The FED could help the number one cryptocurrency to reach a stunning $100,000 as one of the key factors for the renewed trajectory. According to the latest reports, we read more in the latest cryptocurrency news about what the Federal Reserve can help with.
The United States Federal Reserve became really popular over the past few weeks and some are wondering whether the agency is intentionally propelling Bitcoin to new highs this year. Just a couple of days ago, Jerome Powell who is the chairman of the FED announced that their decision to try and maintain the benchmark for federal funds interest rates within the range of 2.5%.
However, some financial experts and analysts noticed that the Federal Open Market Committee (FOMC) made a couple of changes in the policy statement. The most relevant change was the term ‘patient’ which was replaced by another policy language to ‘’closely monitor the implications of incoming information for the economic outlook.’’ For many crypto users, this is a hint that the inflation and geopolitical changes are increasing the FED officials to try and advance the cases for an interest rate cuts. The investors, on the other hand, are not betting that the Fed could lower the rates even now in July, putting the dollar under pressure.
In contracts, investors believe that the Federal could help bitcoin higher with the rate cut:
‘’That has been viewed as a positive for bitcoin as well as gold, which are looked at as alternative currencies that should rally when central banks take actions that reduce the value of government-backed currency.’’
Also, as noted in the coming altcoin news, the Central Banks’ perspective about Bitcoin might be changing towards a more positive outlook. Last week, the FED Chairman Jerome Powell and the Bank of England governor Mark Carney, advised some of the central banks that they should look at bitcoin with an open mind.
Moreover, Carney made it clear that he favors stricter controls. At a conference organized by the European Central Bank, Carney pointed out that ‘’anything that works in this world will become instantly systemic and will have to be subject to the highest standards of regulations.
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