Optimism returned to the cryptocurrency market on March 17 after brighter economic forecasts from the US Federal Reserve and comments suggesting the possibility of a rate hike in 2022 if employment and economic performance continue to improve.
Data from Cointelegraph Markets and TradingView show that Bitcoin fought below the $ 57,000 level in the early hours of trading until the announcement from the US Federal Reserve triggered a rally that saw BTC reach a high day of $ 58,243.
The bullish momentum for a better cryptocurrency began to emerge after it was revealed that institutional bank giant Morgan Stanley will soon give some investors access to three funds that will allow customers to own bitcoin.
Further confirmation of the continuation of the current beef market has come from stock innovator PlanB to bitcoin influx, which believes BTC will not “stop” at $ 100,000 and may hit an average price of $ 288,000 with a higher all-time high. … …
Traditional markets are rising, according to Powell
After calm trading early Wednesday morning, stock markets saw an increase in activity after comments from Fed Chairman Jerome Powell encouraged stocks and major indices to rise.
The S&P 500, Dow and NASDAQ ended the day with gains of 0.29%, 0.58% and 0.40% respectively. Ten-year US government bonds also rose 1.23% to 1.641.
Altcoins are becoming increasingly popular as shades of gray provide exposure
The number of coins identified by altcoins also increased after Grayscale Investments announced that they had added five new products to the range, giving access to Basic Attention (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL) and Livepeer token . (LPT).
The announcement raised prices for all projects involved, with Livepeer having the biggest impact as the price rose more than 260% from a low of $ 5.53 to a new full-time of $ 20.21.
At the time of writing, FIL increased by 40.7% to $ 89, MANA increased by 7.3% to $ 1.01, and BAT increased by 44% to reach a whole new high of $ 1.36.