Bitcoin recovers from Fed inspired slump

Last night as the Fed announced the outcome of their eagerly awaited policy decision and began reducing their bond buying program, Bitcoin took a rapid hit lower. The price of the lead cryptocurrency got smashed back close to 60k in a move that was so swift it was over almost as soon as it begun. The price fell to as low as 60,500, but plotting the exact low at all venues is as usual hard to say, because it might have set differing lows depending on which price provider one checks. Leaving that aside, it was a rapid move wherever one looks. The rebound back above 62k was equally fast and that rebound saw it rise back to around 63,500 as Jerome Powell concluded his post policy decision press conference. Today it has backed off slightly, dropping to 62,200 so far. It is currently trading at 62,485