Why Bitcoin Hit $8k Ahead of FOMC Update, Wiping Out Coronavirus Losses

Bitcoin closed above $8,000 this Wednesday, wiping all its Coronavirus-induced losses from mid-March. The cryptocurrency’s move uphill came ahead of Jerome Powell’s press conference at 1430 ET today. The Federal Reserve chairman is likely to discuss strategies to tame the contracting economy, with investors expecting him to keep the interest rates lower. Bitcoin jumped above…

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Author: toutiao