Bitcoin Struggles to Break $47K as Fed Meeting Looms

Bitcoin Struggles to Break K as Fed Meeting Looms
Bitcoin, the world’s largest cryptocurrency, was lower as the market prepares for this week’s Federal Reserve monetary policy meeting, where the U.S. central bank is expected to slow down its money printer.The two-day meeting, which starts Tuesday and concludes Wednesday, is expected to end with the Fed announcing plans to cut the pace of its $120 billion-a-month of asset purchases by $30 billion every month, or double the current rate of reduction. Some cryptocurrency traders and investors say the stimulus program has bolstered bitcoin’s allure as an inflation hedge, so a reversal of the loose-money policy might be bearish.Bitcoin, which…