The bitcoin ($BTC) gains quickly retraced and the largest cryptocurrency was changing hands around $16,429 as of press time, HeleneBraunn reports
) briefly jumped about 1% after minutes from the Federal Reserve’s November meeting showed that the majority of central bankers prefer a slower pace of rate hikes going forward.
Bitcoin rose from $16,448 to $16,565 after the report was released at 2 p.m. ET but the bigger chunk of those gains was quickly retracted. As of press time, the largest cryptocurrency was changing hands around $16,429., or a 0.75 percentage point, in November – the fourth rate hike of this magnitude – but Fed Chair Jerome Powell said in a press conference after the decision that a slower pace would be appropriate soon.
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