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Bitcoin rallies above $49K following Fed FOMC announcement of rate hikes in 2022
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Bitcoin (BTC) climbed by over $2,000 on Dec. 15 as markets quickly reacted to news that the United States Federal Reserve would raise interest rates and curtail its bond-buying program starting in 2022.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $49,310 on Bitstamp, its highest since Dec. 12, when the price briefly popped above the $50,000 mark.
The momentum came after the Fed hinted that it could raise its benchmark rate three times next year, surpassing investor expectations. It would also increase the pace of its asset purchasing taper, the central bank said.
Concerns previously focused on such plans having a negative impact on both traditional and crypto markets, thanks to drying up of the "easy"
Read more on cointelegraph.comAbout this in other media
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