It’s way past time for Plan B….we are witnessing what some are calling the beginning of the Greater Depression…the non-federal Federal Reserve announced moments ago an interest rate hike of 75 basis points….the highest since 1994…

Bitcoin Volatility Skyrockets as Fed Announces 75 Basis Point Rate Hike

• At the time of writing, Bitcoin trades at $20,457. It shot as low as $20,079 at about 18:10 UST, after reaching up to $21,222 at about 17:55 UST.
• Bitcoin has a tendency to experience volatility the moment the Federal Reserve announces an interest rate decision. However, the announcement’s true effects are often not felt until a few days after it takes place.
• Last month, the Fed announced a 0.5% rate hike – the highest in 22 years at the time. Bitcoin pumped briefly after the reveal but dumped in the following days alongside the stock market.
• The opposite may be true of this hike, however. Some believe that markets may have already priced in the rate hike after CPI inflation was reported at 8.6% last Friday.
• This alone suggested that the central bank may hike rates faster than previously planned, despite ruling out 75-point increases at the previous meeting.
• At the Federal Open Markets Committee Press Conference today, chairman Jerome Powell confirmed that the Fed will continue working “expeditiously” to bring inflation down.
• That includes reducing the Fed’s balance sheet size and implementing more 75 basis point rate hikes in the future. However, decisions will be made “meeting by meeting.”

https://cryptopotato.com/bitcoin-volatility-skyrockets-as-fed-announces-75-basis-point-rate-hike/