Bitcoin Faces Key Test With Fed Announcement Tomorrow

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With the Fed’s decision looming over the markets, how will Bitcoin react tomorrow?

The next Federal Reserve (Fed) interest rate decision is due on Wednesday, June 18th, at 2:00 PM Eastern Time.

The cryptocurrency market, akin to that of legacy stocks, is largely correlated with the US fiscal policy and any news other than the expected are likely to have an impact.

The FOMC Meeting June 17-18
The US Federal Reserve will meet today and tomorrow and markets are expecting critical policy statements regarding the institution’s fiscal stance.

Experts seem to be of the opinion that the Fed will hold interest rates steady, despite the mounting political pressure against Chairman Jerome Powell.

Recall that acting president Donald Trump launched a wave of recent attacks, stating on multiple occasions that an interest rate cut is long overdue, citing ECB’s decision to lower rates recently (yet again).


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