Bitcoin fell below $19,000 on Wednesday, as markets prepared for a potential 100 basis point interest rate hike from the United States central bank. Although the consensus for a rate increase remains at 0.75%, some believe that with inflation remaining at historically high levels, a 1.00% hike could be on the cards. Ethereum remained lower on the news, trading marginally above $1,300.
Bitcoin (BTC) fell below $19,000 earlier in the day, as traders began to prepare for today’s Federal Open Market Committee (FOMC) meeting.
Market uncertainty remains rife as speculation grows on whether the Fed could go as far as raising rates by 100 basis points.
As a result, BTC/USD fell to a low of $18,813.46 earlier today, a day after hitting a peak