US Fed rate cut could push Bitcoin down 20%: Analysts 

Bitfinex says it’s a “challenging time” for Bitcoin traders as the US Fed’s widely expected rate cut could lead to a drop in Bitcoin’s price and not a boost as hoped by the market.

A long-awaited United States Federal Reserve interest rate cut could push Bitcoin down — the opposite direction of many market participants’ expectations — and possibly cause its price to dive to levels not seen since February, analysts say.

“If we were to speculate, we would caution to expect a 15-20 percent decline when rates are cut this month, with a bottom of $40-50k for BTC,” Bitfinex analysts wrote in a Sept. 2 note.

Bitfinex’s analysts backed up their claims by reiterating that September has historically been a “volatile month” for Bitcoin, and the anticipated Fed rate cut only adds another “layer of complexity, potentially exacerbating the market’s volatility.”

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Bitfinex says it’s a “challenging time” for Bitcoin traders as the US Fed’s widely expected rate cut could lead to a drop in Bitcoin’s price and not a boost as hoped by the market.
A long-awaited United States Federal Reserve interest rate cut could push Bitcoin down — the opposite direction of many market participants’ expectations — and possibly cause its price to dive to levels not seen since February, analysts say.“If we were to speculate, we would caution to expect a 15-20 percent decline when rates are cut this month, with a bottom of $40-50k for BTC,” Bitfinex analysts wrote in a Sept. 2 note.Bitfinex’s analysts backed up their claims by reiterating that September has historically been a “volatile month” for Bitcoin, and the anticipated Fed rate cut only adds another “layer of complexity, potentially exacerbating the market’s volatility.”Read more