The price of Bitcoin hasn’t seemed to notice the hawkish news throughout the week, having risen over 15% since putting in a low under $21,000 on Tuesday.
Secretary Yellen cited other metrics, like a strong labour market, in support of her argument that the United States isn’t in a recession, instead only admitting that the economy is “slowing down”. Fed Chair Jerome Powell also indicated that slowing the pace of interest rate increases could soon be appropriate, potentially giving investors enough hope to muster some bullish momentum.
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