Bitfinex Market Analysts Talks On BTC, Traditional Stock Reaction After Fed’s 2.5% Hiked Rate 

In an announcement on Wednesday, the Federal Reserve announced its decision of a 75-basis-point rate increase. New increments in rates in addition to the previous ones in March, May, and June have taken the interest rate of the central bank from near zero to between the range of 2.25% – 2.50 %. This kind of monetary tightening last happened in the 1980s when Fed Chair Paul Volcker fought double-digit inflation. 

Here is a commentary by Bitfinex Market Analysts on BTC and traditional stocks’ reaction on FOMC’s announcement: 

“Bitcoin and traditional stocks were on the rise immediately following yesterday’s FOMC announcement of its decision to not raise interest rates by 100 basis points and just 75 basis points. This decision, and the way it was communicated, seemed to have quelled some bearish sentiment. However well the Fed might be at managing expectations, jumpstarting economic growth will require pivoting to investing resources into high-growth sectors like blockchain and decentralized technologies. Still untapped and under-commercialized, this emerging sector has the opportunity to transform every major industry vertical. There is a high chance that the next several decades worth of economic growth will be driven by blockchain-based technology — some of which will be powered by a secondary economy that’s underpinned by digital assets.”

Following the Fed’s announcement, the S&P 500 blew. It, however, didn’t lose its grip on daily gains without a fundamental change in market direction. The top cryptocurrency, on the other hand, rose even higher. It experienced a 10% increase on July 27. At the time of writing, Bitcoin was trading at $22,972.91, up by a 7.86% rise in the past 24 hours.

Bitfinex is among the prominent crypto exchanges in the crypto industry today. Established in 2012, Bitfinex is one of the oldest exchanges. The exchange is well-known for offering trading services to investors around the globe. Its additional services include peer-to-peer lending, the OTC market, and funded trading. Market analysts and the trading team at Bitfinex are passionate individuals possessing years of experience in the crypto industry. 

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