FED Boost To Crypto Market Short Lived,
The crypto market initially responded positively
to the Fed 75 basis point interest rate hike,
but profits from that brief rally had been
erased by Friday morning,
The effect of the increase in FED Boost To Crypto Market Short Lived.
Manuel Jaeger told that the Fed’s
handling of inflation and the potential for
recession aren’t the only concerns for the market.
The biggest concern its to be a contagion risk,
and now happen to Celsius and 3AC maybe spread to other in the market,
or potential worse in the overall financial system.
Yeager believes the Fed printing massive
amounts of money hasn’t helped.
That money has to be channeled somewhere,
and a lot of that has been channeled into
the crypto markets, which also has led to
a lot of speculators entering crypto space
and hoping to make big gains.
Over the last ten years, crypto has seen many
crashes, but this time it’s the first time
where there’s a wide, wide spread of potential
He don’t believe that the markets will rebound
as strongly reaching new highs as we have seen before.
while there has been some bad behavior in the space,
he seeing positive signs towards regulation and that a recession
might actually help the industry come back stronger.