Bitcoin cost has shown no greeting to yesterday’s Fed rates announcement. Price binds above vicious support.
Bitcoin Price Analysis
Time of analysis: 12h00 UTC Thursday
Bitstamp 1-Hour Candle Chart
From a research pages of xbt.social, progressing today:
No manifest greeting to a approaching Fed rates check is nonetheless manifest in a chart. Gold and a USD forex pairs responded to a news immediately but, as discussed dual days ago, a bitcoin marketplace infrequently reacts early, and infrequently late, to emergent new marketplace scenarios.
What a Fed are, essentially, observant by loitering a rate boost is that they have concerns about a strength of a domestic US economy – no change from their prior stance. This can be interpreted as softly bullish for bitcoin cost given it implies ongoing tellurian mercantile slowdown, stability US dollar debility and concentration on money charge by investors. Hence, bitcoin stays appealing as a store of wealth.