Bitcoin Price Prediction – How High Can BTC Go as it Pumps Past $20,000?
During the European session, Bitcoin is trading sideways near $20,400, tossing in between a narrow range of $20,350 to $ 20,800. As expected, the buyer-seller tug-of-war continues ahead of the FOMC and Fed Fund rate decision on November 2.
As Bitcoin (BTC), the industry's flagship asset, has shown resilience recently, bullish sentiment among crypto investors and analysts has returned as the cryptocurrency sector regained its $1 trillion market value.
BANDESAL, El Salvador's development bank, set up a $150 million trust fund to ensure the convertibility of the local currency to US dollars for use by consumers and businesses.
Since Bitcoin became legal cash in El Salvador, President Nayib Bukele has made frequent Twitter announcements about the country's BTC purchases. However, the non-governmental anti-corruption bureau ALAC El Salvador was recently refused access to data from the state development bank BANDESAL regarding Bitcoin transactions in El Salvador.
El Salvador's development bank, BANDESAL, set up a trust fund with $150 million to ensure the country's inhabitants and businesses would always have access to US dollars.
El Salvador's Bitcoin purchases are confidential, thus their request for disclosure was denied.
To paraphrase their official statement:
The confidentiality limits the possibility for citizens to access and receive information on the operations carried out with public funds by BANDESAL.
In response to the denial, ALAC El Salvador pointed out that the money used to buy bitcoins came from the government's coffers.
A decision on interest rates from the Federal Open Market Committee and the Federal Reserve is expected tomorrow, November 2. The market expects the Federal Reserve to raise interest rates by 75
Read more on cryptonews.com
