Crypto analyst Ted Talks Macro (@tedtalksmacro) posted a tweet thread with a FOMC Bitcoin price prediction – that BTC could potentially rally post FOMC.
The results of the next FOMC meeting (Federal Open Market Committee) will be announced Wednesday, September 21st.
Bitcoin Price Prediction – @tedtalksmacro
Ted Talks Macro’s thesis is that the stock and crypto markets have mostly priced in a 75bps rate hike, and ‘discounted the likelihood of a 100bps hike’.
According to the CME Group’s FedWatch Tool, a 100bps hike has just an 18% probability of occurring.
Therefore assets seen as more ‘risk-on’ such as Bitcoin should see a bounce and relief rally if a 75 basis points hike is announced.
Since his Bitcoin price prediction on September 17th, the BTC price has dropped as low as $18,230 on Binance – down 7.5% in the past 24 hours as of Monday 19th.
Bitcoin typically acts as a beta asset to the S&P 500, which is 0.7% in the red today.
The larger Bitcoin dump pre FOMC as sentiment turns risk-off could in turn leave more upside for a bullish rally post FOMC.
Ted Talks Macro expects a short term uptrend for the Bitcoin price after the FOMC meeting, although followed by a ‘hawkish press-conference at 18:30 UTC that caps the rally.’
Ted Talks Macro has just under 79,000 followers on Twitter, and 10,000 on YouTube. Read his Bitcoin price prediction thread here.
Elsewhere in the altcoin markets token presales are still attracting high investor interest and selling out early, despite the caution and bearish price action in the big caps.