On Wednesday, the Federal Reserve issued its latest interest rate increase in response to inflation. Federal funds rates have been hiked up to a target of 4.5%.

Surprisingly, the Fed’s projections for the duration and value of interest rates may be higher than predicted. Almost all board members estimate that an interest rate slightly above 5% will be appropriate for next year, even as far as Q4.

So, are prolonged and higher interest rates a new critical blow for bitcoin and crypto?

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