Bitcoin Flirts With Hurdle At $24k, Why It Could Be In Early Days Of Recovery

Bitcoin Flirts With Hurdle At $24k, Why It Could Be In Early Days Of Recovery


Bitcoin continues to trend to the upside over the short term as the crypto market hints at further gains. The bullish momentum seems to be driven by the positive earnings seasons and the U.S. Federal Reserve (Fed) interest rates hike.

The financial institution announced a 75 basis points (bps) increase in interest staying within market expectations. Bloomberg Intelligence’s Senior Commodity Strategist Mike McGlone believes the Fed might have marked the pivot for Bitcoin.

By staying within market expectations, the financial institutions might give room for the bullish trend to expand in the coming months. The Fed has been trying to mitigate inflation in the U.S. dollar, as measured by the Consumer Price Index (CPI).

Trending: BREAKING: Russian MIL Declares Ukraine The Origin of COVID-19!

This metric stands at a 40-year high but seems poised to

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend