How did the FOMC calendar events in 2016 affect the prices of cryptocurrencies?

1 answers

• Meghan Moira LanningNov 09, 2023 · 2 years ago
  In 2016, the FOMC calendar events had a notable impact on the prices of cryptocurrencies. As the Federal Reserve adjusted interest rates, it affected the overall market sentiment and investor confidence. When the Federal Reserve raised interest rates, it signaled a tightening of monetary policy, which led to a decrease in the demand for riskier assets like cryptocurrencies. This resulted in a downward pressure on cryptocurrency prices. Conversely, when the Federal Reserve hinted at a possible rate cut, it signaled a more accommodative monetary policy, which increased the demand for cryptocurrencies as investors sought higher returns. The FOMC calendar events in 2016 served as important indicators for market participants and influenced the pricing dynamics of cryptocurrencies.
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