The price of Bitcoin increased to the highest figure in the last two weeks

According to Bloomberg, the price of Bitcoin increased ahead of the speech of Jerome Powell, the head of the US Treasury, which will be held today. It is possible that there are signs of the relaxation of the US central bank’s interest rate increase in Powell’s words.

The price of Bitcoin, the world’s largest virtual currency, increased by 3.7% in today’s trading and reached around $17,010, which is the highest figure in the last two weeks. The price of ether also increased by 4%. The value of some other virtual currencies such as Binancecoin and Dogecoin has also increased.

Powell is scheduled to speak at an event organized by the Brookings Institution in the coming hours. The head of the US Treasury is expected to announce a 50 basis point increase in the interest rate at the upcoming meeting of the US central bank after four increases of 75 basis points. Strict monetary policies and rising interest rates have been the main reason for the 63% fall in the value of large virtual capitals this year.

The virtual currency markets have not changed much and have been resistant following the bankruptcy of the Barrag FTX exchange at the beginning of this month. But there are concerns that the consequences of this bankruptcy will affect the virtual capital market.