• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: Regulators Seek Crypto Blood, They Shatter Annual Record With 58 Legal Actions
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Regulators Seek Crypto Blood, They Shatter Annual Record With 58 Legal Actions
bitcoin stocks Powell speech
Advertisement

Bitcoin Reclaims $17K, Stocks Soar Following Powell Speech In Washington

Tony Spilotro by Tony Spilotro
2 months ago
in Bitcoin
0
Advertisement

Bitcoin price quickly pushed above the $17,000 level and major US stock indices exploded higher on the heels of some of the most dovish remarks by Fed Chair Jerome Powell in nearly a year. 

Don’t Fight The Dovish Fed Tone Change

The quote “don’t fight the Fed” has never been more proven than in recent months, as the hawkish tone the head of the US central bank has sent cryptocurrencies and equities into a bear market.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

Bitcoin fell from $69,000 to $15,500 after the Fed revealed its plan to increase interest rates and tame the worst consumer price inflation in over 40 years. 

Related Reading: Bitcoin Looking At ‘Major Move’ In Coming Days, These Technicals Show

In a speech today at Hutchins Center on Fiscal and Monetary Policy, Brookings Institution, Washington, DC, Fed Chair Jerome Powell revealed the central bank would slow its aggressive rate hikes, beginning as soon as this upcoming December’s meeting. 

“It makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down,” Powell said. “The time for moderating the pace of rate increases may come as soon as the December meeting,” he added. 

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

BTCUSD_2022-11-30_17-09-35

Bitcoin began to climb following Powell's remarks | Source: BTCUSD on TradingView.com

Bitcoin And Stock Market Sees Bounce But Beware

Markets responded strongly to the upside, with Bitcoin price taking back the $17,000 level. Ethereum gained 6% and other altcoins saw a relief rally. The Dow Jones Industrial Average closed 2% higher, the tech-heavy Nasdaq climbed 4%, and the S&P 500 added 3% and reclaimed its 200-day moving average. 

Despite the seemingly dovish talk from Powell, he reiterated the job isn’t done and restrictive rates are likely to remain for the longer-term. 

Related Reading: Bitcoin Adjusted For Inflation Brings Bull Market ROI To Zero

“It is likely that restoring price stability will require holding policy at a restrictive level for some time. History cautions strongly against prematurely loosening policy,” he said. “We will stay the course until the job is done,” Powell concluded. 

Markets are turning optimistic and pricing in a potential half-point rate in December. The next Fed meeting takes place on December 14. 

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

Related Posts

Tesla

Bitcoin Crash: Tesla Suffers $140 Million BTC Loss, SEC Filing Shows

3 hours ago
Bitcoin bull

Is $1 Million Possible For Bitcoin? Here’s What This Analyst Thinks

15 hours ago
bitcoin S&P 500 spx btc

Why Tightening Correlation With S&P 500 Could Be Bullish For Bitcoin 

15 hours ago
Bitcoin For The Wealthy, 80% Of Millionaires Want It, Survey Shows

Bitcoin For The Wealthy, 80% Of Millionaires Want It, Survey Shows

17 hours ago
Bitcoin

Bitcoin Exchange Netflows At Neutral Values As Market Reaches Balance

22 hours ago
crypto

Crypto Advice: 8 Of 10 High Net Worth Individuals Seek Guidance On Bitcoin

1 day ago

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Ganja Guruz NFTs: The Dark Horse Challenging Invisible...

    2 hours ago
  • Blofin Exchange Elevates Trading Experience with...

    2 hours ago
  • Big Eyes Coin Breaks Biggest Crypto Presale In Recent Years...

    2 hours ago
  • The 7 Hottest Cryptos That You Should Have On Your...

    3 hours ago
  • B2Broker Launches Match-Trader White Label Solution for...

    3 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.