Tickmill: Cryptocurrency may receive a boost from the prospect of the Federal Reserve's suspension
Foreign exchange broker Tickmill Group has stated that Bitcoin and other cryptocurrency prices may rise as Federal Reserve Chairman Powell's speech last Friday lowered market expectations for another rate hike by the Federal Reserve at its June meeting. Tickmill analyst Hart stated in a report that Powell believes that a tightening credit environment means that the Federal Reserve does not need to raise interest rates to such high levels as initially envisioned
Foreign exchange broker Tickmill Group has stated that Bitcoin and other cryptocurrency prices may rise as Federal Reserve Chairman Powell's speech last Friday lowered market expectations for another rate hike by the Federal Reserve at its June meeting. Tickmill analyst Hart stated in a report that Powell believes that a tightening credit environment means that the Federal Reserve does not need to raise interest rates to such high levels as initially envisioned.
After Powell's speech, the market's expectation for a rate hike in June has dropped below 20%, compared to the previous expectation of 40%. If the market's expectation of the Federal Reserve suspending interest rate hikes in June increases, it will help boost risk sentiment and boost Bitcoin and other cryptocurrency assets.
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