Bitcoin Price and Ethereum Prediction: Can the Fed Rate Hike Amid Banking Turmoil Boost BTC and ETH?

Bitcoin, the world's largest cryptocurrency, along with Ethereum, lost some of its value and dropped below $28k and $1,800 levels respectively. However, the reason could be linked to the release of a dovish statement from the US Federal Reserve regarding interest rates.

Timeline of Bitcoin, Ethereum

A popular cryptocurrency strategist is saying that Bitcoin (BTC) is inadvertently undergoing a positive brand-building process. In a new interview with David Lin, the anonymous host of InvestAnswers says that Bitcoin is currently “witnessing its best marketing campaign ever.

Former U.S. intelligence contractor Edward Snowden said in late January that he has been dealing with Bitcoin (CRYPTO: BTC) since pre-2013, and he has "never seen it feel as powerful as it does now on Nostr.” What Happened:  “Most people's experience with Bitcoin payments — if they even have it — is a 30-60 minute wait for mining + two-plus block confirmations, and a fee that made it feel dumb to send less than $20,” he wrote on Nostr, as shared by a Twitter user.

Institutional investors have dumped cryptocurrency investment products offering them exposure to top digital assets like Bitcoin ($BTC) and Ethereum ($ETH) over the past week, but have notably kept raising bets on products offering exposure to altcoins like $XRP, Solana ($SOL), Litecoin ($LTC), and Polygon ($MATIC).

Major cryptocurrencies traded in the green on Tuesday evening as the Federal Reserve began its two-day Federal Open Market Committee monetary policy meeting to decide whether to raise interest rates. Cryptocurrency Gains (+/-) Price (Recorded 9:30 p.m.

Bitcoin price could see a boost amid a widespread financial crisis that has already led to the collapse of several banking giants and put many others at risk, according to Raoul Pal, Real Vision CEO and a former hedge fund manager.

While US Secretary of the Treasury Janet Yellen claims the situation is stabilizing – not everyone in the banking sector is as certain.  Typically considered a mundane sector of finance and investing, US banks have tanked as everyone became aware of problematic balance sheets.

Bitcoin price is trading at more than $28,000 per coin and is up nearly 78% year-to-date in 2023. This could only be a mere glimpse of what's to come, which could ultimately be the biggest rally in crypto in several years – even beating the performance of the 2020 bull run.

Exchanging hands at $27,524 per coin at press time, Bitcoin [BTC] ended last week's trading session with an impressive 35.8% increase in value, causing it to rally out of the deep bear market territory, Glassnode found in a new report.

Bitcoin (BTC) antagonist and former US president Donald Trump has recently been trending widely on social network channels, with many calling for his arrest.  #Arresttrump, a new trending hashtag The hashtag #arresttrump has been trending vastly on Twitter.

On Monday, the non-fungible token (NFT) marketplace Magic Eden announced the launch of Bitcoin Ordinal inscription support. Magic Eden said it has partnered with the wallets Hiro and Xverse to “bring a familiar wallet transaction experience to the marketplace.