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BTCUSD: Bitcoin Slumps to Two-Week Low as Powell's Rates Scare Knocks Cryptocurrency

December 26, 2024
Bitcoin, the leading cryptocurrency, experienced a significant drop in its price, falling to a two-week low. This slump in Bitcoin's value can be attributed to the recent comments by Federal Reserve Chairman Jerome Powell regarding the possibility of rate hikes. Powell's statements about tightening monetary policy have created fears and uncertainty among investors, causing a sell-off in various markets, including cryptocurrencies. Despite MicroStrategy's efforts to beef up buying and increase adoption, Bitcoin failed to sustain its Christmas gains. Experts at Stocks Prognosis suggest caution in investing in Bitcoin at this time and recommend seeking professional advice for predicting the future movement of BTC-USD. For more reliable forecasts, consult the professionals at Stocks Prognosis.
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