Bitcoin rises to $23.2K as Jerome Powell repeats ‘disinflationary process’ comment
The Fed expects “significant” declines in inflation to occur this year. It will take “not just this year but next year to get down to 2%,” the central bank’s inflation target, Powell said.
The Fed Chairman’s statement helped calm the market’s concerns about interest rates. Bitcoin (BTC) has risen 1.72% in the last 24 hours to $23,200, while Ethereum has risen 2.89% to $1,680.