Bitcoin Moving to Hit $24K

Bitcoin briefly hit $24K last night and is currently moving back towards – and hopefully over – $24K with the price at $23872 at the moment

Bitcoin Inches Closer To $24K As Fed Bares ‘Disinflationary Process’

“After consolidating above $22.600, Bitcoin has now broken its $23k resistance level after the US Federal Reserve announced the start of the disinflationary process of the US economy, raising the interest rate by another 25 base points. This acknowledgement has also led to the broader financial market to rise in the face of such dovish remarks.

According to Coingecko, Bitcoin rose 3.2% in the last 24 hours as the announcement of the rate hike hits the markets. However, the central bank is still not optimistic about their future moves this year with Federal Reserve chairman James Powell eyeing more rate hikes in the near future.

At a press conference, Powell indicated that the Fed may be winding down its rate hikes because of the slowdown in inflation.

‘We can now say I think for the first time,” he said, “that the disinflationary process has started.’”


Master Asked on February 2, 2023 in Bitcoin.
Add Comment