The rush to so-called safe-haven cryptocurrency appears despite concerns that the Federal Reserve would taper its $120 billion a month asset purchasing program.
Bitcoin jumps toward $49K amid fears 5%-plus inflation is here to stay MARKET ANALYSIS
Bitcoin (BTC) inched higher on Sept. 18 as the focus shifted to the Federal Open Market Committee's (FOMC) policy meeting in the wake of lower inflation numbers last Tuesday.
The BTC/USD exchange rate approached $49,000 on the Coinbase exchange, hitting $48,825 before turning lower on interim profit-taking sentiment. Nonetheless, the move uphill raised expectations that the pair would hit $50,000, a psychological resistance target, in the coming sessions.