When is the FED Meeting? Bitcoin (BTC) Can Make Drastic Moves!

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The upcoming FED meeting has already started to make the crypto currency markets nervous. A few days later, the President Powell he will make explanations and according to the lessons we have learned from the past Bitcoin (BTC) he will price it instantaneously. Now the ban on cryptocurrencies is risky, it has disappeared, but it has become mainstream Bitcoin (BTC) it has become more influenced by the global economic outlook. That is why the statements made by Powell are indirectly crypto currency it also concerns its investors.

When is the FED Meeting?

President Powell He will give a speech on November 2 and 3. There have been signals at past meetings about reducing asset purchases. SEC and THE FED The recent statements made by the presidents were in support of crypto currencies. However, if the tap of the money that will flow to the markets is turned off, this will negatively affect commodity and crypto prices.

Tapering, that is, the issue of reducing asset purchases, is now THE FED it was deciphered among its members. Which will gradually reduce asset purchases THE FED, despite the effects of the pandemic, the market will cut off the hot money it is pumping. The FED, which previously pointed to 2023 as the year for a rate hike, may clarify the net calendar related to this at this meeting.

Bitcoin (BTC) Can Make Drastic Moves!

The previous meeting had been on 21 and 22 September. Bitcoin (BTC) It had fallen as low as $40,600 on the day of the meeting, while making a local peak with $47,000 on September 20. The 17% loss suffered by the price caused serious damage to investors the price did not exceed $ 44,000 until the beginning of November.

And today Bitcoin (BTC Tuesday Monday is critical if we consider that the meeting may have a greater impact on the price in the coming days, as it has moved away from the peak of 67.000 dollars and relaxed to the 60.000 region. Bitcoin (BTC) we can talk about a deeper correction if it becomes permanent below $ 58,000. These losses that BTC will experience may have more critical consequences for altcoins.

We can already say that volatility will be high next week. In order to get through this process with minimal losses, you need to determine your stop zones well. Especially hard surprises may be waiting for margin traders. The point guard whales will also use the meeting opportunity to dominate the price.

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