Tokocrypto: FOMC's Decision To Be Fresh Wind For Crypto Traders

Illustration of crypto assets (photo: Unsplash)

JAKARTA - The Fed's Federal Open Market Committee (FOMC) recently decided to maintain the range of targets for the federal fund rate (FFR) at the level of 5.25 - 5.5 percent.

Tokocrypto trader Fyqieh Fachrur said the results of the meeting created a wave of optimism in the crypto market, which resulted in a significant price increase overall, especially Bitcoin (BTC) and Ethereum (ETH).

Fyqieh also interpreted the statement as a dovish and bullish stance by the crypto market. After that decision, the price of Bitcoin seemed to soar again above US$67,000, while Ethereum (ETH) rose above $3,500 (Rp).

"What's interesting is that this price increase seems to be driven by spot market trade demand. Data on BTC spot inflows can also confirm the increasing BTC demand," Fyqieh said in a statement received on VOI Thursday, March 21.

With current market conditions, Fyqieh argues that this is the right time to consider investment strategies, such as Dollar Cost Averaging (DCA), to collect BTC or ETH at a more affordable price, before the market moves up faster.

"This strategy can be very profitable as we enter the next quarter with the hope of more conducive market conditions," he continued.

Because according to him, ahead of the halling event, the price of BTC will be more volatile, so traders must be careful to benefit from significant price fluctuations.

Fyqieh continued, a dovish statement from FOMC has also provided fresh air for crypto markets, especially for BTC and ETH.

"With very positive market reactions and smart investment strategies, crypto investors have a unique opportunity to optimize their portfolio amid the uncertainty of the global economy," he concluded.