IT engineer Billy Markus (Billy Markus), who in 2013 Jackson Palmer originally co-founded the meme coin DOGE as a follow-up to Bitcoin, summed up recent events in the world and the crypto industry on Twitter, saying " Things can always get worse," sarcastically following the thumbs up emoji. The statement drew a reaction from billionaire Elon Musk. Things got worse for Bitcoin, and not just for worse, and not just Wednesday, when the Federal Reserve raised interest rates by 75 basis points. Following the news, the leading digital currency BTC fell below $19,000, hitting a low of $18,293. As of today, BTC is trading at $19,113 after successfully recovering and hitting $1920 earlier today. Colin Wu, a Chinese digital currency journalist and blogger, quoted the Federal Reserve report as saying that "inflation continues to grow, reflecting supply-demand imbalances related to the pandemic, rising food and energy prices, and broader price pressures." Timely rate hikes put additional pressure on risky assets, including BTC. If Ribocoin defeats the US Securities and Exchange Commission, the entire digital currency industry will move towards a hyperbolic curve: David Gokhshtein This is when BTC starts to soar: Novogratz Galaxy Digital former Goldman Sachs fund manager Mike Novogratz said in a recent interview that once the Fed changes its policy from The hawks turn to monetary easing, and BTC will eventually start to rise. BTC managed to recover to the $24,000 level in August and early September, peaking at $24,588, after trading at its current level in July.
