Top Crypto Price Predictions As Jerome Powell Gives Dovish Jackson Hole Speech
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DISCLAIMER: This article is a SPONSORED Press Release and does not constitute Finbold’s editorial content. Crypto assets/products involve significant risks. Do not invest unless you are prepared to lose your entire investment. For a full disclaimer, please . Federal Reserve Chair Jerome Powell adopted a distinctively dovish stance in his Jackson Hole address on Friday. Unsurprisingly, stocks and crypto prices bounced following the central banker’s speech. The Bitcoin price rallied by 5% to trade as high as $65,000 while meme coins are seeing an even stronger uptick. For instance, the Popcat price is up by over 25% since the speech. Michael van de Poppe of MN Trading is projecting that Powell’s address may have started the next crypto bull run. Crypto price predictions from experts have altcoins and meme coins outperforming Bitcoin for the rest of this cycle. Even new meme coins such as PlayDoge could deliver outsized returns in the upcoming bull market euphoria. Jerome Powell Adopts Dovish Stance The often-hawkish Jerome Powell has officially pivoted to a dovish stance after two years of quantitative tightening. Powell announced that the time has come for the Fed to adjust its monetary policy. In a decidedly bullish Jackson Hole address, he claimed that the central bank no longer seeks or welcomes any additional cooling of the US labour market. ⚠️ JUST IN: *FED’S POWELL: ‘THE TIME HAS COME FOR POLICY TO ADJUST’ *POWELL: WE DON’T SEEK OR WELCOME FURTHER LABOR MARKET COOLING *POWELL: MY CONFIDENCE HAS GROWN THAT INFLATION IS ON PATH TO 2% pic.twitter.com/pd0zyFpV9i — Investing.com (@Investingcom) August 23, 2024 The Fed Chair’s stance isn’t surprising. The central bank’s tightening resulted in a weak July jobs report and a higher-than-expected unemployment rate, which sparked recessionary concerns. Powell’s address guarantees an interest rate cut in September’s FOMC meeting. In fact, the…
Filed under: News - @ August 24, 2024 3:07 pm