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After an interest rate hike was announced: Bitcoin rally to over $ 49,000



Bitcoin surged above $ 49,000 shortly after the US Federal Reserve confirmed it would raise interest rates.


Bitcoin ( BTC ) climbed over $ 2,000 on December 15. Markets reacted very quickly to news that the US Federal Reserve would hike rates and cut its bond purchase program from 2022.


"Did we think"

Data from Cointelegraph Markets Pro and TradingView show the BTC / USD pair rose as high as $ 49,310 on Bitstamp. This is the highest level since December 12, when the price briefly climbed above $ 50,000.


This increase came about when the US Federal Reserve indicated that it would raise its key interest rate three times over the next year. That exceeded investor expectations. It will also accelerate the reduction in its bond purchases, the central bank said.


Previously there were concerns that such plans could have a negative impact on the traditional and crypto markets as it makes liquidity a little more difficult to access. However, the information has dispelled any uncertainty about such a move.


"From the perspective of the stock market they need to focus only on revenues, margins and growth now," Jim Caron, a senior portfolio manager and chief strategist at Morgan Stanley Investment Management, according to CNBC said .


"That's quite a relief for the stock market, which was expecting a much more aggressive approach. At least that's what we thought."


The S&P 500 rose slightly, while Bitcoin and Altcoins rose by almost 5 percent. At press time, Bitcoin was around $ 49,000. 


Well-known analysts are reluctant. Cointelegraph employee Michaël van de Poppe claimed that the BTC bottom was reached on December 4th. William Clemente, however, does not recommend entering the market at the current prices.


"My gut instincts tell me to buy BTC, but I'm sticking to my plan to buy at $ 53,000. You have to follow your plan," he said on Twitter .


A break out of the current trading range in December would be reached at $ 53,000. Bitcoin would then have a market capitalization of over $ 1 trillion again.


Ethereum climbs to over $ 4,000

Among the large cap altcoins, Solana ( SOL ) continues to lead in terms of gains. At the time of going to press, the coin had already risen by 15 percent.



Ethereum ( ETH ), the largest altcoin by market capitalization, climbed again above the $ 4,000 mark in the wake of the market rally.


Against Bitcoin, ETH rose again above the 0.08 BTC mark, after previously hitting a low of 0.078.

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