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Fed-Induced Volatility Pushed Bitcoin to New 3-Month Lows at $18K (Market Watch)

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Over $300 million worth of liquidations in the past 24 hours are the result of the enhanced volatility.

The price of bitcoin was rejected at $20,000 and slumped to $18,000 following the latest interest rate hike by the US Federal Reserve.

The altcoins experienced similar volatility, but most are actually trading in the green now. Once again, Ripple stands out as an impressive gainer.The past several days were quite painful for the bitcoin bulls, and the culmination came on September 19, when the asset plummeted to a three-month low of $18,300.to $19,000, where it spent most of the next few days. More volatility was expected yesterday as the US Fed was about to announce the latest increase in interest rates.

 

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Having a Federal Fund Rate of 4-5% is perfectly normal and historic. Stop the panic folks.

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 /  🏆 568. in PT

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