Bitcoin Survives Rate Hike, Zcash Explodes to New Heights
The cryptocurrency market has survived its first rate hike in three years, and Bitcoin's price has recovered to above $76,000. The US Federal Reserve raised interest rates unanimously with a 12-0 vote, but the impact on Bitcoin was minimal.
Before the Fed meeting, Bitcoin's price volatility was expected, but it ultimately held steady. On Wednesday, the cryptocurrency dipped to $75,000 before rebounding and now sits at $76,500.
The market capitalization of Bitcoin has recovered to $1.530 trillion on CoinMarketCap (CMC), while its dominance over altcoins has retreated slightly to 58.7%.