How does the countdown to FOMC affect the price of digital currencies?

1 answers

• Nov 26, 2021 · 3 years ago
  During the countdown to FOMC meetings, traders and investors keep a close eye on the digital currency market. At BYDFi, we observe that the market tends to become more volatile as the meetings approach. This volatility is driven by the anticipation and speculation surrounding the FOMC's decisions. Traders look for specific factors such as interest rate changes, inflation outlook, and economic indicators mentioned in the FOMC statements. Any surprises or unexpected shifts in monetary policy can have a significant impact on digital currency prices. The effects of the countdown can vary in duration, but typically last for a few days as the market adjusts to the new information and assesses its implications for the digital currency market.
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