NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin Eyes Price Explosion as Traders Assess FOMC Policy Update

Yashu Gola
Yashu Gola
1 year ago
2 mins read
bitcoin, cryptocurrency

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin was catching a breath on Thursday after staying in a parabolic uptrend this week on the backs of favorable risk-off mood.

The benchmark cryptocurrency stabilized near $9,300 during the Asian and European trading sessions, helped by persistent worries of the Coronavirus outbreak in China and other parts of the world. As of 11:33 UTC, bitcoin was trading at $9,305.08, down 1.26 percent from its intraday high.

It was still up by 0.19 percent on an adjusted-daily timeframe.

bitcoin, cryptocurrency
Bitcoin maintaining gains after registering a parabolic rally earlier this week | Source: TradingView.com, Coinbase

FOMC Policy Update

Bitcoin’s modest gains on Thursday matched shoulders with slightly similar sentiments in gold and bond markets.

Almost all the risk-off assets edged higher after the Federal Open Market Committee (FOMC) released its policy update yesterday. The committee announced that it is keeping its benchmark lending rate intact in the range of 1.5 percent and 1.75 percent. The outcome showed that the Federal Reserve was – apparently – relaxed about the current nature of the US economy.

However, the Fed chair Jerome Powell said later in a press conference that he remains unsatisfied with the inflation staying below 2 percent. That allowed traders to assess that the US central bank could introduce another rate cut in 2020, which helped to hedge assets surged higher this Thursday.

The sentiment sent dollar-denominated assets higher.

WATCH: Fed Chair Powell holds a press conference following the FOMC's decision to leave interest rates unchanged. https://t.co/TuGurssxY0

— CNBC (@CNBC) January 29, 2020

An Artificial Bitcoin Pump

Bitcoin is not a proven safe-haven asset like Gold. But the cryptocurrency lately enjoyed a comfortable bull run as one as geopolitical tension between the US and Iran escalated. It formed its best positive correlation with Gold after months, showing that traders are beginning to treat it as an insurance against a global crisis.

But to one prominent analyst, the bitcoin pump is an artificial one.

Peter Schiff, a noted gold bull, said in a tweet yesterday that speculators alone drove the bitcoin prices higher, believing that institutional investors – at one point in the future – would choose the cryptocurrency as their safe-haven. Excerpts:

“Whenever there’s actual safe-haven demand, Bitcoin pumpers manipulate the price higher to attract buyers, driving the false narrative that #Bitcoin is a safe haven too. Buyers speculate that others will buy Bitcoin as a safe haven, but none do. There’s nothing safe about Bitcoin.”

Why are you even comparing Bitcoin to gold? Bitcoin and gold have nothing in common. Bitcoin has outperformed everything if you bought it at the right times. But for most it will eventually underperform everything.

— Peter Schiff (@PeterSchiff) January 29, 2020

Meanwhile, Grayscale, a New York-based digital currency investment trust, reported a capital influx of about $600 million in 2019, indicating that Wall Street was transforming into a big bitcoin bull.

“With 71% of assets raised into Grayscale products during 2019 coming from institutions, we now have empirical data that this is part of a longer-term trend–one that we have no reason to believe won’t be sustained into 2020,” said Michael Sonnenshein, managing director at Grayscale.

So far, the bitcoin price rally is sustaining.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Ethereum Shines Bright As Bank Of America Begins Digital Asset Tracking

A new weekly “On Chain” report from Bank of America is shining a spotlight on Ethereum. According to the report,...

Christian Encila 3 hours ago
Snorter

Kateri Telegram bot bi lahko bil naslednja kriptovaluta s 100x donosom?

Ker je priljubljenost Telegram botov eksplodirala, se Snorter telegram bot pojavlja kot resen tekmec Banana Gun z nizkimi pristojbinami, hitrostjo...

tanjapotocnik 3 hours ago
meme coins

Meme coins καταγράφουν νέα κέρδη καθώς το Bitcoin ξεπερνά τα 122.000 δολάρια

Η αγορά των meme coins φαίνεται να ακολουθεί τη γενικότερη ανοδική πορεία του Bitcoin, το οποίο ξεπέρασε τα 122.000 δολάρια...

Ιωάννης Ριζόπουλος 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Cardano

A Breakout To Remember: Cardano Price Mirrors Market Conditions That Led To $3.10 ATH

Scott Matherson 1 hour ago
Bitcoin Bears Strike Back After ATH: Long/Short Ratio Flips Negative

Bitcoin Bears Strike Back After ATH: Long/Short Ratio Flips Negative

Sebastian Villafuerte 2 hours ago

Price Isn’t the Only Thing Rising – FUNToken’s Roadmap Execution Is Gaining Speed Too

News BTC 3 hours ago

Premium Sponsors

Press Releases

  • ミームコインの価格急騰が続く中、注目の仮想通貨プレセールが50万ドルを突破し、次の100倍コインになる可能性がある。

    ...

    4 hours ago
  • 仮想通貨おすすめ|ビットコイン強気派の一休み中に買うべき銘柄

    ...

    4 hours ago
  • 2025年注目の新しい仮想通貨|Solana発 次世代ミームコインが投資家の期待を集める

    2025年注目の新しい仮想通貨|Solana発...

    4 hours ago
  • 2025年7月第2週にクジラが購入した注目のアルトコイン

    ...

    5 hours ago
  • 仮想通貨おすすめ|1ドル以下の3銘柄が2027年までに200ドルの投資を200万円に変える可能性

    ...

    5 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.