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Saturday, April 17, 2021

Bitcoin Eyes $60K Price After Fed & Morgan Stanley Announcements

The bulls of Bitcoin are again making a push towards the price level of $60,000 since the time that the Federal Reserve, as well as Morgan Stanley, have made the public announcements which seem to have a positive impact on BTC price.

The market of cryptocurrency has regained its optimism on 17th March after the economic forecast has become brighter following the comments of the Federal Reserve. They have suggested that there is a chance of a hike in the rate of interest in the year 2022 in case economic indicators and employment continue their upward movement.

Bitcoin Makes Upwards Rally

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According to the reports of TradingView Markets reveals that Bitcoin is struggling under the level of $57,000 in the initial trading hours. However, the announcement from the Federal Reserve has sparked an upwards rally that drove Bitcoin to the $58,243 intraday high.

The leading cryptocurrencies are now experiencing a bullish momentum and it was seen that Morgan Stanley, the institutional giant in the banking sector, might soon be providing a few of the investors the access to 3 funds enabling clients to possess BTC.

There was more validation in support of continuing the present bullish pattern from the stock to flow BTC creator of PlanB who believes that the crypto will surpass $100,000. In addition, it might reach a $288,000 high.

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After the slow trading on Wednesday, the equities market witnessed a surge in activities after Jerome Powell, Fed Chair, made the announcement that sparked upward rallies in the crucial indices and stocks.

At the moment, FIL has upgraded by 40.7%, reaching $89, BAT increased 44%, touching an all-time high at $1.36, and MANA up by 7.3% to $1.01.

The market cap of the entire cryptocurrency is $1.8 trillion with BTC having a 60.9% dominance rate.

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