Jerome Powell

Bitcoin

<p>The price of Bitcoin has recently experienced a significant increase following statements by Jerome Powell, Chairman of the FED, regarding a possible reduction in interest rates. This announcement had an immediate impact on the crypto market, leading to an increase in the value of Bitcoin, which reached unexpected highs.</p> 
<h2 id="h-fed-a-rate-cut-in-september">FED: A Rate Cut in September?</h2> 
<p>Jerome Powell indicated that the FED <a href="https://www.cointribune.com/en/federal-reserve-fed-rate-cut-big-impact-on-crypto/" target="_blank" rel="noreferrer noopener">might consider a rate cut</a> in response to signs of economic slowdown and declining inflation. The FED Chairman stated that the direction of rate cuts will depend on incoming data and evolving outlooks. Markets are thus anticipating a FED easing in its fight against inflation, with a 32% probability for a 0.50% cut and a 67% probability for a 0.25% cut in September.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1"> 
 </div> 
</div> 
<p>This prospect has been welcomed by crypto investors, who see this measure as a growth opportunity for digital assets. Indeed, lower interest rates make traditional investments less attractive, prompting investors to seek alternatives like Bitcoin.</p> 
<div class="affiliate-button"> <a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noreferrer noopener">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noreferrer noopener">This link uses an affiliate program.</a> 
</div> 
<h2 id="h-bitcoin-s-immediate-reaction">Bitcoin’s Immediate Reaction</h2> 
<p>Bitcoin’s reaction was swift and marked. <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noreferrer noopener">The price of BTC</a> surged by 1.6% within a few hours and is currently trading around $61,572. This increase also led to a rise in transaction volume, indicating that investors are increasingly confident in Bitcoin’s short-term growth potential.</p> 
<p>However, this spike in Bitcoin’s price is not without risks. Analysts warn against the inherent volatility of cryptocurrencies and remind that price fluctuations can be rapid and unpredictable. They advise investors to remain cautious and not get carried away by the excitement of the moment.</p> 
<p>Jerome Powell’s statements about a possible interest rate cut had a significant impact on Bitcoin’s price, highlighting <a href="https://www.cointribune.com/en/will-the-fed-let-the-markets-drop-by-80/" target="_blank" rel="noreferrer noopener">the importance of monetary policies on the crypto market</a>. While this increase is encouraging for investors, it is essential to remain vigilant in the face of volatility and the risks associated with such assets. The coming months will be crucial to see if this upward trend continues or if the market will face new fluctuations.</p>

Bitcoin Explodes as the FED May Cut Rates in September!

Table of Contents

Cointribune EN

Other articles published on Aug 23, 2024

Former TON Foundation Leaders Introduce $40M Fund TON Blockchain Growth

Turkey Enforces New Cryptocurrency Laws

Sony Introduces Soneium Blockchain Project

Colombia Launches Probe into Worldcoin’s Data Practices

China Extradites Architect of 100 Billion Yuan Crypto Scam

China extradites alleged mastermind behind $14B crypto fraud scheme

Join our free newsletter for daily crypto updates!