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Bitcoin, Ethereum Jump as Federal Reserve Doubles Tapering, Signals Three 2022 Rate Hikes
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The price of bitcoin (BTC) moved up immediately following the conclusion of a two-day US Federal Reserve (Fed) meeting on Wednesday, with the statement from the meeting saying interest rates will be kept unchanged for now, while the amount of tapering doubled from last month. The Fed signaled that 2022 will see three interest rate hikes.
At 19:10 UTC, BTC traded at USD 49,200, up 3.1% for the past 24 hours and up nearly 3% in the first 10 minutes after the release of the statement. Ethereum (ETH) jumped 4% during the same 10 minutes, moving above USD 3,965.
At the same time, the US S&P 500 stock index responded to the statement from the meeting by trading up 0.4% in a matter of 10 minutes after the statement was released. At the time of
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