Post
Topic
Board Economics
Re: How the FOMC affects Bitcoin market.
by
meanwords
on 08/05/2023, 10:03:12 UTC
Quote
*How does Bitcoin adjust to the market after this kind of meeting and announcement by the FOMC affects interests rate of fiat and devalues it(Bitcoin) ?

It depends on the announcement of FOMC whether the interest goes down or increases. BTC price usually goes down when the interest goes higher and goes down when interest is lower. Although, I've noticed that it's generally for the short-term, and Bitcoin price either goes a little bit up or down or returns to its original price.

I know a community in my country that lives stream the price of Bitcoin, a few minutes before the announcement of FOMC. It was fun to watch the reaction of people because some would gamble their current month's salary to either win big or go home empty.  Grin