Analysts Are Waiting For The Price Of Bitcoin At $28,000

Cryptocurrency market experts gave a forecast regarding the price of the flagship cryptocurrency Bitcoin (BTC) for the next week. They noted that the value of the virtual asset could reach the price mark of $28,000 in anticipation that representatives of the Federal Reserve will hold a regular meeting.

According to official figures, Fed members will meet on July 26 and 27, 2022. The event will discuss the issue of raising interest rates in connection with the growing level of global inflation. If the organization’s representatives decide to raise rates by 0.75%, this will happen for the third time this year.

According to analysts, such measures will affect both traditional and cryptocurrency markets. According to them, the fact that Bitcoin and Ethereum have regained their price levels above $22,000 and $1,500 was a positive signal and encouraged industry experts and traders who remain optimistic.

In addition, the head of the Binance exchange, Changpeng Zhao (CZ), said that even though several crypto projects have failed, the number of traders and organizations in this industry continues to grow steadily. He also assured that institutional confidence is growing, as well as the popularity of decentralized finance (DeFi) and non-fungible tokens (NFT) platforms.

As of 17:55 Moscow time on July 23, 2022, Bitcoin (BTC) was trading at $22,284, down 5.7% from a day ago. At the same time, the capitalization of the virtual asset amounted to $425.65 billion.