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Cryptocurrencies Price Prediction: Bitcoin, Fed & Cryptos – American Wrap 31 October

Cryptocurrencies Price Prediction: Bitcoin, Fed & Cryptos – American Wrap 31 October
FXStreet TeamFXStreet TeamFXStreet

Bitcoin price is looking at more than just $40,000 if it remains loyal to this historical pattern

Bitcoin price not only has gained significantly over the last couple of weeks but it has also imbued a sense of confidence in the investors owing to a few reasons. These factors include the hype of spot Bitcoin ETF approvals by the Securities & Exchange Commission (SEC), the potential Quantitative Easing, as well as the upcoming halving event. However, what many investors are missing is how their optimism could get crushed.
Bitcoin growth post-halving
Bitcoin price rallied throughout October 2023, marking another profitable month for BTC holders. The upcoming US Federal Reserve interest rate decision has the potential to make or break Bitcoin’s price rally.
CME Fed Watch tool and expectation of interest rate hike
Digital asset manager Valkyrie Investments is the latest firm to amend its spot Bitcoin (BTC $34,525) exchange-traded fund (ETF) filing with United States securities regulators.
 
 

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