BREAKING: Bitcoin Remains Steady as Fed Announces Biggest Rate Hike in 22 Years – U.Today

Every investment and all trading involves risk, so you should always perform your own research prior to making decisions.

Bitcoin, the largest cryptocurrency, is up about 1% on the news, currently trading at $39,141 on the Bitstamp exchange.

As reported by U.Today, the Fed hiked the benchmark short-term interest rate by 25 basis points in March, but consumer prices persistently kept creeping up despite the fact that supply shortages moderated.

Additional 50 basis point hikes will be on the table during the upcoming meetings, according to Powell.

Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption.

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