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

cryptonews.com:

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

The Federal Reserve announced on Wednesday that its key short-term interest rate would go up by a quarter point, which was less than the previous 0.5-point increase in December. This decision showed that inflation is not as high as it was before and is decelerating.

After their two-day meeting, the Federal Reserve reported that inflation has decreased slightly but is still relatively high. The central bank seems disinclined to indicate that their effort to combat inflation is winding down, even as they weigh the advantages of the initiative against increasing recessionary threats.

Bitcoin has experienced a notable decline in value in the past few days, leading investors to ask if it's currently the best time to purchase this cryptocurrency. Currently, Bitcoin is trading within a range from $22,700 - $23,850 and the outcome of this range will indicate how the market is likely to respond.

In this article, we will take a look at the potential reasons behind Bitcoin's recent drop in price, and analyze whether it is a viable option for investing at the moment.

OFAC, the US Treasury Department's monitoring body for sanctions compliance, has put a Bitcoin and an Ethereum address on its "blacklist" as it believes that these addresses have been used to evade sanctions. 

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

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