Major coins traded in the green on Wednesday night following the announcement of federal reserve a rate hike of 25 basis points.
| cryptocurrency | gains +/- | Price (taken at 9:30pm EST) |
| Bitcoin BTC/USD | +1.69% | $29,055 |
| ether ETH/USD | +1.98% | $1,901 |
| Dogecoins DOGE/USD | +1.14% | $0.079 |
What happened: Bitcoin initially experienced a 1% decline after the interest rate hike. however, it has since recovered.
At the time of writing, the cryptocurrency’s global market cap was $1.20 trillion, up 1.44% over the last day.
The US stock market tumbled on Wednesday as the US Federal Reserve hiked interest rates. The S&P500 experienced a decline of 0.70%, and the Nasdaq Composite down 0.46%.
With the upcoming release of US jobs numbers on Friday, there is heightened interest in how this will impact the cryptocurrency’s price.
See More: Best Crypto Day Trading Strategies
analyst Remarks: “Not all risky assets are recovering after the Fed, Bitcoin is struggling as investors may anticipate further support to ease banking stress. Bitcoin still remains entrenched and unlikely to surge above $30,000 until the US gets some regulatory clarity,” he said Edward Moyasenior market analyst at OANDA.
According to the pseudonymous analyst pentoshi, the $25,000 region is where they are most interested in in terms of BTC. However, they raise concerns about a 3D/1W close below this level.
Pseudonymous Analyst Captain Faibik predicts a bullish wave for BTC after the FOMC meeting. He sees BTC reaching $32,800.
continue reading: Jim Cramer advises against using Binance, provoking violent reactions from Twitter users
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