After a long and stagnant spell in recent times, the crypto community is desperately awaiting a strong Bitcoin price rise. In this context of a bear market, industry insiders are pointing to a rise in investment flow into Bitcoin (BTC) very soon. With this, there could potentially be a resultant BTC price rise, perhaps sometime in 2023 if not by the end of the year. Meanwhile, BTC continues to be swayed by negative sentiments coming from the traditional financial markets scene.
Bitcoin Price Rise Incoming
In a latest, BTC had a sharp fall in price following reports of yet another 0.75% interest rate hike in November Fed meet. Earlier in the day, it was reported that The Fed is planning on another interest rate rise at their meeting between November 1 and 2. In this context, Kristin Smith, the executive director of Blockchain Association, made some interesting comments on BTC revival. Speaking to CNBC on Friday, she said there will be a rise in investments and the price of BTC due to macroeconomic revival.
“As we start to see the economy come around, we are going to see the investment in Bitcoin rise and subsequently the price. We could see legislation signed into law before the end of the year.”
On Friday, BTC saw a drop by around 2% after speculation of another 0.75% interest rate hike in November. As of writing, BTC price stands at $19,011, down 1.43% in the last 24 hours, according to price tracking platfrom CoinMarketCap.
Trending Stories
Ecosystem
Research
News Network
About