Things, or rather the direction that the price action of the cryptocurrency market will take is still uncertain, however, as of today the countdown to define what direction the price action of cryptocurrencies will take is about to begin, this after the FED meeting.
As we all know, the Federal Reserve of the United States will have to define internally what will be the strategy to follow to continue trying to stabilize inflation, it is known that this coming Wednesday they will meet and it is expected that after the decision they make will change or define what will be the direction of the price of Bitcoin and cryptocurrencies.
In this regard and according to information disclosed on the "Cronista" platform, although the decision will be announced on Wednesday, some analysts have already anticipated a pause in the increases, which would bring relief to the crypto ecosystem after the repeated blows of regulators against the main exchange platforms.
Recall that the SEC lashed out against Binance and Coinbase, an element that may aggravate the deteriorating downward situation that in the last two weeks has impacted the price action of the entire cryptocurrency market.
However, in the event of a scenario where a new interest rate hike is announced by the FED, which added to the Binance and Coinbase cases, there is no doubt that the most likely scenario is that we will see a downward price action reversal.
Finally, at the time of writing, the most relevant major cryptocurrency in the market is trading around $25,975, which is up 0.2% in 24 hours, something that is not surprising as it is most likely that before the FED meeting the market will try to consolidate a zone that will allow it to absorb any unfavorable decision.
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SOURCES CONSULTED
Cronista. Wednesday changes everything for Bitcoin and crypto: the decision that will hit all prices. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: Cronista
