A widely followed crypto strategist is predicting how Bitcoin (BTC) will behave in response to the Federal Reserve announcing a fresh round of rate hikes.
Pseudonymous analyst Pentoshi tells his 540,600 Twitter followers that he sees Bitcoin rallying with tech stocks once the markets digest the news coming from the Federal Open Market Committee (FOMC) meeting.
“So many stocks at or around their March 2020 lows AFTER the Covid crash. Spotify, Netflix, Zoom, Paypal, and many more. Post FOMC rally for equities and BTC short term as many are at key pivot points looking to be setting up in my opinion.”
The Federal Reserve is expected to raise interest rates by 50 basis points after the May 4th meeting in an effort to curb inflation,