Fed Talks Down Bitcoin
Posted on 06/15/2023
Bitcoin has had a resurgence in 2023, increasing in value by 50% to over US$ 30,000 at one point. It remains a point of contention whether it is a safe haven asset or a risk asset. Unfortunately for “HODLers” Bitcoin has fallen following the U.S. Federal Reserve meeting. It is closer to US$ 25,000 now, and the potential for future rate hikes, as has been suggested, may further reduce the fuel in Bitcoin’s rocket. Interest rates are now above 5%.
