Connect with us

Business

Fed’s Powell Offers Bitcoin Bulls Glimmer of Hope as Price Drops to $45K – Coindesk

Bitcoin prices slumped to a 12-day low on Tuesday, but the Federal Reserve may help stem further losses with a pledge to keep rates low.

Published

on

Article feature image

Bitcoin prices slumped to a 12-day low on Tuesday, extending Monday’s double-digit fall from record highs.
The biggest cryptocurrency by market value reached as low as $45,047 at 09:10 UTC the lowest level since Feb. 11 having dropped from the record high of $58,332 to below $48,000 on Monday, according to CoinDesk 20 data.
Bitcoin looked overbought at record highs and due for correction more so, as the cryptocurrency’s appeal as inflation hedge was somewhat diluted by the recent rise in the inflation-adjusted…

Click here to view the original article.