The price of bitcoin exceeds 22 thousand US dollars
The cryptocurrency market surged along with traditional markets in Asia overnight as investors reacted to the updated leadership of the US Federal Reserve System on Thursday, saying that fears of a recession are exaggerated.
According to CoinGecko, bitcoin has gained 8%, trading above $22,000 in the last 24 hours.
Both the Dow Jones Industrial Average and the S&P 500 closed up more than 1% yesterday, while the Nasdaq Composite index closed 2.3% higher, ending four consecutive days of growth - the longest streak since March.
Fed Board member Christopher Waller supported another 75 basis point interest rate hike this month and a 50 basis point hike next month to combat inflation in his address to the National Association of Business Economics on Thursday.
St. Louis Fed President James Bullard approved the decision Waller, but both officials downplayed concerns about a recession, and Bullard said there was a "good chance" of a soft economic landing.
Cryptocurrency and traditional markets have suffered in recent months due to fears of rising inflation, an impending recession, uncertainty caused by the operation in Ukraine, and a growing list of cryptocurrency companies in line for bankruptcy.
https://coin-signal.com/cryptonews/the-price-of-bitcoin-exceeds-22-thousand-us-dollars/
#Bitcoin, #Cryptonews, #Dollars, #Exceeds, #Price
#CryptoNews