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Despite the fears of traders and analysts earlier this week, the price of Bitcoin<\/strong> is back above $22,000<\/strong>. Indeed, BTC\/USD<\/strong> rose from around $21,600<\/strong> before the Fed’s announcements to $23,415<\/strong> overnight, an increase of around 8.45%<\/strong> in a few hours.<\/p>\n <\/p>\n Furthermore, the BTC\/USD<\/strong> broke through its 100 and 200 hour<\/strong> moving averages, which is a positive signal. In addition, the BTC\/USD is back at the 200-week<\/strong> moving average (MA), which is around $22,800<\/strong>. According to traders and analysts, yesterday’s rise could potentially confirm the start of a bullish recovery.<\/p>\n <\/p>\n The strong reaction in Bitcoin came after the US Federal Reserve<\/strong> unveiled a new rate hike. Indeed, the FED<\/strong> revealed a 0.75 basis point<\/strong> hike, one of the highest since 1994<\/strong>.<\/p>\n <\/p>\n Jerome Powell, Chairman<\/strong> of the FED<\/strong> said that the bank would continue to take a firm monetary stance to curb inflation, he also said that it may also end its recent rate hikes.<\/p>\n <\/p>\n However, the rise in the price of Bitcoin could potentially be reversed after the announcement of US growth<\/strong> figures and the prospect of the world’s largest economy falling back into recession<\/strong>.<\/p>\n <\/p>\n <\/p>\n <\/p>\n Read also >\u00a0Bitcoin: Why do investors continue to bet on this currency despite its recent fall?<\/a><\/p>\n <\/p>\n Featured photos : \u00a9 Press[\/vc_column_text][\/vc_column][\/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]<\/p>\n <\/p>\n <\/p>\n Despite the fears of traders and analysts earlier this week, the price of Bitcoin<\/strong> is back above $22,000<\/strong>. Indeed, BTC\/USD<\/strong> rose from around $21,600<\/strong> before the Fed’s announcements to $23,415<\/strong> overnight, an increase of around 8.45%<\/strong> in a few hours.<\/p>\n <\/p>\n Furthermore, the BTC\/USD<\/strong> broke through its 100 and 200 hour<\/strong> moving averages, which is a positive signal. In addition, the BTC\/USD is back at the 200-week<\/strong> moving average (MA), which is around $22,800<\/strong>. According to traders and analysts, yesterday’s rise could potentially confirm the start of a bullish recovery.<\/p>\n <\/p>\n […][\/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Fluxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…<\/p>\n<\/h4>\n
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The price of Bitcoin (BTC) rose considerably yesterday, Wednesday, following the announcement of a rate hike by the US Federal Reserve (FED).<\/h4>\n