Bitcoin surged above 10,000 for the first time since September of 2019, following the Fed’s commentary that the central bank is taking a close look at digital currencies. There are concerns amongst central bankers that a decentralized currency that is not fully understood could be harmful to economic growth if left unchecked. Fed Chair Powell also said that with interest rates as low, and that the Federal Reserve might not have the ammunition needed to combat the next recession. Bitcoin might have reached overhead resistance but the uptrend appears to be in place.
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