How the Federal Reserve's November rate cut meeting could impact Bitcoin
fed rate cut in September, Bitcoin has resumed its upward momentum to match its pre-halving movement. As a risk-driven derivative, Bitcoin’s recent traction has partly been fueled by the interest rate cuts by the Federal Reserve, but also similar initiatives by central banks around the world.
However, November will be a crucial month for Bitcoin enthusiasts worldwide, as recent prominent polls have revealed that the Federal Reserve is expected to introduce once again an economic stimulus of a .25% interest cut — taking it to 4.5% from 4.75%.
As per leading economists, the move by the Federal Reserve is an appropriate reaction to the gradually lowering inflation and slowed US job market. However, it is largely expected to be only a 25 basis point interest cut compared to the previously believed 50 bps, as governmental reports have revealed that the US inflation has been reduced near the central bank’s aim of 2%. The FOMC meeting where the rate cut is to be announced will take place on November 6-7, beginning only 24 hours after the much anticipated US Presidential Election and as a combined force — the impact of this could shape Bitcoin’s future.
Top Fed officials have maintained that the timing and measures of the rate cut will
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