Just In: US Dollar Shows Signs Of Weakness, Time For A Crypto Bull Run?

Following the Fed’s interest rate hike announcement on Wednesday, the dollar fell sharply by 0.72% while Bitcoin rose 4.22%. On widely expected lines, the Fed hiked interest rate by 75 basis points. The Federal Open Market Committee said gains in labor market have been robust recently. It added that the unemployment rate remained low. Reacting to the decision, the cryptocurrencies reacted positively with an increase of 4.22% and 5.33% for Bitcoin and Ethereum respectively. This raises hopes in the crypto community on the possibility of a crypto bull run.