RATE Group | Bitcoin Eyes Price Explosion as Traders Assess FOMC Policy Update
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Bitcoin Eyes Price Explosion as Traders Assess FOMC Policy Update

30 Jan Bitcoin Eyes Price Explosion as Traders Assess FOMC Policy Update

Posted at 13:10h in Bitcoin News by

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Bitcoin was catching a breath on Thursday after staying in a parabolic uptrend this week on the backs of favorable risk-off mood.

The benchmark cryptocurrency stabilized near $9,300 during the Asian and European trading sessions, helped by persistent worries of the Coronavirus outbreak in China and other parts of the world. As of 11:33 UTC, bitcoin was trading at $9,305.08, down 1.26 percent from its intraday high.

It was still up by 0.19 percent on an adjusted-daily timeframe.

bitcoin, cryptocurrency

Bitcoin maintaining gains after registering a parabolic rally earlier this week | Source: TradingView.com, Coinbase

FOMC Policy Update

Bitcoin’s modest gains on Thursday matched shoulders with slightly similar sentiments in gold and bond markets.

Almost all the risk-off assets edged higher after the Federal Open Market Committee (FOMC) released its policy update yesterday. The committee announced that it is keeping its benchmark lending rate intact in the range of 1.5 percent and 1.75 percent. The outcome…

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