Bitcoin Investors Are Waiting for FED Chair Powell! Here Are the Latest Expert Comments…
Less than 1 hour is left for FED Chair Jerome Powell's speech.
As of today, the agenda of traditional financial markets and the cryptocurrency sector includes the speech that US Federal Reserve (FED) Chair Jerome Powell will give at the Jackson Hole Symposium. This speech will start at 17:00 Turkish time.
Experts say that Powell's comments will determine policy for September and that Powell's interpretation of market data and the scale and timing of future cuts should be closely monitored for clues.
Any surprises in this speech could have significant consequences for the crypto market. A more aggressive rate cut discourse or a moderate outlook could initiate a strong upward momentum in crypto assets.
Ryan Lee, chief analyst at Bitget Research, said that the market could receive signals of "rate cut confidence" and "data dependence" from Powell's speech.
Ryan Lee Powell expects him to say in a special session this evening, “The Fed is close to cutting interest rates, but the extent of the easing will depend on the data ahead.”
As of now, Lee, an expert analyst, says that there is a 73.5% chance of a 25 basis point cut in September, while there is a 26.5% chance of a 50 basis point cut.
FED Chairman Jerome Powell’s statements in the coming hours may change these rates. The increasing possibility of a 50-point cut will positively affect the cryptocurrency sector.
*Continue to follow for developments!
