Bitcoin Makes Surprise Climb As Fed Discloses 0.75 Point Rate Bump

Bitcoin Makes Surprise Climb As Fed Discloses 0.75 Point Rate Bump


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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