Bitcoin Price and Ethereum Predictions: How US FOMC Decision Could Impact the Crypto Market?

cryptonews.com:

The recent surge in Bitcoin and Ethereum prices has caught the attention of many investors and traders, with both cryptocurrencies experiencing significant gains in value over the past few months. 

However, the upcoming interest rate decision by the US Federal Reserve (FOMC) has sparked uncertainty and speculation about how it will impact the crypto market. 

Bitcoin (BTC), the world's largest cryptocurrency, managed to regain its traction on Wednesday morning, reaching fresh 9-month highs above $28K as traders patiently awaited the outcome of the US Federal Open Market Committee (FOMC) meeting, which might result in a 25 basis point interest rate hike.

Meanwhile, the second largest cryptocurrency, Ethereum, has seen substantial increases, rising 3.50% in the previous 24 hours. 

Several famous cryptocurrencies, including Dogecoin (DOGE) and Litecoin (LTC), also managed to land in the greens. At the time of writing, the global crypto market value was $1.18 trillion, representing a 2.20 percent 24-hour rise.

Bitcoin has surged by more than 40%, mainly due to the collapse of major banks. This has caused investors to lose faith in the financial system and turn to Bitcoin as a more reliable alternative. 

Bitcoin has reached a new high of $28,000, the highest level since June 2022. As a result, people have started to view Bitcoin as more trustworthy than banks.

As a result, Bitcoin's popularity is surging as more people buy it while it is still relatively inexpensive, and institutions strive to keep up with the growing demand. 

It is worth emphasizing that Bitcoin is a decentralized digital currency that is not controlled by central banks or financial institutions, which has earned it a reputation as a safe-haven asset during economic