RATE Group | Bitcoin Reclaims $9.2K as Fed’s Unexpected Stimulus Plans Ignite Demand
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Bitcoin Reclaims $9.2K as Fed’s Unexpected Stimulus Plans Ignite Demand

30 Apr Bitcoin Reclaims $9.2K as Fed’s Unexpected Stimulus Plans Ignite Demand

Posted at 05:47h in Cryptocurrency News by

  • Bitcoin popped to fresh quarter highs Wednesday as the US Federal Reserve warned of a “medium-term” economic disaster.
  • The central bank decided to maintain its benchmark lending rates near zero while calling for further stimulus support from Washington.
  • The dovish outlook helped to send all leading assets higher, including the Wall Street index and Gold.

Bitcoin was among the biggest gainers Thursday as the Federal Reserve left benchmark lending rates near-zero and hinted at providing further stimulus if necessary.

bitcoin, btcusd, cryptocurrency, crypto

BTCUSD Pops over $9.2K in a Surprising Pre-Halving Rally | Source: TradingView.com, Coinbase

The anti-fiat cryptocurrency popped 4.98 percent to hit its seven-week high at $9,233 and maintained those gains further into the day. Its move uphill came even as the Fed painted a gloomier “medium-term” economic outlook led by the fast-spreading Coronavirus pandemic.

More Stimulus

Chairman Jerome Powell said in a press brief Wednesday that he expects the U.S. economy to…

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