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Why Bitcoin Is Falling Today

TheMotleyFool

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Over the last 24 hours, the price of Bitcoin (CRYPTO: BTC), the world's largest cryptocurrency, fell roughly 4.5% as of 2:02 p.m. ET after comments made yesterday by Federal Reserve Chairman Jerome Powell seemed to put the broader market on edge. The price of Bitcoin hovered around $39,335 as of this writing.

The markets are currently trying to gauge whether the Fed's planned hikes to its benchmark overnight lending rate, the federal funds rate, and the planned reduction of its balance sheet later this year will tip the economy into a recession.

Image source: Getty Images.

Source Fool.com

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