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I awoke this Saturday morning to one thing stunning. 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 probably on the horizon.
I’ve been watching key help ranges all week. I stored 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 thing
Powell stated the “shifting steadiness of dangers could 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 danger property like Bitcoin and Ethereum
