How will the next FOMC rate hike affect the price of cryptocurrencies?

1 answers

• Pranav KunalFeb 03, 2021 · 4 years ago
  At BYDFi, we believe that the next FOMC rate hike will have a minimal impact on the price of cryptocurrencies. The cryptocurrency market has shown resilience in the face of various external factors, including monetary policy decisions. The decentralized nature of cryptocurrencies and their global reach make them less susceptible to the influence of a single central bank's rate hike. Instead, the price of cryptocurrencies is primarily driven by factors such as market demand, technological advancements, and regulatory developments. While short-term price fluctuations may occur, the long-term growth potential of cryptocurrencies remains strong.
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