Ripple CEO: Fed Decision Regarding Interest Rates to Direct Focus to Crypto

[Lenipiw]

The Federal Reserve Chairman Jerome Powell made a shocking announcement during yesterday’s widely watched speech, in which he noted that the Fed will be allowing inflation to start running past 2%. This had far-reaching implications, influencing the price of assets like gold, crypto, and equities.

Although high inflation is overtly positive for Bitcoin in the near-term, investors faded the move, with the crypto rallying as high as $11,600 before losing its momentum and plunging down to lows of $11,150.

This decline was fleeting, as bulls have since erased virtually all of the losses that came about as a result of this movement.
Visit here: https://www.newsbtc.com/2020/08/29/ripple-ceo-fed-decision-regarding-interest-rates-to-direct-focus-to-crypto/