Crypto Needs More Fed Easing To Rally
CryptoNewsTerminal Staff12 Aug, 2024
Crypto Needs More Fed Easing To Rally
Cryptocurrency analyst Benjamin Cowen believes that the crypto market needs to see more easing from the Federal Reserve in order to rally. In a YouTube video, Cowen said that "the tide needs to change" and that "we need to see more easing from the Fed" before the crypto market can start to recover. The Federal Reserve has been raising interest rates in an effort to combat inflation. However, this has also led to a sell-off in the crypto market, as investors have moved their money into safer assets. Cowen believes that the Fed will eventually need to pivot to a more dovish stance in order to support the economy. This would lead to lower interest rates and a weaker dollar, which would be positive for the crypto market. However, Cowen also cautioned that the crypto market is still in a bear market and that there could be more pain ahead before the market bottoms.
