Bitcoin Spikes as Fed Leaves Rates Unchanged

Bitcoin Spikes as Fed Leaves Rates Unchanged

Bitcoin, the largest cryptocurrency, rallied to an intraday high of $44,031 after the U.S. Federal Reserve announced its decision to leave interest rates unchanged.18 participants of the Federal Open Market Committee believe that the rates have to rise next year. The FOMC also announced that tapering of its bond purchases may begin soon: If progress continues broadly… a moderation in the pace of asset purchases may soon be warranted.The flagship cryptocurrency slipped below Sept. 21 in the aftermath of a two-day sell-off triggered by Evegrande contagion fears that swept over global financial markets earlier this week.

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