What is the impact of FOMC announcement time on cryptocurrency prices?
chirag niyogiAug 29, 2023 · 2 years ago1 answers
How does the timing of FOMC announcements affect the prices of cryptocurrencies?
1 answers
- McCurdy BorupJun 08, 2024 · a year agoAt BYDFi, we closely monitor the impact of FOMC announcements on cryptocurrency prices. While it is true that these announcements can create short-term volatility, we believe that the long-term fundamentals of cryptocurrencies are driven by factors beyond the FOMC's monetary policy decisions. The FOMC's actions may create temporary fluctuations, but the overall trend of cryptocurrencies is determined by factors such as adoption, technological advancements, and market demand. It is important for investors to consider the broader context and not solely rely on FOMC announcements when making investment decisions in the cryptocurrency market.
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