FED Cuts Interest Rates After 54 Months

The US Federal Reserve (FED) lowered interest rates by 50 basis points from 5.5 percent to 5 percent in September. This was the first time the FED had cut interest rates in 54 months. Undoubtedly, lowering interest rates will positively affect cryptocurrencies, especially Bitcoin, but this is just the beginning and I think the FED will cut interest rates further in the coming months. That's why I will continue to hold my crypto assets.

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Bitcoin is currently trading at $59,874, and I think the rate cut is already priced in, so Bitcoin could fall a bit more, but I believe it will rise even higher in the coming months. We'll wait and see.