Bitcoin Reaches $24,000 After FOMC: Rally To Continue?
The cryptocurrency industry was regularly impacted by macro events in 2022. The Federal Reserve and its FOMC meetings have been pertinent. Earlier today, the Fed put forth another increase in interest rates of 25 basis points. However, it has been the lowest hike since March 2021. Following this, the market persisted in its bullish notion and Bitcoin [BTC] hit a high of $24,000. JUST IN: $24,000 #Bitcoin — Watcher.Guru (@WatcherGuru) February 2, 2023 After soaring to a high of $24,167.21, the king coin dipped to $23,938.28, at press time. Nevertheless, Bitcoin’s 24-hour gains remained at 3.60%. Additionally, the global cryptocurrency market cap rose by nearly 4% pushing the total numbers to $1.09 trillion. However, Jerome Powell, Federal Reserve Chairman suggested that inflation will prolong and the country needs to prep for “ongoing rate rises.” He added, “We see ourselves as having more persistent inflation in that [services] sector, ...