For its part, in the case of Ethereum, the cryptocurrency is also on the rise and exceeds the support zone at $1,200. Polygon’s rise of 7% in the last 24 hours stands out.
These increases respond to Powell’s speech, highly anticipated in the markets. Jerome Powell revealed at the Brookings Institution in Washington that he will moderate his monetary policy, although interest rates will remain high “for a while” to contain inflation. His statements were celebrated by the market, as the Dow Jones, Nasdaq, and S&P 500 gained 2.18, 4.41, and 3.09%, respectively.
Meanwhile, cryptocurrencies rose between 3 and 5%, Bitcoin broke the floor of $17,000 dollars and Ethereum rose 5.66% to $1,300 dollars.
For the market, if these bullish expectations are maintained, a positive return could be expected for December, which so far has brought good news to investors. According to Cointelegraph, from 2011 to 2021, the month of December brought positive returns and on 4 occasions, in the red.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
