Bittime - Bitcoin (BTC) prices recovered slightly after plunging more than 15% from last week's record high, as investors reduced risk. Wednesday's Federal Reserve (Fed) decision poses risks for crypto asset prices, with concerns of a less investor-friendly stance emerging due to strong US economic data and stubborn inflation, according to market strategist LMAX Group.
After posting a series of new record highs over the past few weeks, the largest cryptocurrency by market capitalization plunged sharply from nearly $74,000 last Thursday. Its price fell more than 15% to below $63,000 early Tuesday, dragging other digital assets down.
Investors Wary Ahead of Fed Decision
Crypto investors are on alert ahead of the United States Federal Reserve's latest monetary policy decision. They worry that the US central bank may take a tougher stance to curb inflation, which could reduce the appeal of risk assets like Bitcoin.
Correction After Sharp Rise?
Bitcoin's significant price increase in recent months may be followed by a correction, especially if the Fed signals a faster-than-expected increase in interest rates. This correction may be temporary, but it could make investors nervous in the short term.
Despite the risks of the Fed's decision, some investors see Bitcoin as a hedge against inflation. They believe that the limited number of Bitcoins (21 million) will protect their value from weakening of traditional currencies due to loose monetary policy.
BTC Price Today
Source: Bittime
Based on the Bittime market today, March 20 2024, the price of BTC was observed to have decreased by 5.37 percent in the last 24 hours. Currently the price of BTC to IDR is IDR 991,506,656 .
Bitcoin Outlook Remains Optimistic
Despite the short-term uncertainty, Bitcoin's long-term outlook remains optimistic. Increased institutional adoption and greater public awareness could push Bitcoin prices higher in the next few years.
Bitcoin's current recovery may be temporary as investors remain wary of the Fed's decision. However, Bitcoin's long-term prospects remain attractive, supported by growing adoption and limited supply.
Check Crypto Prices Today:
How to Buy Bitcoin (BTC) on Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with the market pair BTC/IDR . To be able to buy BTC IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Bitcoin (BTC) on Bittime .
Monitor price chart movements of Bitcoin (BTC ) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Buy Bitcoin Before or After the Halving? Here's the Guide!
What is Bitcoin Unlimited (BTCU)? Bitcoin Derivatives Project
What is Bitcoin Halving and How Does It Affect Bitcoin?
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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