Why Bitcoin, Ethereum, Dogecoin, and Solana All Popped Today

Travis Hoium, The Motley Fool

16 December 2021 at 2:58 pm·3-min read

Why Bitcoin, Ethereum, Dogecoin, and Solana All Popped Today

The value of cryptocurrencies continued to spike on Thursday morning, following a trend that began Wednesday after the Federal Reserve announced it will end some of its asset purchases and boost the fed funds rate several times in 2022. Bitcoin (CRYPTO: BTC) was up by much as 5.1% over the last 24 hours, Ethereum (CRYPTO: ETH) rose 10.4%, Dogecoin (CRYPTO: DOGE) popped 6.5%, and Solana (CRYPTO: SOL) led the way by climbing 13.7%. Crypto values started rising around midday on Wednesday when the Federal Reserve announced that it will scale back more rapidly on the bond-buying program that it put in place early in the pandemic.

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