The U.S. Federal Reserve may raise interest rates by 0.75%.
Most participants in trading futures contracts on the federal funds rate believe today that tomorrow the U.S. Federal Open Market Committee at its scheduled meeting will decide to raise the interest rate level by 0.75%, according to data from the Chicago-based CME Group exchange.
On Sept. 19, the cryptocurrency market again lost a total capitalization of one trillion dollars, and the price of bitcoin was behind the $20,000 level, trading at $19,300 in the first half of Sept. 20 and showing a daily rebound of 4.7%. Indeed, on Sunday, September 18, bitcoin was momentarily even going below the $19,000 level.
Amsterdam Stock Exchange trader Michael van de Poppe believes that if the U.S. Federal Reserve does not raise rate rise steps above 0.75%, the cryptocurrency market will receive positive momentum.
Meanwhile, bitcoin’s gradual accumulation in the market continues, with the number of addresses with balance of 1 BTC and more than 900 thousand on September 19. Famous entrepreneur Robert Kiyosaki once again expressed doubts about the prospects of the US dollar, saying that he continues to invest in gold and bitcoins.
A broader perspective also provides a different perspective on the current bitcoin bear market. Over the past two years the price of bitcoin has risen 80%, and over the past four years it has risen 195%. Looking at the total of the last six and eight years, investments in bitcoin during that time have given investors a return of 3183% and 4553%, respectively. Meanwhile, bitcoin has significant drawdowns in price movements.
For example, DataDash founder Nicholas Merten believes that the “bottom” in bitcoin price in this cycle will be near the $14,000 mark, which would mean a correction of -80% and would be in line with the decline in bitcoin prices that have been seen in other periods of “bearish” phases of the market conditions of this cryptocurrency.