Latest in the industry: Bitcoin's reaction to Powell and signals for growth
During a speech in Jackson Hole (Wyoming, USA), Fed Chairman Jerome Powell said that "the time has come to cut the rate." The pace of easing the monetary policy will depend on economic indicators.
The next meeting will be held on September 18. Market participants expect a 0.25% rate cut with a probability of 67.5%, and a 0.5% cut with a probability of 32.5%.
Bitcoin rose to $62,350 against the backdrop of Powell's speech, but soon rolled back.
The rate cut is considered a positive signal for financial markets and cryptocurrencies in particular, since the Fed ensures the creation of greater liquidity, which can be used to purchase assets.
