Bitcoin and the rest of the crypto market have been in a festive mood in response to the U.S. Federal Reserve’s interest rate hike, sending both Bitcoin and Ethereum climbing in prices.
The Fed’s announcement has sent Bitcoin’s price up by 5%. As of this writing, Bitcoin is trading at $22,837, up 7 percent in the last 24 hours. More so, Ethereum’s price also spiked by 11.6%; hitting $1,550, data from Coingecko show, Thursday.
In fact, the entire crypto market is on a positive outlook with the total crypto market cap at $1 trillion.
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Bitcoin was down the past week with its price plunging below $21,000. But, with Fed’s latest 0.75% rate bump, the BTC price has skyrocketed once again.
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