Cryptocurrencies Price Prediction: Bitcoin, UniSwap & Cryptos – American Wrap 05 July
FOMC minutes indicate that a “mild” recession is likely in 2023; Bitcoin price stays put at $30,500
The Federal Open Market Committee (FOMC), during their last meeting on June 13-14, decided to pause hiking rates after ten consecutive raises. The decision was taken partly out of concern for tightening credit conditions and to wait and see the effect of past policy measures. Despite the pause, the minutes show most members foresee the need for at least one more rate hike before the Fed is ‘done’
Uniswap, the token of one of the largest decentralized exchanges (DEXs) in the crypto ecosystem, is likely gearing for a recovery in its price. The DEX has observed a large spike in trade volume since Tuesday and successfully processed a total of 200 million unique transactions.
Valkyrie, an asset management firm, was among the first few applicants for a spot Bitcoin exchange-traded fund (ETF) last month. These applicants included the likes of BlackRock, the biggest asset manager in the world, as well as Fidelity and many more. However, the US Securities and Exchange Commission (SEC) came down on the applicants, virtually rejecting them.
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