✅Fed Chairman J. Powell:
1️⃣Bitcoin is a speculative asset, it is a competitor of gold, not the US dollar
2️⃣There is no reason to worry about the economic situation in the USA, the economy is in surprisingly good shape - it is the envy of the whole world
3️⃣The unemployment rate is low and inflation is decreasing, our task is to achieve a balance so that inflation continues to decrease (due to the restrictive measures of the Fed), but so that the labor market is not affected (unemployment does not increase)
4️⃣I am satisfied with the macro data, they are good, except that there is some pressure on low-income families.
✅Comment: The head of the Fed reassured investors, said that the economy is under control and in surprisingly good shape, there is no need to worry about it (removed fears of a recession and now investors will be optimistic, and their appetite for risk will increase), for the first time in history the head of the Fed mentioned BTS in the key of a competitor of gold (this increases attention, interest and acceptance, may indicate that it is time to shift the emphasis to altcoins), considers its the main task is to achieve a "soft landing", without a recession, a sharp collapse, as in March 2020 (Covid Dump), and also noted for the first time that the situation of families with low incomes is difficult and getting more difficult (this may be a hint of rapid printing of money or other measures to stimulate the economy - tax breaks, direct payments, programs - and the new money is green candles), as a result, if the main reports from the labor market on Friday and inflation (December 12) will not spoil everything, we get:
1️⃣Complete peace and confidence of investors until next year (the main component of euphoria and madness)
2️⃣The likelihood that the US Fed will announce some stimulus measures to improve the situation of low-income families
3️⃣Decreasing the rate in December (money will become cheaper, money will become more and at first there will be optimism about this, and then new liquidity will push the markets to growth)
4️⃣References from the main "master and boss of the dollar" of cryptocurrency and BTC (fiction)
✅There is only one question: when, if not now? 🚀