US President Joe Biden’s decision to refuse to admit that the country has officially entered into a recession pushed the crypto market upwards once more. As a result, bitcoin, ether, and many other assets tapped multi-week highs. The crypto market is known for its volatility, and bitcoin proved that in the past week or so.
The community expected even more price fluctuations as the US Federal Reserve was to announce the latest interest rate hike. Volatility indeed came, but, unlike the previous times, BTC headed north. In just a few hours, it broke above $22,000 and touched $23,000. More news from the US pushed it further upwards as Joe Biden said the second consecutive negative quarter in terms of GDP – usually described as a recession – was not indeed a recession.#togrp7