Expert: Christmas rally expected – Fed holds interest rates for now – Bitcoin price outlook

Expert: Christmas rally expected – Fed holds interest rates for now – Bitcoin price outlook

According to a report by www.btc-echo.de market sentiment is positive for the rest of the year and suggests a Christmas rally. The US Federal Reserve (Fed) announced that it would not increase key interest rates for the time being, which led to positive price jumps in the crypto market. Interest rate cuts are even in prospect for 2024.

These developments have a direct impact on the crypto market, especially on the Bitcoin price. Support at the 100 EMA (4H) or $41,000 was confirmed and at the time of writing, BTC is trading at $43,000. The Bitcoin price is expected to break out soon.

The Federal Reserve's interest rate decision has also led to the markets now pricing in the fact that central bank interest rates will most likely no longer exert greater pressure on the economy. A lot of money is also expected to flow into the capital markets, especially with the potential interest rate cuts in 2024.

There are important supports and resistances to consider when it comes to the Bitcoin price. Support levels are at $42,200 and $41,430, while resistance levels are at $43,170 and $44,000.

These developments in the financial market have an impact on investor behavior and trading activities. It is important to consider these factors to make informed trading decisions.

Bastian Keller, a forex and crypto trader, has issued positive predictions for the coming developments based on his expertise in these markets. He shares his knowledge on various social media platforms, especially on his YouTube channel “Bitbull Trading”, which has more than 36,500 subscribers. He has also built a community of more than 4,000 active members, offering both beginners and experienced traders the opportunity to improve their skills to a professional level.

It remains to be seen how the financial markets will develop in the coming weeks and months, especially with regard to the Christmas period and the potential Christmas rally.