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FOMC Meeting Today: Will Bitcoin, Ethereum, and XRP Crash or Rally?

By Frank bevah

Bitcoin, Ethereum, and XRP advanced Wednesday as investors awaited the Federal Reserve’s October 28 decision and major technology earnings. The cryptocurrency market gained 1.72% over 24 hours, lifting its combined valuation to $2.71 trillion. However, the rebound faces a crucial test as traders assess whether…

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Bitcoin

The first and largest cryptocurrency, created in 2009, with a fixed maximum supply and no central issuer.

Its price swings and adoption by funds and companies make it a bellwether for the whole crypto market.

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Federal Reserve

The central bank of the United States, which sets US interest rates and supervises banks.

Because the dollar is used worldwide, its rate decisions affect borrowing costs and markets in many other countries.

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Quarterly results

A public company's report of its revenue, profit and outlook for a three-month period.

Results show how a business is really doing and often move its share price sharply.

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Cryptocurrency

A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.

Crypto prices are volatile, and governments are still deciding how to regulate it.

More about Cryptocurrency

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