Bitcoin (BTC) rose by over $2,000 on Dec. 15 as markets quickly responded to news that the United States Federal Reserve would increase interest rates and curtail its bond-buying program beginning in 2022.
Data from Cointelegraph Markets Pro and TradingView delivered BTC/USD shooting $49,310 on Bitstamp, its highest since Dec. 12, when the price shortly popped past the $50,000 mark.
The momentum arrived after the Fed hinted that it could increase its benchmark rate three times next year, exceeding investor expectations. The central bank stated it would also increase the pace of its asset purchasing taper.
Matters previously concentrated on such plans hurting traditional and crypto markets, thanks to drying up the “easy” availability of liquidity. Nevertheless, the information appeared to lay tension over the policy to rest in the event.
Popular Analysts Remained Cautious
From an equity standpoint, now they have to concentrate on earnings, margins, and development. CNBC cited Jim Caron, a senior portfolio manager and chief strategist on the global fixed Income team at Morgan Stanley Investment Management, as speaking.
It’s kind of a sigh of relief to the equities market, who thought it might be much more assertive. It’s kind of what they were considering anyway.
With that, the S&P 500 counted modest gains, while altcoins entered Bitcoin is inching up just beneath 5%. At the time of writing, BTC/USD was converging at about $49,000.
Cointelegraph contributor Michaël van de Poppe claimed that the BTC bottom was on Dec. 4. However, William Clemente opted to hold off on advising a market entry at existing prices.