ANOTHER CRYPTO CRASH? FED Chairman Jerome Powell Hints At What's To Come This Year.

An economic meltdown can have both direct and indirect effects on the cryptocurrency market in various ways.

When there's a meltdown, the availability of funding and investment opportunities within the cryptocurrency industry is limited, leading to blockchain projects finding it more difficult to secure funding as well as investors becoming more cautious.

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FED chairman's speech at the US House Financial Services Committee’s semi-annual monetary policy hearing points in one direction: more volatility is possible this year.

According to him, raising interest rates two more times this year will be necessary to control price pressure.

The last interest rate hike had a heavy negative impact on the crypto market.