Fed Expected Not To Raise Interest Rates, BTC Could Soar?

<p>&nbsp;"If it can go up, how far do you think the price can break through?"</p><p><br /></p><p>Christopher Waller, the Governor of the Federal Reserve (Fed) of the United States (US) gave his views on the meeting of the Federal Open Market Committee (FOMC) that will announce the decision to increase interest rates.</p><p><br /></p><p>According to Waller in an interview on Tuesday yesterday, recent economic data could allow the Fed to act more cautiously in determining interest rate hikes.</p><p><br /></p><p>His remarks came shortly after Fed Chairman Jerome Powell warned during his Jackson Hole speech that the US central bank is ready to raise interest rates if they feel the time is right.</p><p><br /></p><p><br /></p><p>Then, Patrick Harker who is the President of the Fed of Philadelphia in an interview with CNBC was reported to doubt that the US central bank will cut interest rate hikes until 2024.</p><p><br /></p><p>However, the upcoming FOMC meeting between September 19 and 20, 2023 may allow cryptocurrency investors to identify whether the Fed will take a dovish or hawkish stance.</p><p><br /></p><p>The string, the interest rate decision will be able to cause the price of BTC to see a significant increase since the latest economic data can allow the Fed to take decisions cautiously.</p><p><br /></p><p>So here it can be seen that Fed officials may keep the current target rate, but it should be noted that many people are very confident that the US central bank will not raise interest rates during the FOMC.</p><p><br /></p><p>As of this writing, BTC price has plunged by 0.02% to $25,786 in the last 24 hours with a market cap of $502 billion and has recorded a 6.39% decline over the past week.</p>