
Jakarta, Pintu News – Kevin O’Leary, an American investor and entrepreneur, recently expressed his views on the impact of the Federal Reserve (Fed) interest rate cut that may occur in December on the price of Bitcoin. According to him, the decision will not have a significant effect on Bitcoin’s price movement.
According to Kevin O’Leary, there is a small chance that the Fed will cut interest rates in December. He argues that still-high inflation will make the Fed cautious in changing its monetary policy. Recent data showed US annual inflation rose to 3% in September, the highest rate since January.
O’Leary added that he does not invest funds assuming there will be an interest rate cut. He believes that the Fed’s policy will not have a major impact on Bitcoin, and predicts that the price of Bitcoin will move within 5% of its current price, either up or down.
Financial markets often react to changes in monetary policy. CME’s FedWatch tool showed that the probability of a rate cut in December had reached 88.1%. However, statements from New York Fed President John Williams, stating that the Fed may cut rates in the near future, have caused significant fluctuations in market expectations.
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Nonetheless, O’Leary maintains that Bitcoin will not be significantly affected by the Fed’s decision. He thinks that Bitcoin will remain stable and will not experience major price changes, even if the Fed decides not to change interest rates.
O’Leary emphasizes that Bitcoin tends to be resilient to market surprises. Although Bitcoin has seen a 14% drop in the last month, O’Leary believes that the cryptocurrency will remain in a narrow trading range. He also dismissed concerns that the Fed’s decision to keep interest rates on hold could disrupt the crypto market.
According to him, Bitcoin has strong fundamentals and is less affected by short-term monetary policy. O’Leary argues that investors should focus more on other factors that could affect Bitcoin’s price, such as global adoption and innovations in blockchain technology.
While there has been much speculation regarding the impact of the Fed’s policy on the crypto market, Kevin O’Leary’s view shows a different perspective. He believes that Bitcoin will remain stable and will not be significantly affected by the Fed’s decision in December. This shows the importance of understanding the various factors that can affect Bitcoin price, not just monetary policy.
Kevin O’Leary is an American investor and entrepreneur known for his views on investments and financial markets.
The Federal Reserve is the central bank of the United States, in charge of setting the country’s monetary policy.
The US annual inflation rate in September was 3%.
According to CME’s FedWatch tool, the probability of a Fed rate cut in December is 88.1%.
Kevin O’Leary argues that the Fed’s policy will not have a major impact on Bitcoin and predicts that Bitcoin price will move within 5% of its current price.
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