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Bitcoin FOMC Meeting November 2022 Live Updates: As the crypto market awaits the U.S. Federal Reserve FOMC meeting on policy decision, Bitcoin (BTC) is currently displaying sideways movement. The Fed is more likely to go for yet another 0.75% interest rate hike than approving a 0.50% rise.
In the last one week, the cryptocurrency market has been on a bullish momentum in an otherwise bearish crypto cycle. Elon Musk‘s official taking over of social media platform Twitter led to huge rise in Dogecoin (DOGE) price. The top memecoin is up by nearly 100% compared to 7 days ago.
As of writing, BTC price stands at $20,431, almost flat at 0.30% rise in the last 24 hours, according to price tracking platform CoinMarketCap. The crypto market is looking at how Bitcoin price will react to the outcome of the FOMC meeting.
Binance CEO On Twitter Board
Binance CEO CZ on Wednesday said he would join Twitter board if Elon Musk invites. The crypto exchange invested around $500 million in the takeover deal.
Bitcoin Price Dump Or Jump?
Polular opinion is that BTC will drop if Fed announces 0.75% rate hike. Sheldon, a crypto trader, feels BTC price could drop for a day or two to $19,700 range before regaining momentum.
