Crypto

Federal Reserve Cuts Interest Rates by 50 Basis Points, Bitcoin (BTC) Price Briefly Hits $61K

Photo of Carmen Brooke Martin Carmen Brooke Martin Follow on Twitter Send an email September 18, 2024
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Following a recent rate cut, cryptocurrency-related stocks saw significant gains on Wednesday. MicroStrategy (MSTR) experienced a 3.6% increase throughout the day, while shares of crypto exchange Coinbase (COIN) and investment firm Galaxy (GLXY) both rose by 2-3%. Bitcoin miners Marathon Digital and Riot Platform also saw gains of 1.6% and 3%, respectively. Leading the rally were TeraWulf (WULF), Bit Digital (BTBT), and Core Scientific (CORZ) with impressive 7% gains.

Investors in the cryptocurrency space are optimistic about the future, as evidenced by the positive performance of these stocks. The rate cut has spurred growth in the market, and companies across the sector are reaping the benefits.

Overall, the cryptocurrency market is showing resilience and continues to attract investors looking for opportunities for growth and profit.

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Photo of Carmen Brooke Martin Carmen Brooke Martin Follow on Twitter Send an email September 18, 2024
0 0 1 minute read
Photo of Carmen Brooke Martin

Carmen Brooke Martin

Finance Analyst Hello, my name is Carmen Brooke Martin and I am an expert finance journalist with a master's degree from New York University in Business and Economics. I'm passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry.What I am working on is to provide basic cryptocurrency education and benefits to the crypto community through video tutorials and written content.As a business developer, I help crypto projects structure and create a whitepaper that can stir investors' interest, advice on marketing strategies and promotions.

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