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Bitcoin Turns Positive as Fed Keeps Rates Near Zero

Bitcoin has rallied over four percent after the Fed signaled that its easy policy wouldn’t change anytime soon.

Bitcoin is poised to finish this day in the green after the Federal Reserve announced that it wouldn’t raise interested rates until late 2023, keeping its monetary easing policy in place.

The largest cryptocurrency rallied over four percent after Fed Chairman Jerome Powell mentioned that the U.S. central bank would continue providing support “for as long as it takes” during his press conference.

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Image by tradingview.com

The Fed will keep increasing bond purchases by at least $80 billion per month.

While inflation currently remains below 2 percent, it is expected to hit 2.2 percent later this year.

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