Bitcoin 
$112,960.43 price At the time of writing, it is painted red as befits the Fed evening. The statements Powell will make after hours are much more important than the finalized 25bp interest rate cut. On the other hand, Jelle thinks that BTC will reach the level of 150-170 thousand dollars, according to the model he shared. Here’s what you need to know.
Fed Evening Cryptocurrencies
It is certain that there will be an interest rate cut and the markets expect a discount in December as well. However, due to the government shutdown, we cannot see employment figures and many other economic reports. This situation says that the Fed will make a blind decision, although not to a critical extent. The last inflation report was published exceptionally, but employment figures did not arrive.
Powell With the statements he will make at 21:30, he will confirm whether the dual duty outweighs the employment burden. Some data predict an improvement in employment due to the recovery in the economy. However, the ADP figures we saw before the closure show us the worst employment picture in 4.5 years.
Inflation, on the other hand, is relatively calm and has increased below expectations, paving the way for the Fed to allow a recovery in employment. What Powell will say tonight is very important, as the overwhelming majority of Fed members argue that going further in interest rate cuts will have heavy costs.
It is important for investors to remember the risk in high leverage transactions, as the details in the Fed interest rate decision text and the statements at 21:30 will pave the way for Bitcoin and altcoins to experience significant ups and downs in the short term.
Bitcoin Will Exceed $150,000
At least that’s what Jelle thinks. Gold made its historic rally this year and reached a new record after decades. The pseudonymous cryptocurrency analyst expects BTC to reach the range of 150-170 thousand dollars due to the positive correlation between BTC and Gold, with no major decline in gold and a steady rise continuing.
“Gold And Bitcoin continues to rise sequentially.
Both have shown a gradual upward trend in recent years – with gold recently accelerating and peaking. Will Bitcoin follow the same path? “If the same scenario continues, the target of 150-170 thousand dollars may be in question.”
The irony is that the reason why Gold stopped its rise is that it opened the door to a bullish outcome for cryptocurrencies. The weakening of global tensions and the reconciliation between China and the USA are restraining Gold and leading to an increase in risk markets, including cryptocurrencies. This detail explains why history sometimes does not and will not repeat itself.
