Bitcoin Rises 1.5% and Gold Up by 0.86% Following FED’s 50 Basis Point Cut
The post Bitcoin Rises 1.5% and Gold Up by 0.86% Following FED’s 50 Basis Point Cut appeared on BitcoinEthereumNews.com.
After the Federal Reserve announced a reduction of 50 basis points, Bitcoin experienced a 1.5% surge, while gold rose by 0.86%. This decision by the Fed, aimed at stimulating economic growth, has sparked positive reactions in the cryptocurrency and precious metals markets. In the cryptocurrency sphere, Bitcoin’s increase reflects investor confidence as they seek alternative assets amidst shifting economic policies. `$BTC` is gaining traction as a hedge against inflation, making it an attractive option for savvy investors. Similarly, gold, often regarded as a safe haven during economic uncertainty, witnessed a boost in value. The rise to `$XAU` indicates market participants are looking for stability in their investment portfolios. This synchronous upward movement in both Bitcoin and gold highlights a growing trend where traditional and digital assets can respond positively to changes in monetary policy. Investors will be closely monitoring upcoming economic indicators to gauge the continued impact of the Fed’s decision. Source: https://en.coinotag.com/breakingnews/bitcoin-rises-1-5-and-gold-up-by-0-86-following-feds-50-basis-point-cut/
Filed under: News - @ September 18, 2024 7:24 pm