Bitcoin Rises After Fed Rate Hike

Bitcoin Rises After Fed Rate Hike
·3 min read

Most cryptocurrency prices moved up on Wednesday after the Federal Reserve hiked rates by 0.75 percentage point in a continued effort to ease inflation. Bitcoin, the most popular cryptocurrency, rose 1.5% to $19,365 at last check, while ethereum was off 0.2% to $1,353, according to CoinDesk. The reaction from crypto investors was largely muted as bitcoin and ethereum also dipped slightly before reversing course after Fed Chairman Jerome Powell spoke about the latest rate hike.