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Bitcoin Price Prediction as BTC Climbs Back Up $16,500 and Prepares for a Big Move – Here’s Where It’s Headed Next

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Bitcoin failed to maintain its upward trend on November 24 and fell below $16,650 despite the release of dovish FOMC meeting minutes.

Members of the Federal Open Market Committee (FOMC) voted in early November to raise interest rates by 75 basis points, or 0.75 percentage points.

It was the fourth such rate increase in a row.However, Fed Chair Jerome Powell stated in a press conference following the decision that a slower rate would be appropriate soon.

On November 24, the Federal Reserve tweeted about the minutes of the FOMC meeting held on November 1-2, 2022. The minutes contain information on future interest rate trends, which is critical for determining the value of risky assets such as stocks and cryptocurrencies.

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