"Do you think the price of BTC will rise or plummet after the Fed's decision tomorrow?"
The cryptocurrency market is seeing an upward trend, but the Federal Reserve (Fed) which will issue a report on interest rate hikes early tomorrow morning may have a positive or negative impact on the price of digital assets.
The Fed is expected to raise interest rates by 25 basis points but there are some analysts who are predicting a hike of 50 basis points.
By observation, Bitcoin (BTC) started to break through $23,962 after its price dropped to a low of $22,510 last Monday but has so far been in the $23,133 zone in the past 24 hours.
According to the predictions of several leading analysts such as Michael van de Poppe, he said that the price of BTC is capable of climbing higher even though its price movement is always hovering in the $23,300 zone.
While an experienced crypto expert, Peter Brandt also believes that the price of BTC is about to surpass the level of $25,000 and climb again after plunging first to $19,000.
Even so, market analyst Rekt Capital thinks BTC will close its price around $23,400 in February 2023 when the digital asset fluctuates in the $20,000 zone.
Please note that BTC managed to jump by 1.73% in the last 24 hours and gained almost 2% in the last seven days.
