Cryptocurrency analysts name the reasons for bitcoin’s growth

Bitcoin has recovered after several days of correction, reaching $ 43,465 on the Binance exchange in a pair with the Tether USD (USDT) stablecoin. The price of BTC $56,501.78 Bitcoin -2.28% Market capitalization $1.11 trillion VOL. 24 hours $4.4 billion rose to $ 43,000 yesterday, December 14, and today it corrected to $ 42,630.

The first impulse of growth occurred at approximately 22:00 on December 13, when the decision of the US Federal Reserve to leave the discount rate unchanged was published. The total capitalization of the crypto market increased to $ 1669 trillion. Crypto assets from the top 10 ranking followed the growth dynamics of bitcoin.

During a press conference following the meeting, Fed Chairman Jerome Powell called further rate increases unlikely and said that officials are now discussing when to start cutting the rate. Powell pointed to significant progress in the fight against inflation. «Inflation has come down from its highs, and it has done so without a significant increase in unemployment. This is very good news,» the Fed chairman said.

Nevertheless, Powell reiterated the Fed’s readiness to further tighten monetary policy if necessary. He clarified that inflation is still too high and it will take some time for it to return to the 2% target. According to Powell, further success in this regard cannot be guaranteed.

The leader of growth among crypto assets with a smaller capitalization was the Bonk memcoin (BONK). While its price dropped by 25% when the listing was announced on Coinbase on December 13, it fully recovered the decline and grew even more strongly when trading actually began. The token’s daily price increase is over 125%.