Crypto Rises Following Fed Rate Hike
The price of Bitcoin and ether rose on Thursday following the Fed’s interest rate hike. The price of bitcoin rose 4.6 percent to $28,418.61, and ether rose 4.9 percent to $1,822.70. Analysts will be watching bitcoin’s second weekly close above $25,200 to predict where the cryptocurrency next move. The three major stock indexes closed higher on Thursday following Wednesday’s sell-off. On Wednesday, the central bank raised interest rates by a quarter point and signaled that its policy of rate hikes was coming to an end. The announcement boosted investor confidence that inflation was cooling.