Bitcoin hit a high of $67,800, showing a recovery of more than 10%.
Ethereum has also recovered after falling 8% in the early stages.
Michael van de Poppe noted that the extremely positive sentiment around #bitcoin is a good thing.
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Major cryptocurrencies #rose on Wednesday night after U. S. Federal Reserve Chairman Jerome Powell took a dovish tone and maintained his forecast of three rate cuts this year, even as the central bank faced better-than-expected inflation data.
Bitcoin hit a high of $67,800, recovering more than 10 percent from levels reached hours earlier.
Ethereum's exchange rate also rose after falling 8 percent in early trading, triggered by reports that the #Ethereum Foundation is under secret investigation by an unnamed government and that the U. S. Securities and Exchange Commission (SEC) is considering classifying the asset as a security.
The Federal Open Market Committee (FOMC) meeting on Wednesday ended with policymakers leaving interest rates unchanged and deciding not to cut them. The decision removed the possibility of a more aggressive approach that had raised concerns about asset prices.
The central bank said in a statement that "the Committee does not consider it appropriate to lower the target range until it is confident that inflation is moving steadily toward 2 percent.
CoinDesk reports that the Ethereum Foundation, a Swiss non-profit organization central to the Ethereum ecosystem, is currently under scrutiny from an undisclosed "government agency," according to the group's repository on GitHub.
The global cryptocurrency market is currently valued at $2.31 trillion and has fallen 5.34% in the last 24 hours.
The U. S.
The Dow Jones Industrial Average 30 index rose 401.37 points (1.03%) to close at 39,512.13. The S&P 500 Index rose 0.89% to close at 5,224.
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