cryptocurrency Although investors focused on the Fed’s statements, one of the biggest reasons for the decline was overlooked. There is a potential for this decline reason to disappear after about 2 hours. Let’s quickly examine the important details and latest developments you need to know.
Why Did Cryptocurrencies Fall?
Besides the Fed statements, one of the reasons for the decline in cryptocurrencies was the government shutdown. As you know, the debt ceiling was constantly postponed and the government was allowed to continue its activities. This situation has occupied the agenda of cryptocurrency investors many times.
So what happened during the days when the government shutdown was discussed? Cryptocurrencies crashed. This was one of the main reasons for the decline experienced today. trumpDemocrats who want to put us in a difficult situation are making things worse, and Trump just said in his statement, “If there is going to be a shutdown, do it now.”
Not only are the new government in a difficult situation, government shutdowns are also very bad for the economy. This situation is hitting crypto along with stock markets.
However, in 2 hours, that is, at 18:00 Turkish time, the Parliament can vote on a temporary solution against the closure. This problem, which is solved at the last minute every time, is likely to disappear in the same way again and the steps to be taken in this direction will be taken after 18:00. crypto- It may pave the way for an increase in currencies.
December 21 Deadline
The bipartisan bill included many details, including providing more than $100 billion in disaster relief to help survivors of Hurricanes Helene and Milton. However, the growing debt ceiling debate, for which he constantly criticized the DOGE department, brought the process to an impasse. If there is no agreement by December 21, the government will shut down around this time tomorrow.
Yesterday, House Republicans were working on a new plan that Trump also supports, but it’s unclear whether it will pass. It seems likely that lawmakers will continue debating until the deadline. Voting in 2 hours cryptocurrency Although this is a development that investors will follow closely, we may see an announcement regarding the announcement of the solution within the next 24 hours.
This means more volatility in the coming hours. The hope is that this volatility will favor the bulls as markets have already priced in the worst.
Disclaimer: The information contained in this article does not constitute 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.
