Bitcoin Price Prediction as Federal Reserve Interest Rate Decision Announced Can BTC Hit $30,000 This Month?

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As the Federal Reserve announces its interest rate decision, many investors are looking to the future of Bitcoin and wondering: can BTC hit $30,000 this month?

The Federal Reserve announced on Wednesday that its main short-term interest rate would rise by a quarter of a point, less than the previous increase of 0.5 points in December. This decision showed that inflation is not as high as before and is slowing down.

After their two-day meeting, the Federal Reserve reported that inflation had eased slightly but remained relatively high. The central bank seems reluctant to signal that its efforts to fight inflation are running out of steam, even as it weighs the benefits of the initiative amid growing recessionary threats.

Bitcoin has seen a noticeable decline in value in recent days, leading investors to wonder if now is the best time to buy this cryptocurrency. Currently, Bitcoin is trading in a range of $22,700 to $23,850 and the outcome of this range will indicate how the market is likely to react.

In this article, we’ll look at the potential reasons for Bitcoin’s recent price drop and analyze whether it’s a viable investment option at the moment.

US Government Releases Blacklist of Bitcoin and Ether Addresses Linked to Sanctions Evasion Efforts

OFAC, the US Treasury Department’s sanctions watchdog, has put a Bitcoin address and an Ethereum address on its “blacklist” because it believes those addresses were used to evade sanctions.

A press release revealed that Igor Zimenkov and his son Jonatan were part of a large network of people and organizations trying to export defense technologies to foreign countries. Jonatan Zimenkov, a Russian citizen, was connected to two addresses associated with both his father and Rosoboroneksport OAO.

Rosoboronexport is a Russian state intermediary dealing in arms exports – according to the company’s website. According to a press release from the Office of Foreign Assets Control (OFAC), Igor and Jonatan Zimenkov were in direct contact with organizations subject to economic sanctions from Russia.

Rosoboroneksport has conducted several transactions regarding Russian cybersecurity and helicopter sales to foreign countries, and personally interacted with potential customers to assist in the sale of Russian military equipment.

At the time of writing, neither the Bitcoin address nor the Ether address has digital currency. The Bitcoin address, which held no more than 0.01 BTC (valued at around $230 at that time) was last used in December 2022. This specific Ethereum address saw a significant amount of ETH entering or going out in the past, but hasn’t had any activity for almost a year.

Last November, an ether address received funds from an address identified by Arkham Intelligence as a wallet actively involved in over-the-counter (OTC) trading. It’s quite intriguing to note. Alameda Research, the trading company created by FTX creator Sam Bankman-Fried, previously transferred money to this address.

bitcoin price

Currently, the value of Bitcoin stands at $23,052.37 with a daily trading volume of $22 billion. In the last 24 hours, it has seen a drop of 0.33%. It currently holds the highest position on CoinMarketCap and has a market capitalization of $444 billion.

The 4-hour chart of the BTC/USD exchange rate has struggled to break above the $24,000 barrier recently. It has since dropped to test the $23,000 support level.

Bitcoin price chart – Source: Tradingview

According to the 50-day moving average of the 4-hour period, a support of $23,000 has been established for the price of Bitcoin. If it breaks below this level, it could potentially drop to $22,600 or even lower to $22,350. This may also trigger a bullish reversal in the BTC/USD pair.

Investing in buy positions with prices above $23,000 and a target of $23,550 or $24,000 could be considered advantageous. However, if the price breaks below the support zone at $23,000, short positions could be more profitable.

Buy BTC now

Bitcoin Alternatives

CryptoNews recently published a list of the most probable crypto investments that could give you good returns in 2023. If you are considering investing, it is important to do your research carefully and look for other interesting options that could generate good returns. higher yields.

Crypto enthusiasts are always on the lookout for the latest news and trends in the digital asset space, so that they can identify every possible opportunity they might want to invest in. They pay close attention to altcoins and initial coin offerings (ICOs) to make sure they stay ahead of the curve.

Disclaimer: The Industry Talk section features information from crypto industry players and is not part of the editorial content of Cryptonews.com.

Find the best price to buy/sell a cryptocurrencyCryptocurrency Price Tracker – Source: Cryptonews

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