BTC Price: What The US Federal Reserve Meeting Means For Bitcoin Bulls

The US Federal Reserve is one of the most significant institutions in the world, and its choices have tremendous ramifications for the cryptocurrency business. The Fed's quarterly meetings are generally conducted in person, but this year they'll be livestreamed.

The Fed will likely adopt a hawkish position on its interest rate - which would signal that it wants to boost rates once more in 2018. If it does so, it might send a strong message to investors throughout the globe that cryptocurrencies are not safe havens and should be avoided.

Bitcoin bulls had been anticipating for such a move since last year when former Fed chair Janet Yellen suggested that cryptocurrencies like bitcoin were not sustainable and may crash at any time. Earlier this month she retired from her job at the bank, so allowing her successor Jerome Powell to determine whether or not to follow up on Yellen's words by tightening monetary policy more than anticipated - something that would undoubtedly be poor news for bitcoin's price in general.