Crypto Blog
Bitcoin’s price has been on a downright spiral for the past several days, losing way more than ten grand after charting a new all-time high last week at nearly $74,000.
Although many experts warned that such a correction could arrive and forecasted a ‘healthy’ 20% retracement before another leg up, the community wonders how low it can go, so we decided to ask the popular ChatGPT rival – Perplexity – whether there is even more pain in the asset’s future.The primary cryptocurrency had a strong start to this year, which intensified after the first month of trading for the January-launched 11 spot Bitcoin ETFs in the States.
Additionally, Perplexity outlined another factor that could be driving uncertainty in all financial markets, but especially in the more volatile and risky by nature – crypto. The Federal Reserve is set to meet later today in its second FOMC meeting for the year, which could lead to major changes in the central bank’s monetary policy. In general, such changes have indeed impacted BTC’s price movements in the past.
Nevertheless, most experts believe the Fed will not raise the interest rates anymore as it has refused to do in the past few such meetings.One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
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