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I wakened this Saturday morning to one thing lovely. Ethereum hit a brand new all-time excessive at $4,888.
The cryptocurrency markets skilled a surge after Jerome Powell’s speech at Jackson Gap. He hinted at coverage changes coming in September. Translation? Charge cuts are doubtless on the horizon.
I’ve been watching key assist ranges all week. I saved telling myself to not go bearish at these essential zones. Yesterday proved precisely why persistence pays off within the cryptocurrency market.
Why This Fed Information Adjustments Every part
Powell stated the “shifting steadiness of dangers might warrant coverage adjustment.” That’s Fed-speak for “we’re reducing charges quickly.”
Right here’s what this implies for crypto traders like us:
Cheaper cash flows into threat belongings like Bitcoin and Ethereum
