Market Wrap: Cryptocurrencies Bounce Back, Traders Expect More Volatility

Posted on by American Coins & Gold

Market Wrap: Cryptocurrencies Bounce Back, Traders Expect More Volatility
Bitcoin returned above $42,000 at press time as the broader crypto market bounces back after a sell-off earlier this week. Traders expect volatility to remain elevated ahead of bitcoin’s September options expiry on Friday. And technical charts show limited upside for BTC toward the $47,000 resistance level.On Wednesday, the U.S. Federal Reserve signaled that it could start to scale back, or taper, its monthly asset purchases sooner rather than later. Fed officials are preparing to reverse the central bank’s pandemic stimulus programs in November and expect to raise interest rates by the end of next year.While overall market sentiment is…