Cryptocurrency analysts predict the future of bitcoin after the US government’s actions

Bitcoin fell amid the publication of the Fed’s decision on the key rate and the speech of the head of the department, Jerome Powell. The regulator, as expected by most market participants, left the rate unchanged in the range of 5−5.25%.

The refusal to raise the Fed’s rate again is a positive signal for the stock market and the crypto industry. However, this pause may be temporary, pending the next rate hike. Against this backdrop, members of the crypto community gave a forecast for the rate of BTC $60,780.47 Bitcoin -1.42% Market capitalization $1.2 trillion VOL. 24 hours $1.44 billion . The opinions of netizens about what will happen to BTC next were similar.

Thus, the popular crypto blogger Carl From The Moon predicted that the market flagship would fall to $ 20,000. Analyst Peter Brandt also saw the prospects for a further decline in BTC. Doctor Profit agreed with him. The expert noted that bitcoin’s approach to the breakout of the weekly MA200 curve means that the coin risks moving into bear territory.

KALEO, a popular analyst in the crypto community, expects BTC to move in the range of $ 20,000 to $ 30,000. In a blog post, he shared the expected trajectory of BTC. Interestingly, the expert previously expected bitcoin to return to the $ 30,000-$ 40,000 range. «$ 30,000 is still a magnet for BTC. I do not expect a new historical high to be reached soon, but a return to the $ 30,000-$ 40,000 range with a further reduction in the distance to the ATN before the next halving is quite realistic,» KALEO emphasized.

The potential for further interest rate growth reduces the attractiveness of investing in high-risk assets such as cryptocurrencies. As a result, bitcoin, followed by other tokens, may continue to fall. The crypto market is also under pressure from the US Securities and Exchange Commission (SEC). The regulator sees signs of securities in many popular coins. In addition to cryptocurrency issuers, the two largest crypto exchanges, Binance and Coinbase, are also under pressure from the SEC.