Time to Stop Worrying About the FED rates?

That's right, I've done the numbers so you don't have to(more so if you don't care)! I now declare that we are free of the FED, based on a small data sample with a volatile asset class! What could go wrong.

Since the start of this year I have tried to look for a pattern in FED rate announcements and bitcoin price, especially as recently a lot of people seemed perplexed that the rate hold had a slightly negative price impact. So I have collected some numbers, day before, day of and 1 week after FOMC announcements.

So here are a whole lot of numbers and I will tldr:

*Federal Open Market Committee (FOMC) meetings this year, data from federalreserve dot com

*Bitcoin prices: statmuse dot com

Meeting: Feb 1

Rate Increase from 4.5-4.75% (0.25)

Bitcoin Jan 31: 23,124 +1.3%

Bitcoin Feb 1: 23,725 +2.6%

Bitcoin Feb 8: 22,964.

Meeting: March 22

Rate Increase 4.75-5% (0.25)

Bitcoin Mar 21: 28,105 +1.4

Bitcoin Mar 22: 27,250 -3

Bitcoin Mar 29: 29,348

Meeting: May 3

Rate Increase 5-5.25% (0.25)

Bitcoin May 2: 28,669 +2.1

Bitcoin May 3: 29,026 +1.2

Bitcoin May 10: 27,598

Meeting June 14

Rate Hold 5.25% (this should be a good one)

Bitcoin June 13: 25,934 +0.1

Bitcoin June 14: 25,128 -3.1 (wait...what?)

Bitcoin June 21: 29,993 (phew)

Meeting July 26 (I promise, not much more)

Rate Increase 5.25-5.5%

Bitcoin July 25: 29,228 +0.2

Bitcoin July 26: 29,351 +0.4

Bitcoin Aug 3: 29,193

Pretend that there is a rocket emoji here to break this up a bit. ???????????? LAST ONE!

Meeting Sept 20

Rate Hold 5.5%

Bitcoin Sept 19: 27,210 +1.7

Bitcoin Sept 20: 27,125 -0.3

Bitcoin Sept 27: 69k probably

So, other than apologising for this post, my feelings from this limited data set are that we have seen relatively little price action on these announcements.

There is small correlation as on both occasions that the Fed held rates, Bitcoin showed a small price decrease, while on the occasions of rate rises we saw immediate very short term, small price increases.

Tldr: don't get to excited about FED meetings, Crab Year don't care about no macro-economics!

Note from author: I hope this post didn't cause anyone too much distress. Have some more rocket emojis ????????