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ETH.CM=+24.10 (+1.53%)
BTC.CM=+658.10 (+2.80%)
The world’s largest cryptocurrency is down roughly 50% since the start of 2021.
CFOTO | Future Publishing | Getty Images
Bitcoin broke the $24,000 threshold for the first time in more than a month, as hopes of a rate hike less aggressive than feared from the Federal Reserve triggered a relief rally in cryptocurrencies.
The the world’s biggest cryptocurrency surged as high as $24,047 Wednesday, up more than 8% in 24 hours and trading at levels not seen since mid-June, according to Coin Metrics data.
Traders took comfort from the prospect of softer policy action from the Fed at its next rate-setting meeting.
The effects of tighter monetary policy from the U.S. central bank have weighed heavily on risky assets like stocks and crypto.
Bitcoin is still down roughly 50% since the start of 2021.
“This isn’t necessarily the end of the crypto bear market, but a relief rally for Bitcoin is long overdue,” said Antoni Trenchev, CEO...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...