On Wednesday, Fed Chairman Jerome Powell said there would only be a slight increase in interest rates in December.
The crypto market started to recover after Jerome Powell’s announcement saw Bitcoin eventually bounce back to the $17,000 level and Ethereum touched $1,300 before picking up at $17,000. $1,288 level at the moment
This year, the Fed has announced several interest rate increases since March, pushing interest rates to their highest level since the 2008 global financial crisis. has surged this year
Analysts at Santiment noted that the stock and crypto markets were moving after the Fed’s speech, leading analysts to believe that the crypto market is likely to turn bullish.
Bitcoin price set to soar to $250,000
Gokhshtein Media founder and former Congressional candidate David Gokhshtein took to Twitter to say that he did not expect Bitcoin to hit the $1 million mark expected by many media outlets. At least the price of Bitcoin will reach $250,000. He has revealed that he holds large amounts of Bitcoin and also holds Ethereum, XRP, DOGE and Shiba Inu.
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