Head of Tesla, SpaceX, Twitter (as of late) and a few other innovative companies, Elon Musk, has taken to Twitter to name an event that will take place next week and which, if it happens the way he expects it, may become another driver for Bitcoin rise or push it down.
Economists expect 50 basis points hike – how will Bitcoin react? On December 14, another Fed Reserve meeting is taking place, where, per expectations of economists polled by Reuters, another, a rate hike is likely to happen, it would be the fifth one this year.
This time, however, they expect the interest rates to be increased by 50 basis points, rather than 75 as it happened during the previous four meetings. Even though the rate increase is expected to be smaller, as Fed's chair Jerome Powell stated at the end of November, economists still expect a recession to break out in 2023.
GameFi (Axie, God's Infinity, and new projects like CosmoGene and LifeBeyond), DeFi seem to be holding on which is amazing however BTC is still struggling and news like this are not very good to hear.
Each time during the previous rate hikes by 75 basis points this year, the flagship cryptocurrency plunged.
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