Crypto Bull Market Resumes Post Fed Meeting! BTC And ETH Getting Into 2022 Bull Season!

The Federal Reserve officials raised their fearless stride to escalate the withdrawal of the unprecedented monetary impetus used to fortify markets in the wake of Covid-19. Conceding the mounting risk of inflation. The crypto fraternity has been carefully observing resolutions of the US central bank whilst the majority of them see Bitcoin and other cryptocurrencies as a hedge against the forth-coming monetary stimulus. 

Interim, the Fed remarked that it would double the pace of tapering from the current pace of withdrawal $15 billion to $30 billion every month by early 2022. Therefore, a swift withdrawal of the stimulus could pave the way for greater Bitcoin’s dominance. Meanwhile, the primary coin and most of the cryptocurrencies that have seen aggressive sell-off over the past few weeks quickly jumped in prices post the Fed decision. 

Analysts Across the Market Are Bullish On Bitcoin!

The crypto space had been rocky as traders across the market became more and more apprehensive of the Federal Reserve’s meeting on December 15th. Whilst the agency has enacted 3 interest hikes and stepwise tapering in 2022, cryptocurrencies have shown a sign of upward movement. Besides, a Crypto analyst Lark Davis has recently added in his tweet that Bitcoin price will skyrocket in the coming days as inflation would threaten the purchasing power.

The Fed projects three rate hikes in 2022 from 0.25% to 1%. These projections would yield more intensive rate hikes that would further pave the way for hyperinflation, he added. Further, the analyst Lark Devis believes in the fact that cryptocurrencies will help rising people’s purchasing power in the coming days.  

Another popular crypto analyst from the Crypto fraternity Micheal Van De Poppe confirms the drop in the Dollar index yielding the decision by US Fed. Further, he was seen pretty ecstatic over the rise in Bitcoin and Ethereum prices in the meantime. However, as the market was under correction mode over the past week, he referred to the scenario for selling the news and buying the rumor. 

Collectively, the top market leaders quickly bounced from their bottom support post the FED’s decision. Bitcoin and Ethereum prices are now up by 3.1% and 5.2% round the clock. Whilst both of the assets charting green, they need to pass the crucial resistance test above. The primary coin needs to pass the barrier of $51k and the star altcoin needs to cross the upper resistance of $4300 in order to confirm the upward move.