The results of the last meeting of the US Federal Reserve led to a strong growth in financial markets, not leaving aside digital currencies, increasing their capitalization by 3.5%. The agency’s actions coincided with negative expectations of investors in terms of a double cut in the QE economic stimulus program and plans to increase the discount rate next year.
The signal to buy risky assets was given by the speech of the head of the Fed, Jerome Powell, who for the first time recognized the problem of inflation and expressed his readiness to adequately combat this phenomenon, as well as the mention of cryptocurrencies in his speech.
Powell promised investors to return consumer price growth to 2% within one year, leaving the discount rate below this threshold. Despite criticism of cryptocurrencies in his speech, the country’s chief financier publicly acknowledged the benefits of stablecoins when properly regulating the circulation of these tokens.
Yesterday’s growth strengthened the position of the bulls, with another confident bounce of quotations from the line of the key indicator MA (200), but indicated the problem of low activity of traders. Volatility indicators in the “basement” of the chart came close to the red line of average values; a fall below would “freeze” the growing medium-term trend, leaving a signal for a short-term fall in force.
Buyers can come to cryptocurrencies after the three central bank meetings scheduled for today. The monetary policy of the ECB, which is planning additional support for the markets, could support Bitcoin’s growth if the Bank of England does not raise rates at the end of the year.
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