Bitcoin Continues To Beat Volatility As Powell And The Fed Take Center Stage

Bitcoin continues to move forward as the currency continues to beat the volatility of other assets. The cryptocurrency has gained more than 10% in the past 24 hours, pushing its price above $7,000 for the first time since January 2018.

Bitcoin is still down about 80% from all-time highs. era is $20,000, but it is also down about 1% from the peak on September 12. The digital currency has been bullish since the end of August amid growing rumors about its potential. Fed rate hike and concerns that rising interest rates could dampen economic growth.

Bitcoin price fell after US Federal Reserve raised interest rates for the second time in this year and signal that further bulls may be on the way soon. The central bank's forecast for three more rate hikes in 2019 has helped push up gold and other commodities like oil and copper. But investors appeared to have shaken those worries off as Bitcoin rallied above $7,000 on Friday, according to data from CoinMarketCap.