Cryptocurrency market turns green after Fed meeting
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer Cryptocurrency market turns green after Fed meeting
The crypto market, like other financial markets, was subjected to pressure, and its community is awaiting the decisions of the Federal Reserve.
At the much-awaited meeting of policy makers at the highest level in the United States of America, the Federal Reserve today announced that it will keep interest rates on hold and accelerate the tapering process.
Which had a direct impact on the cryptocurrency market and made it back in the green and make a healthy leap indeed.
The big cap cryptocurrencies are up around 1-10% at the time of writing this article.
Most cryptocurrencies, including Bitcoin, have already dropped more than 25% ahead of the Federal Reserve meeting.
Speculation about the summit exploding spread fear among investors and pushed the Fear Index to its maximum level at 16 on December 11, 2021.Read:A new way to send digital currencies without the Internet in Venezuela … Get to know it
For retail investors, the current news from the Federal Reserve seems to have doubts about macroeconomic policy changes affecting cryptocurrencies and we may see their impact more clearly on crypto prices in the coming hours.
What do these ads mean for the global market?
As reported by the channel The islandThis announcement is based on the assumption that the economy is making good progress and the labor market is recovering well.
As Federal Reserve Chairman Jerome Powell stated and emphasized this, which also stated in his speech:
The current unemployment rate of 5.9% underestimates the true size of unemployment because the number of Americans who are working or actively looking for work remains low.
He also stated that the central bank is ready to reconsider the current monetary policies if inflationary risks appear on the economic recovery.
Fed policy makers see rising inflation as a result of supply bottlenecks forming as businesses reopen once, likely temporary.
In short, to put it another way, this decision relies on the assumption that high inflation is not yet a concern and that economic growth will slowly catch up.Read:HTC Smartphone Capable of Running a Full “Node” on the Bitcoin Network
This decision is expected to boost investor confidence and we may see relief in stock and cryptocurrency prices.
As a final note, the effect of the Federal Reserve on the crypto market was not mentioned in the past, as the crypto market was not affected by it and its decisions much, but in the recent period it has become so, and the possible explanation is the institutional adoption of crypto, where institutions carefully anticipate everything issued by the Federal Bank and follow it accordingly. Sometimes individuals reverse.
In a unique initiative, the Arabian Beauty Company launches NFT and grants 50% of the intellectual property rights to a famous feature film
Japanese group SBI Holdings announces investment in cryptocurrency exchange Coinhako
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time