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Bitcoin Investors “Fade the Fed” as BTC Pumps and Dumps Following Powell Speech – NewsBTC
Bitcoin saw some immense turbulence today that came about due to news regarding the Federal Reserve’s intention allow inflation to run high
Bitcoin saw some immense turbulence earlier today that came about due to news regarding the Federal Reserves intention to anchor interest rates near zero while they allow inflation to run high in the near-term to support the economy.
This instantly led macro assets like Bitcoin, gold, and other safe havens to rally, with BTCs price surging from lows of $11,200 to highs of $11,600.
As soon as it tapped these highs, however, the cryptocurrency plunged back down to its recent lows, signaling that…
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