Fed Chairman Powell will discuss the state of the US economy and his Fed’s monetary policy plans in an upcoming speech, which may affect bitcoin prices.
Investors want to know what Powell has to say about the future of the US dollar, as interest rates play a key role in determining a currency’s value.
The Federal Reserve on bitcoin
Market experts expect a healthy drop in bitcoin’s value based on what Fed Chairman Jerome Powell says.
As the central bank of the United States, the Fed’s monetary policy has a significant impact on the economy and financial markets. The president’s speech, which investors and traders have been waiting for, has the potential to change the course of the bitcoin market.
If the president proposes a tougher monetary policy, the US dollar could appreciate and the price of bitcoin could fall.
However, it is important to note that the cryptocurrency market is known for its volatility and unpredictability. While Powell’s speech may have short-term implications, he is unlikely to dictate the long-term direction of bitcoin prices.
Chairman Powell’s upcoming speech could trigger a healthy drop in bitcoin’s value, but the cryptocurrency market is always subject to unexpected change and volatility.
