Fed Chair Jerome Powell Delivers Crucial Comments for Market, How Crypto Reacted

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Markets digesting Federal Reserve Chair Jerome Powell's recent comments on economy

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Can Bitcoin Reach $100,000 This Week? 136% Pepe Rally Makes Memes Look Like Jokes, Ethereum Second Skyrocketing Incoming?said in prepared remarks."The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully."The Fed's latest views come after inflation and employment figures were announced earlier Thursday. The producer price index grew by 0.2% in October, matching Dow Jones experts' predictions.

Although Bitcoin is showing signs of recovery, the price still remains down 1.84% in the last 24 hours to $89,000, while still up 17% on a weekly basis.Ethereum, Solana, Dogecoin and Shiba Inu all fell between 3% and 7% in the last 24 hours. Dogwifhat , Neiro and Mew reported even larger losses of 12% to 14%.

 

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