Late-July rate hikes triggered a Bitcoin surge

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Last Updated on August 26, 2022 by Bitfinsider

Now, the digital currency appears to be on a bullish streak, with the asset spiking around $3,000 in the last few days, though this surge coincided with news that the Fed raised interest rates again. This has happened several times in order to combat inflation, which is now at a record 9.1 percent in the United States alone. This means that inflation has reached a new 40-year high, and food and gas prices are continuing to rise above the clouds. Things have never been this bad, but bitcoin appears to be rising rather than falling further.

Many analysts and industry leaders have taken notice of the other Fed rate hikes in recent weeks. Many believe that rate increases are what caused bitcoin to fall in the first place. They also claim that the world’s most valuable digital asset failed the hedge tool test, which many others claimed it was completely capable of passing.

To combat rising prices, the Fed has consistently raised interest rates, and each time, bitcoin has suffered somewhat, though this time is different.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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