Sell The Rumor Buy The News, Bitcoin Rallies 5% After U.S. Fed Meeting
The Federal Reserve of the United States announced a rise in interest rates by 50 basis points on Wednesday, May 4, to combat rising inflation. The news was very much on the expected lines, and the equity market in the United States, as well as the cryptocurrency market, both rallied shortly afterward. The price of […]
Bitcoin Price Fluctuates on News that Fed is Winding Back Inflation
With rising inflation in response to the pandemic and lockdowns, the Federal Reserve has finally decided to slow the money printer. As of this month, the central bank has indicated that it will begin to pull back its monthly bond purchase program of $120 billion, which was previously disclosed. While the news was welcomed by […]