Hey Guys,
If you're wondering why the crypto market was recovering and then suddenly crashed, the answer is the Federal Reserve's recent meeting and press conference. Chairman Jerome Powell managed to rug pull the markets again with all the stuff he said.
The Fed's summary of economic projections also doesn't look too promising. Its forecasts for GDP and unemployment suggest the US is headed into a serious recession. It's serious enough that Jerome seems to be shying away from questions about employment.
Obviously, a recession combined with rising interest rates is likely to do a number on the crypto market, but this ultimately depends on whether the Fed can stay the course. Be sure to stick around until the end to find out which scenarios could hurt or help crypto.
Enjoy!
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⛓️ 🔗 Useful Links 🔗 ⛓️
► Full Fed Press Conference: https://youtu.be/Q8FmkU6-fAM
► Federal Reserve Calendar 2023: https://www.federalreserve.gov/moneta…
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
