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Bitcoin rises to $ 49,000 as the Fed leaves rates unchanged

December 20, 2021 - Around 2 mins mins to read

Bitcoin rises to $ 49,000 as the Fed leaves rates unchanged.

Bitcoin rises to $ 49,000 as the Fed leaves rates unchanged

Federal Reserve officials decided to leave rates unchanged at Wednesday’s meeting, keeping rates between 0 and 0.25%.

Bitcoin price rose 3.4% on the news and hit a new intraday high of over $ 49,000 on the Bitstamp exchange. The bulls currently have resistance in sight at $ 52,000.
BTC
Image from tradingview.com

According to a statement from their officials, the Fed will keep interest rates near zero until full employment is reached. Speaking at a press conference, Chairman Jerome Powell said it was unclear how long the labor shortage would last:

The economy has made rapid strides towards maximum employment. How long the labor shortage will last remains unclear, especially as more waves of the virus emerge.

Policy makers’ median forecast suggests three rate hikes by 2022. Three more rate hikes are expected in 2023.

The central bank has also doubled the rate of bond purchases, which is falling by $ 30 billion a month.

Bitcoin rises to $ 49,000 as the Fed leaves rates unchanged

Market observers are looking for signs that the Fed is determined to finally withdraw its economic support amid ongoing inflation concerns. The central bank was well on its way to abandoning its massive stimulus package, which many believe was driving up the prices of assets like Bitcoin, in March.

Powell stated that the Fed will not hike rates until the tapering is over:

Basically we now have two more meetings to complete the cone.

In particular, the Fed is no longer using the controversial word “transient,” criticized by former Twitter CEO Jack Dorsey and other experts, to describe inflation.

Last week, the consumer price index showed prices were rising as fast as they have been since 1982.

That level of inflation is incompatible with price stability, Powell said.

# Cryptocurrencies

#Bitcoin

#bitcoin price

crypto

price

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Bitcoin

Bitcoin rises to $ 49,000 as the Fed leaves rates unchanged

Bitcoin rises to $ 49,000 as the Fed leaves rates unchanged.

Bitcoin rises to $ 49,000 as the Fed leaves rates unchanged

Federal Reserve officials decided to leave rates unchanged at Wednesday’s meeting, keeping rates between 0 and 0.25%.

Bitcoin price rose 3.4% on the news and hit a new intraday high of over $ 49,000 on the Bitstamp exchange. The bulls currently have resistance in sight at $ 52,000.
BTC
Image from tradingview.com

According to a statement from their officials, the Fed will keep interest rates near zero until full employment is reached. Speaking at a press conference, Chairman Jerome Powell said it was unclear how long the labor shortage would last:

The economy has made rapid strides towards maximum employment. How long the labor shortage will last remains unclear, especially as more waves of the virus emerge.

Policy makers’ median forecast suggests three rate hikes by 2022. Three more rate hikes are expected in 2023.

The central bank has also doubled the rate of bond purchases, which is falling by $ 30 billion a month.

Bitcoin rises to $ 49,000 as the Fed leaves rates unchanged

Market observers are looking for signs that the Fed is determined to finally withdraw its economic support amid ongoing inflation concerns. The central bank was well on its way to abandoning its massive stimulus package, which many believe was driving up the prices of assets like Bitcoin, in March.

Powell stated that the Fed will not hike rates until the tapering is over:

Basically we now have two more meetings to complete the cone.

In particular, the Fed is no longer using the controversial word “transient,” criticized by former Twitter CEO Jack Dorsey and other experts, to describe inflation.

Last week, the consumer price index showed prices were rising as fast as they have been since 1982.

That level of inflation is incompatible with price stability, Powell said.

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