The Fed Holds Interest Rates, How Are Crypto Market And Bitcoin Projections?

JAKARTA - In the early hours of Thursday, September 21, the United States Central Bank or the Fed decided to maintain the benchmark interest rate at 5.25 - 5.5 percent.

According to Tokocrypto Trader, Fyqieh Fachrur, the Fed's move was highly anticipated by the market. However, the Fed advises to remain cautious about the future of inflation.

Fed chairman Jerome Powell said in his post-policy statement that another interest rate hike at the end of this year is still possible, so this 'traffic' is not too happy for crypto market players.

"BTC's price action was experiencing anxiety when the decision was taken, but slowly remained stable," Fyqieh said in a statement received in Jakarta.

"Proyeksi tingkat suku bunga yang lebih tinggi untuk jangka waktu yang lebih lama membawakan aset-asset berisiko. Sehingga jelas yang diberikan oleh The Fed ini tidak terlalu menyambangkan bagi pelaku pasar, terlebih sesuai dengan proyeksi sebelumnya," tambahnya.

The fate of Bitcoin

According to Fyqieh, the Fed's latest policy announcement in general does not appear to have much impact on sentiment in the crypto market and Bitcoin.

"Furthermore, Bitcoin may not experience a rapid and significant increase in the near future. Its movement is likely to remain slow, and market liquidity may decline," he explained.

On the other hand, altcoins still have a chance to perform well, especially as investors are looking for more attractive investment opportunities in high interest rates.

"Thus, while the Fed's policies may not destroy crypto and Bitcoin markets, there is still uncertainty in the future, especially regarding the tightening of its impact regulations on crypto assets," Fyqieh said.

Fyqieh suggested that market participants would remain vigilant and monitor economic developments and other regulatory policies to take appropriate steps to invest in crypto.