Hedge fund boss: Fed's 50 basis point rate cut will boost cryptocurrencies
The cryptocurrency market has received a lot of attention recently, especially in light of the potential rate cuts from the Federal Reserve. Joe McCann, CEO of hedge fund Asymmetric, said that cryptocurrencies are expected to rise if the Fed cuts interest rates by 50 basis points. However, if the rate cut is only 25 basis points, the crypto market may face downward pressure.
According to McCann's analysis, the current economic situation is different from the past. Although the market's expectations for rate cuts are relatively strong, he emphasized that the Fed's previous rate cuts mostly occurred in emergency situations, such as the 2008 financial crisis. He pointed out that the current GDP growth rate remains at around 3%, which provides support for potential large rate cuts.
As the Fed meeting approaches, we will wait and see how this policy affects cryptocurrencies and other risky assets. Please continue to pay attention to relevant developments to get the latest information and market trend analysis in a timely manner.
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