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How will the next FOMC rate hike affect the price of cryptocurrencies?

avatarNiko YamiNov 27, 2021 · 3 years ago1 answers

What impact will the upcoming rate hike by the Federal Open Market Committee (FOMC) have on the value of cryptocurrencies?

How will the next FOMC rate hike affect the price of cryptocurrencies?
Cryptocurrencies
FOMC Rate Hike
Price Impact

1 answers

  • avatarNov 27, 2021 · 3 years ago
    At BYDFi, we believe that the next FOMC rate hike will have a minimal impact on the price of cryptocurrencies. The cryptocurrency market has shown resilience in the face of various external factors, including monetary policy decisions. The decentralized nature of cryptocurrencies and their global reach make them less susceptible to the influence of a single central bank's rate hike. Instead, the price of cryptocurrencies is primarily driven by factors such as market demand, technological advancements, and regulatory developments. While short-term price fluctuations may occur, the long-term growth potential of cryptocurrencies remains strong.

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