Bitcoin hits 19-month high of $39,000 as US Federal Reserve hints at policy easing

On December 1st, Bitcoin reached a new 19-month high of $39,000 on Bitstamp, following comments made by the United States Federal Reserve Chair, Jerome Powell, about the current state of the US economy and progress towards reducing inflation. Powell stated that it would be premature to conclude with confidence that the Fed had achieved a sufficiently restrictive stance, or to speculate on when policy might ease. However, Powell's cautious tone appeared to boost risk asset sentiment. While market expectations unilaterally favored a pause in hikes, some financial commentary resources remain cautious about the Fed's future actions.