Bitcoin Price Prediction as Federal Reserve Interest Rate Decision Announced
During the European session, the Bitcoin price prediction remains bullish following the Federal Reserve's interest rate decision. After three consecutive "jumbo" rate hikes of 0. 75 percentage points each, the Federal Reserve finally announced another rate increase on Wednesday, this one a full 0. 75 percentage points higher in an effort to slow inflation. While a rise in interest rates can reduce inflation by discouraging consumers from taking on new debt, it will also increase the debt service payments of Americans who are already struggling to keep up with the rising cost of living, which includes food, clothing, and shelter. Consumer Price Index numbers show that year-over-year inflation has remained persistently high, falling from a June high of 9.1% to 8.2% as of September. That's far more than the 2% inflation target set by the government. Bitcoin Price Prediction – How High Can BTC Go as it Pumps Past $20,000? With a 24-hour trading v...