Bitcoin Price Set for Major Boost as Fed Keeps Rates Unchanged
Bitcoin's price is set for a significant boost, with several positive developments on the horizon. The Federal Reserve's interest rate decision, the SEC's rescission of SAB 121 regulation, and growing institutional demand are all contributing factors.
The Federal Reserve's decision to keep interest rates unchanged until March 2023 is another bullish factor for Bitcoin's price. This, coupled with the SEC's rescission of the SAB 121 regulation, is expected to facilitate institutional inflows, driving up the cryptocurrency's price.
Standard Chartered has raised its Bitcoin price projection to $130,000 by March 2023, reflecting growing institutional interest and bullish market trends. This is supported by record inflows into crypto-based funds and ETFs, indicating sustained demand growth. Technological deflation facilitated by artificial intelligence (AI) could also contribute to Bitcoin's price increase.
The SEC's removal of SAB 121 will allow traditional financial institutions to more easily manage digital assets, increasing institutional participation in Bitcoin. This, along with the recent executive order signed by Donald Trump on cryptocurrencies, is expected to boost Bitcoin's price growth and market confidence, positioning it for significant growth in the coming months and years.
