BTC Price Finds Boost in the U.S. Fed

Colin Baseman

Tyler Winklevoss has gained plenty of knowledge and experience while dealing with cryptocurrencies and now he is making new predictions that may help many crypto community members better understand the current situation.

What the famous investor says can change thousands of people’s further behavior. According to the prognosis they receive from leading experts, it becomes much easier for users to decide which direction they should take and whether it is the right time to apply their strategies and tactics to achieve their major goals.

As several mass media outlets mention, there will be a Fed speech in the nearest future. This event may suggest that its participants will mainly concentrate on raising inflation. Also, the upcoming speech is probably good news for the pair of the top-ranked cryptocurrency and the U.S. dollar.

All crypto specialists admit that the crypto asset is receiving most of its price support coming directly from the Fed. This opinion has been especially popular among entrepreneurs and people dealing with the crypto space. In one of the latesttweets, the co-founders of the Gemini exchange expressed their viewpoint saying that the policy is going to bolster the crypto’s fortunes.

Some crypto market analysts agree, though, that inflation may significantly change the usual flow of things, and yet it is likely to boost BTC. According to Tyler, this is happening because the crisis brought by the pandemic has influenced many aspects. The country’s economy is currently suffering and what is now occurring in the traditional markets makes the cryptocurrency look much more appealing to the majority of the population across the country.

Expectations from the Upcoming Speech

In the nearest few days, the chairman of the Reserve will deliver a speech. It appears that commentators believe that the discussion will contain a report on allowing inflation to increase dramatically. This fact alone makes the cryptocurrency incredibly appealing. However, one should bear in mind that BTC has a fixed unalterable issuance. Besides, we know that its supply is also fixed.

Tyler expects that the Fed will continue to be the crypto’s key booster. It’s time to start targeting bigger inflation and this is what the Fed will be responsible for. There are noticeable price surges and hundreds of users state that they are ready to purchase precious metals along with crypto to make smart investments. Many analysts expect to see outrageously bullish targets for gold and silver.

At the same time, there are numerousreports stating that interest rates might remain around zero for about five years. Professionals say they wouldn’t be surprised to witness even longer timeframes. Similar events took place between 2008 and 2015 – back then, rates did not change and remained at almost zero percent for seven years.