Bitcoin price movement(Nasdaq , and Interest rate)
Bitcoin price once soared to $54,000 but then it dropped again.
It does not show a big variation at all but looks like that it is going on the trend.
There are several factors that will affect the Bitcoin price trend and they are:
#1. Interest rate
As expected the US Federal Reserve kept interest rates unchanged between 0.00%- 0.25%. Fed Chairman Jerome Powell added that it will take some time until the economy is getting better.
#2. Infrastructure investment in the US
From the speech of the US president, Joe Biden mentioned the infrastructure investment worth $1.8 trillion in traditional infrastructure and fostering new business conditions in the future.
It is known that the government will present plans to raise taxes on the rich” such as capital gains tax and expanding tax sources.”
These remarks are interpreted as ‘Uncertain solutions’ in the stock market, and it may lead to the investment capital flowing into the stock market.
When you check on the Nasdaq index and Bitcoin price, it shows a decoupling trend recently.
And the interest rate becomes an issue that may affect the Bitcoin price volatility.
If you are interested in investing in Bitcoin and Altcoins, checking on the update of interest rate and Nasdaq index may act as an indicator as well.
For more information, please visit www.mytradinginfo.com for the update and real-time data and statistics.
