How did the last FOMC meeting affect the price of digital currencies?

3 answers

• Nov 30, 2021 · 3 years ago
  The last FOMC meeting had a significant impact on the price of digital currencies. As the FOMC announced its decision to maintain interest rates, investors interpreted this as a positive sign for the digital currency market. The announcement led to increased confidence among investors, resulting in a surge in demand for digital currencies. Consequently, the price of digital currencies experienced a notable increase in the days following the FOMC meeting.
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• Nov 30, 2021 · 3 years ago
  Well, let me break it down for you. The FOMC meeting, which is a gathering of the Federal Reserve officials, plays a crucial role in shaping monetary policy in the United States. When the FOMC decides to keep interest rates unchanged, it sends a signal to the market that the central bank is not planning to tighten monetary policy. This news is generally seen as favorable for digital currencies, as it suggests that borrowing costs will remain low, making them an attractive investment option. Therefore, the last FOMC meeting likely contributed to the rise in digital currency prices.
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• Nov 30, 2021 · 3 years ago
  From BYDFi's perspective, the last FOMC meeting had a positive impact on the price of digital currencies. As a leading digital currency exchange, we observed a surge in trading volume and a significant increase in the price of various digital assets following the meeting. The FOMC's decision to maintain interest rates at current levels provided reassurance to investors and signaled a favorable environment for digital currencies. This led to increased demand and upward price movement in the digital currency market.
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