King crypto money The unit turned its direction upward again and the $62,000 level was exceeded. The daily peak is $62,320. For now, the price is stalling around $62,000. Fed Chairman Powell It is increasing amidst the statements made by. So why?
Why Is Bitcoin Rising?
Powell He says that they now see the risks of excessive tightening and that it is the right time to start cutting interest rates. Powell said that it is time for cuts and also mentioned that they have been balancing inflation by keeping interest rates at the peak for over a year. The WSJ report includes the following details; A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
“The Federal Reserve Chair gave the strongest signal yet that interest rate cuts are coming. The pace of monetary tightening in the coming months will depend on the balance of risks in the U.S. economy. “We do not want or welcome further cooling in labor market conditions,” Powell said.
It is expected that volatility will continue until the statement is over. Therefore, investors should be prepared for the risk of sudden liquidation in altcoins. Powell’s speech started about 18 minutes ago and we will see the statements of the Fed members in the following hours.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
