Fed Rate Hike is Making Crypto Investors Happy
#crypto #Fed #inflation #investors #bitcoin #knights #ether #knightbridge
"Cryptocurrency prices rallied Thursday following the Fed's decision to start raising interest rates for the 1st time since Y 2018" --Paul Ebeling
Wednesday, the Fed lifted its benchmark Federal Funds Rate from Zero to a target range of between 0.25% and 0.50%. That is not rockin the boat.
Bitcoin recaptured the $40,000 mark after Fed Chairman Powell signaled monetary policy was going to get restrictive (depending on the data) for the US economy, pushing the Buck sharply lower.
In the long term our outlook is pretty clear Bitcoin, Knights, Ether and some others are going up because inflation is running high and will continue to run high, as they are alternatives to traditional fiat or safe havens.
Have a happy, prosperous weekend, Keep the Faith!
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