Cryptos and stocks surge higher after the Fed holds rates, projections steady

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.

At the closing bell, the S&P, Dow, and Nasdaq all finished in the green, up 0.89%, 1.03%, and 1.25%, respectively.) rebounded from a dip to $62,000 shortly before Fed Chair Jerome Powell spoke and has rallied back above $66,000, with bulls looking to continue to push the price action.“Bitcoin rallied leading into the FOMC meeting and after, pairing the earlier losses of the last week,” said Steven Lubka, Head of Private Clients at Swan Bitcoin, in a note to Kitco Crypto.

While news headlines have been focused on the ‘big correction’ for Bitcoin, legendary trader Peter Brandt says the long-term chart shows it's business as usual, but warned that those chasing “crap coins” with leverage should be careful if a deeper correction does manifest.“In the end, there will be only one crypto standing – that is the legend $BTC,” he added. “Target on this run is 65%. All others are pretenders. In the end, 99% of memes, crapcoins even most other macro caps will=ZERO.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Kitco NEWS Reports on Mining Companies Snowline Gold and NexGen EnergyKitco NEWS provides accurate and objective reporting on mining companies Snowline Gold and NexGen Energy. Snowline Gold has seen significant growth due to outstanding drill results and backing from B2Gold. NexGen Energy has experienced a surge in stock value with the rise in uranium prices.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Cryptos soar, stocks slide as Bitcoin ETFs and inflation worries drive market splitThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Stock market today: Stocks waver after Fed's preferred inflation gauge meets expectationsInvestors are on edge for the PCE reading, seen as key to assessing how quickly the Fed will start cutting rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: US stocks stall as Fed decision day arrivesCaution prevailed with focus on whether the Federal Reserve has shifted its view on the number of rate cuts this year.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Trading Game Plan: Fed decision, bitcoin targets, gold bull, and stock market levelsThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Stock market today: Premarket trading on Wall Street muted as markets await Fed's rate decisionHONG KONG — Trading on Wall Street was quiet and mixed early Wednesday as markets awaited a decision on interest rates from the Federal Reserve and possible ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »