Apart from Fed Chair Powell’s speech, investors will closely watch BOJ plans of rate hikes as the Yen carry trade unwinding led to major havoc in the market last month.
Following the Fed interest rate pause announcement, the price of BTC broke major price support, raising concerns about a continued decline.
The US central bank chairman Jerome Powell has stated that there would be two more rate hikes in 2023. Bank of America expects these hikes to come in July and September.
IMF director Kristalina Georgieva highlighted the stability of lending while urging the US Federal Reserve to consider further actions in response to an uncertain economic climate.
In his speech, Barr also highlighted the need to prioritize establishing stablecoins oversight in the US. Notably, he referred to these assets as “unregulated private money.”
While the US Fed has almost decided on the interest rate hike for this month following the two months of running inflation.
Bitcoin (BTC) price seems to have stuck below $7,000 while gold is having a field day thanks to a seven-year all-time high. Will gold outperform Bitcoin at this time?
Bitcoin price doesn’t look very optimistic now as it is below $5,000 again. However, just recently after the news about the rate cut from teh Fed, it was gaining massively.
Bobby Lee thinks that Bitcoin price will reach $500,000 and its market capitalization will hit $8 trillion by 2028.