Bitcoin (BTC) fell but still traded comfortably above $20,000 as investors chewed on a surprise gain in the latest US GDP report. The US Department of Commerce reported that gross domestic product rose 2.6% in the third quarter, instead of the 2.4% increase forecast. The surge followed two consecutive declines that put the economy in recession by traditional definitions and suggested the contraction was about to intensify. Central bankers have tried to rein in inflation without plunging the economy into a deep recession. The latest GDP indicated that their monetary tightening has yet to unfold its full effect. On Tuesday, BTC surpassed $20,000 for the first time since Oct. 5.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.