Bitcoin Price to Climb Beyond $1,300 With Expected US Fed Rates Increase
On March 3, Federal Reserve Chair Janet Yellen announced at the Executives’ Club of Chicago that the Fed is likely to increase interest rates later this month. As a result, Bitcoin price is also likely to increase, as the value of reserve currencies including the Japanese yen and Chinese yuan falls. When the Fed increases its rates, the value of the US dollar naturally increases. Even with a speculation or a forecast from the Federal Reserve, the value of the yen, yuan and the Korean won would fluctuate. Yellen announced: “We currently judge that it will be appropriate to gradually....
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