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Cryptocurrencies Price Prediction: Bitcoin, Fed & SEC— American Wrap 01 May

Cryptocurrencies Price Prediction: Bitcoin, Fed & SEC— American Wrap 01 May
FXStreet TeamFXStreet TeamFXStreet

Bitcoin price reclaims $59K as Fed leaves rates unchanged

The market was at the edge of its seat on Wednesday to see whether the US Federal Reserve (Fed) would cut interest rates during the Federal Open Market Committee (FOMC) meeting. It came after a flash crash in the cryptocurrency market that saw Bitcoin price dip below $60,000 ahead of the announcement.  
Bitcoin (BTC) price is trading with a bearish bias, recording a steady streak of lower highs as part of a vertical chop. The dump comes ahead of the Federal Open Market Committee (FOMC) decision with markets recording surging volatility.

US Financial Services Committee Chair Patrick McHenry slammed Securities and Exchange Commission (SEC) Chairman Gary Gensler for his stand on Ethereum (ETH). McHenry issued a statement on Tuesday saying there is evidence that shows Gensler “knowingly misled” the Congress on Ethereum’s status. 

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