on July 30 and then they will decide on interest rates. If they lower them, another wave of growth will begin.
Only that, as follows from the Fed Watch Tool, Jerome Powell and his colleagues will rather leave your feet at current levels, i.e. in the range of 4.25-4.5%. The breakthrough is to take place, but only on September 17, when the Fed is to make a cut of 25 PB.
By the end of the year, the feet will drop to 3.75-4%. This is in line with the last data minutes Fedu, which shows that the central bank is to make two discounts this year.
We have important political decisions ahead of us
In addition, negotiations of the US authorities with individual countries are underway. Currently, Americans are talking to the European Union – the goal is to develop a new trade agreement. As I have already suggested at Bitcoin.pl, the final ending of trade friction should translate into stronger boiling in the markets.
In addition, investors are waiting for Donald Trump to announce the name of Jerome Powell’s successor. There are many indications that someone close to the US President will be the new president of the Fed. This means that the central bank’s policy will begin to coincide with what the White House wants to achieve. In practice, it will give us a series of more aggressive cuts.
Ether takes capital from Bitcoin
Let’s go back to the valuations of cryptocurrencies. There are also many indications that capital is slowly escaping from Bitcoin to the Ethereum plot. ETH/BTC stays around 0.032, and Ether’s dominance on the market fights for a 12%puncture. This may mean that the beginning of Altcoin Season is approaching, it will not be the end of btc bull market, but the main cryptocurrency may be more slow.
