Over the past week, the main cryptocurrencies of the world have noticeably weakened – the cost of Bitcoin has decreased by 4.8%, Ethereum has fallen in price even a little more – by 5.5%. BitRiver analyst Vladislav Antonov predicts that within a few days the cryptocurrency exchange rate may fall even more – it all depends on how the statements of the representatives of the US Federal Reserve System at the next meeting scheduled for May 4 are perceived.
On May 4, the US regulator will announce its interest rate decision. It is expected to rise by 50 basis points to 1%. In general, the May rate increase has already been priced in by the market, but everything will depend on the reaction to the words of Fed Chairman Jerome Powell.
BitRiver financial analyst Vladislav Antonov believes that if the S&P500 and Nasdaq indices, with which Bitcoin correlates, collapse after Powell’s words, then buyers will have to retreat to the level of 34.8 thousand dollars for Bitcoin. And while the technical picture indicates an advantage in the direction of sellers.
Source: ixbt
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