RateCaptain
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Rate Captain
No Result
View All Result
Home Cryptocurrency

Bitcoin briefly dips below $43K amid fears of Fed says rate hike ‘soon appropriate’

Rate Captain by Rate Captain
February 17, 2022
in Cryptocurrency
Reading Time: 2 mins read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The odds are on for a March rate increase after Wednesday’s FOMC minutes, but stocks also fear geopolitical instability this week.

Bitcoin dipped below $43,000 on Feb. 17 as another day on ranging compounded hopes for an incoming breakout.

AlsoRead

Experts predicts the death of Shiba Inu

Central African Bank pushes back on Central African Republic adoption of Bitcoin

Emirates Airlines announced the adoption of Bitcoin as a Payment alternative

Data from showed BTC/USD acting in a slightly widened zone with $44,500 as a ceiling over the past 24 hours.

The pair had returned to the top of its intraday range overnight on the back of United States Federal Reserve comments.

Expected to provide cues about potential interest rate hikes, the Federal Open Market Committee (FOMC) minutes from a meeting in late January ultimately provided few surprises.

A hike could come in March, but no firm commitment was voiced over the process.

“The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run,” an accompanying statement read.

“In support of these goals, the Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent. With inflation well above 2 percent and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate.”

The FOMC added that it was aiming to halt asset purchases altogether in March, in line with previous plans, with February’s purchases due to amount to at least $30 billion.

With little in the way of fresh news, crypto markets were thus uninspiring going into Thursday. Zooming out, however, optimism was still firmly present on the strength of the past two weeks’ BTC price action.

“My bias has changed a bit and now favor a squeeze towards 53k before mid March,” popular trader and analyst Pentoshi said as part of his latest Twitter update.

Others likewise noted the comparatively robust price performance this month compared to previous episodes in Bitcoin’s comedown from all-time highs last November.

By bouncing at near $33,000 in January, for example, a miner capitulation event — where miners are forced to sell or stop mining altogether due to Bitcoin’s spot price being less than their cost of production — was successfully avoided.

 

Previous Post

Breaking: Nigeria’s GDP Grew By 3.98% In 2021 Q4 – NBS

Next Post

Inflation attacks UK’s purchase power

Related News

Experts predicts the death of Shiba Inu

Experts predicts the death of Shiba Inu

by Rate Captain
May 18, 2022
0

It’s a matter of when, not if, we’ll see the death of Shiba Inu, according to the majority of Finder’s...

Central African Bank pushes back on Central African Republic adoption of Bitcoin

Central African Bank pushes back on Central African Republic adoption of Bitcoin

by Rate Captain
May 18, 2022
0

After the Central African Republic recognized Bitcoin as legal tender without consulting its monetary authority, the Central African bank is...

Emirates Airlines announced the adoption of Bitcoin as a Payment alternative

Emirates Airlines announced the adoption of Bitcoin as a Payment alternative

by Rate Captain
May 13, 2022
0

One of the United Arab Emirates (UAE) leading airlines, Emirates Airlines has announced the adoption of Bitcoin as a payment...

CBN Scrambles over Nigeria’s Cryptocurrency Problem

CBN Scrambles over Nigeria’s Cryptocurrency Problem

by Rate Captain
May 13, 2022
0

Nigeria’s Cryptocurrency problem does have the CBN scrambling in recent times as it has been sanctioning banks in an attempt...

Next Post

Inflation attacks UK’s purchase power

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

MOMAN Debunks Rumor of Aviation Fuel Selling at N700 per Litre

Oil Marketers, Airlines reach loggerheads over local Aviation Price

May 20, 2022

Naira Depreciates at all Markets: Naira Hits N610/$1 at B2B Market

May 20, 2022

Popular Story

  • Sterling Bank to face sanctions by APCON over provocative Easter Message “Likening Christ resurrection with Agege Bread”

    Sterling Bank to face sanctions by APCON over provocative Easter Message “Likening Christ resurrection with Agege Bread”

    0 shares
    Share 0 Tweet 0
Rate Captain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.