The Federal Reserve is expected to hold interest rates this month, but a surprise cut could help drive Bitcoin to a fresh peak, says CMC Markets’ Carlo Pruscino.
The US Federal Reserve cutting interest rates earlier than the market expects could drive Bitcoin back up toward $112,000, says a market analyst.
“When these two further rate cuts come, if they’re coming a lot sooner than expected, that will then impact heavily on the future price moves or crypto on Bitcoin and some other cryptos as well,” CMC Markets market analyst Carlo Pruscino told Cointelegraph.
“The upside target that traders have in mind is $112,000 for Bitcoin, that is the psychological level,” Pruscino said.
