Bitcoin’s price just spiked to a daily high of $38,820 after the Federal Reserve just announced that it had left interest rates unchanged. The Federal Reserve has indicated that the first rate hike will take place in March.
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The Federal Reserve has indicated that it can raise interest rates in March, but there is no concrete indication of that for the time being. The outcome is therefore relatively favorable as the central bank was expected to indicate that they would raise interest rates further.
The interest rate hike and the phasing out of support measures were seen as the cause of the crypto and stock crash. Now that the worst investor concerns have been averted for a while today, a recovery seems possible.
Analysts do warn that a ‘sell the news’ event could take place first.
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