cryptonews: Bitcoin has resisted a fall below $20,000 — despite the Federal Reserve warning that interest rates may need to go higher than previously thought. 👀
Bitcoin has resisted a fall below $20,000 — despite the Federal Reserve warning that interest rates may need to go higher than previously thought.
Investor sentiment soured on Wall Street after he warned at a news conference that further action will be required to tackle stubborn inflation. Powell said: The latest hike means that the Fed's base rate now stands at 3.75% to 4% — a level that hasn't been seen in Bitcoin's 14-year existence. One remark that particularly caused alarm bells was this: The Fed would rather go too far on interest rate hikes than do too little.While inflation was once regarded as a temporary phenomenon, central banks around the world are now having to contend with the fact that the cost-of-living crisis may be much harder to solve.
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