Bitcoin Recovers as Trump May Control Fed
Major cryptocurrencies recovered Tuesday because people expect lower interest rates from the Federal Reserve.
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Cryptocurrency markets got better on Tuesday. Bitcoin went back over $111,000 and Ethereum reached $4,600 again. This happened because people think the Federal Reserve will cut interest rates soon.
Bitcoin increased 1.33% to $111,266. Ethereum grew 4.11% to $4,559. Other coins like XRP and Dogecoin also went up.
The whole crypto market is now worth $3.86 trillion. This is 2.64% more than yesterday. People think Trump might have more control over the Fed now.
This could mean lower rates, which is good for crypto. However, some experts warn that Bitcoin could still fall to $180,000.
Original Article
benzinga.comhttps://www.benzinga.com/crypto/cryptocurrency/25/08/47348978/bitcoin-recovers-amid-trumps-potential-fed-majority-ethereum-dogecoin-xrp-also-gain-analyst