Big Week Ahead For Bitcoin And Crypto: This Will Be Key

The crypto market is gearing up for a big week ahead, with several key events set to take place. Bitcoin and other cryptocurrencies will be in focus as investors await the outcome of these events, which could have far-reaching implications for the future of the crypto industry. From upcoming hearings in the US Senate to the launch of new crypto products, here’s what you need to know about the week ahead and what it could mean for your investments. Stay tuned as the fate of Bitcoin and crypto hangs in the balance.

Bitcoin and other cryptocurrencies are currently experiencing a surge in value due to several factors, including the insolvency of American banks and the acquisition of Credit Suisse by UBS Bank. On Sunday, the price of Bitcoin peaked at over $28,400, which is a bullish sign for investors.

While economic and financial data may not have a direct impact on the Bitcoin price, investors should continue to keep an eye on events such as the FOMC meeting and interest rate decision by the US Federal Reserve Bank. The Fed’s decisions could greatly affect the Bitcoin market, as a projected pivot this year would be massively bullish for the cryptocurrency.

According to the CME FedWatch tool, only 53% of analysts expect a 25 basis point rate hike in March, while the remaining 47% expect a pause. This presents a risk of further rate hikes which could lead to more banks going bust, causing market players to call for a shift away from hawkish monetary policy.

For Bitcoin investors, a pause in rate hikes or even a hike of just 25 basis points should bolster the bullish momentum in the market. They should also expect a volatile Wednesday as investors closely follow the Fed chairman’s statements about future monetary policy during the press conference.

At press time, the Bitcoin price is trading at $28,107 and looking extremely bullish, with the hourly uptrend still intact. As the insolvency of American banks and other financial events continue to unfold, Bitcoin and cryptocurrency investors are likely to experience significant gains.

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