D-Day – The US Federal Reserve (FED) has not shaken bitcoin (BTC) although the institution has made decisions that could on paper, allow it to fight more effectively against rising inflation in the United States. The markets even received the news well, setting off again in search of the $ 50,000. These decisions still raise questions about the future of bitcoin without an exceptional asset purchase program from the Fed.
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Bitcoin above $ 49,000: the Fed could have done worse
Bitcoin makes a foray up to $ 46,600 on Bitfinex today, December 15, 2021, before starting a rise above $ 49,000. Bitcoin is trading at $ 49,487 at the time of writing, and is currently registering a 3.3% daily gain.
Bitcoin jumps back above $ 49,000 as the U.S. Federal Reserve announced today at 8 p.m. French time that it was going double the pace of gradual reduction in monthly bond purchases. The FED will reduce these purchases by 30 billion dollars to put an end to its monetary stimulus program at the beginning of 2022. The American benchmark interest rate would for the moment be kept between 0% and 0.25%.
This bullish day seems to indicate that the markets probably expected even more aggressive measures from the EDF.
Bitcoin without coronavirus, what upside?
In the short term, the US Federal Reserve’s decision did not trigger a massive bitcoin liquidation – quite the contrary – considered a safe haven against inflation. The threat of a relapse to $ 40,000 – $ 42,000 is receding despite the institution’s hawkish stance in its fight against inflation.
On a longer timescale, however, will bitcoin be able to reach new all-time highs and maintain relatively high price levels despite the end of the Fed’s asset purchase program scheduled for the first few months? from 2022? Where do the bulls have exceptionally been doped by shutting down the economy due to the covid-19 pandemic, subsequently pushing the Fed to buy around $ 120 billion in bonds per month to stimulate the economy?
The markets can be happy with the reaction of traders and investors today, but nothing is actually played out for bitcoin in the short term as well as in the long term. A lasting recovery of $ 50,000 would convince more of a real start to a bullish recovery.
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