{"id":170441,"date":"2023-02-02T11:26:26","date_gmt":"2023-02-02T11:26:26","guid":{"rendered":"https:\/\/precoinnews.com\/?p=170441"},"modified":"2023-02-02T11:26:26","modified_gmt":"2023-02-02T11:26:26","slug":"bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started\/","title":{"rendered":"Bitcoin Surges Above $24K After Fed Chair Says \u2018Disinflationary Process Has Started\u2019"},"content":{"rendered":"<p>On Thursday (2 February 2023), the Bitcoin price surged above the $24,000 level for the first time since 16 August 2022, partly thanks to the comments made yesterday by Federal Reserve Chair Jerome Powell during the FOMC press conference.<\/p>\n<p>Yesterday, after the Fed announced a 25 basis points interest rate hike, Powell said during the FOMC press conference (which started at 7:30 p.m. UTC):<\/p>\n<p>\u201c<em>We can now say, I think for the first time, that the disinflationary process has started\u2026 we see it really in goods prices.<\/em>\u201c<\/p>\n<p>https:\/\/youtube.com\/watch?v=3Iv4aCN0OOo%3Ffeature%3Doembed<\/p>\n<p>According to data from TradingView, the Fed\u2019s dovish stance helped Bitcoin to spike above the $24,000 level around five hours after the start of the FOMC press conference, reaching as high as $24,193 by 00:50 a.m. on 2 February 2023:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/cryptoglobe.s3.eu-west-2.amazonaws.com\/2023\/02\/BTCUSD_2023-02-02_10-25-23-1280x501.png\"><\/p>\n<p>Here is what some popular crypto analysts are saying about Bitcoin\u2019s recent price action:<\/p>\n<p>In an op-ed piece for the Wall Street Journal that was published yesterday, Charlie Munger wrote that Bitcoin should be banned:<\/p>\n<p>\u201c<em>Instead, it\u2019s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity\u2026 The U.S. should now enact a new federal law that prevents this from happening.<\/em>\u201c<\/p>\n<p>MicroStrategy\u2019s Co-Founder and Executive Chairman Michael Saylor pointed out that that the FASB is planning to issue a proposal requiring companies to use fair-value accounting for Bitcoin:<\/p>\n<p>Source: <a href=\"https:\/\/www.cryptoglobe.com\/latest\/2023\/02\/bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Thursday (2 February 2023), the Bitcoin<\/p>\n","protected":false},"author":3,"featured_media":170440,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Surges Above $24K After Fed Chair Says \u2018Disinflationary Process Has Started\u2019 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/bitcoin\/bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Surges Above $24K After Fed Chair Says \u2018Disinflationary Process Has Started\u2019 - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"On Thursday (2 February 2023), the Bitcoin\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/bitcoin\/bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-02T11:26:26+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Surges-Above-24K-After-Fed-Chair-Says-\u2018Disinflationary-Process-Has-Started.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/bitcoin\/bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started\/\",\"url\":\"https:\/\/precoinnews.com\/bitcoin\/bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started\/\",\"name\":\"Bitcoin Surges Above $24K After Fed Chair Says \u2018Disinflationary Process Has Started\u2019 - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2023-02-02T11:26:26+00:00\",\"dateModified\":\"2023-02-02T11:26:26+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/bitcoin\/bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/bitcoin\/bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/bitcoin\/bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin\",\"item\":\"https:\/\/precoinnews.com\/category\/bitcoin\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Bitcoin Surges Above $24K After Fed Chair Says \u2018Disinflationary Process Has Started\u2019\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bitcoin Surges Above $24K After Fed Chair Says \u2018Disinflationary Process Has Started\u2019 - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Surges Above $24K After Fed Chair Says \u2018Disinflationary Process Has Started\u2019 - Pre Coin News","og_description":"On Thursday (2 February 2023), the Bitcoin","og_url":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started\/","og_site_name":"Pre Coin News","article_published_time":"2023-02-02T11:26:26+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/02\/Bitcoin-Surges-Above-24K-After-Fed-Chair-Says-\u2018Disinflationary-Process-Has-Started.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started\/","url":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started\/","name":"Bitcoin Surges Above $24K After Fed Chair Says \u2018Disinflationary Process Has Started\u2019 - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2023-02-02T11:26:26+00:00","dateModified":"2023-02-02T11:26:26+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/bitcoin\/bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-surges-above-24k-after-fed-chair-says-disinflationary-process-has-started\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin","item":"https:\/\/precoinnews.com\/category\/bitcoin\/"},{"@type":"ListItem","position":3,"name":"Bitcoin Surges Above $24K After Fed Chair Says \u2018Disinflationary Process Has Started\u2019"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/170441"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=170441"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/170441\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/170440"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=170441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=170441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=170441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}