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Within the last hour, Bitcoin (BTC) price rallied to set a new all-time high at $29,000.
On Dec. 29 Bitcoin price attempted to push through a stiff resistance cluster at $28,500 but after rallying to $28,600 the price rejected with a sharp correction to $27,300.
A high inflation environment is creating more upside opportunities for Bitcoin as the cryptocurrency trades near its 11-month high.
Recent statements from the Fed officials confirm that they are targeting a 2 percent inflation by pledging not to raise interest rates in the medium-term.
Key Takeaways
Lil Yachty, one of the biggest rap artists in the world, is creating his own cryptocurrency.
The token will be released via Fyooz, a social money platform that brings fans closer access to their favourite artists.