Jerome Powell’s second term as Fed Chair could hurt crypto, says Mike Novogratz

Jerome Powell’s second term as Fed Chair could hurt crypto, says Mike Novogratz
ôîòî ïîêàçàíî ñ : coinjournal.net

2021-11-27 16:20

Jerome Powell getting a second term as Fed chair has changed the crypto macro sentiment, according to Mike Novogratz He says Fed acting on inflation with speed could slow down markets, including cryptocurrency Despite the potential for a price slowdown, institutional investors are still bullish on crypto, he told CNBC’s “Crypto Night in America”

Galaxy Digital CEO Mike Novogratz believes that Fed Chair Jerome Powell’s second term could spell some bad times for cryptocurremcies in terms of the market.

According to the billionaire investor, among the biggest in the crypto space, Powell’s nomination could see the macro outlook of crypto flip south as more people adopt a bearish view of the industry.

In an interview with CNBC’s “Crypto Night in America”, Novogratz said the Fed Chair’s reappointment might see him “act more like a banker,” suggesting that Powell may take a stance markedly differing from one who might seek reappointment.

The investor says the current situation with rising inflation in the US and across the world could force the Fed to act. If the US central bank moves to hike interest rates sooner than expected as suggested in the recently released Fed meeting minutes, then not only will it hurt stocks but also have ripple effects in the crypto markets.

"That would slow all assets down. It would slow the Nasdaq down. It would slow crypto down, if we have to start raising rates much faster than we thought,” Novogratz told CNBC.

The outlook for crypto may worsen in the short term given major cryptocurrencies like Bitcoin and Ethereum are already struggling with downward pressure. 

Despite this, the Galaxy Digital boss says big money is still destined for crypto investments.

According to him, the crypto community could see institutions invest staggering amounts of money into Bitcoin and other crypto projects. Among those already looking at the burgeoning investment space are sovereign wealth funds and global pension funds, he added.

The post Jerome Powell’s second term as Fed Chair could hurt crypto, says Mike Novogratz appeared first on Coin Journal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 4.67 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Öåíà â ÷àñ íîâîñòè $ 0.0095806 (-100%)

chair jerome crypto fed powell term second

chair jerome → Ðåçóëüòàòîâ: 105


Ôîòî:

The U.S. Will Not Mirror China’s Ban On Cryptocurrencies, Fed Chair Powell Tells Congress

The United States will not follow the example of China in imposing an outright ban on cryptocurrencies but is looking at regulating stablecoins, the Fed Chairman said on Thursday. The Fed Has “No Intention” Of Banning Cryptocurrencies The United States Federal Reserve does not intend to ban all cryptocurrency transactions, the chairman Jerome Powell emphasized […]

2021-10-1 01:29


At Times Bitcoin Felt Like A “Somewhat Frothy Market,” says Fed Chair Noting Stablecoins “Growing Really Fast”

While worried about that, the Fed is promising “powerful support” through monetary policy. Jerome Powell also called for “appropriate regulation” of stablecoins and getting the digital dollar right, rather than fast, because the US is “not in danger of losing” the reserve currency status.

2021-7-17 17:53


Binance, Enedex, Other Big Brands Branch Out From Crypto To Equities, Commodities, More

It isn’t just Bitcoin, Ethereum, and other cryptocurrencies that are in a full-blown bull market. The stock market has also reached a “froth,” according to US Fed chair Jerome Powell. This is why major crypto companies like Binance, FTX, and more are layering in tokenized stock shares as yet another option for digital-savvy inventors and […]

2021-5-14 20:54


Ôîòî:

‘Control the Pandemic’ – Fed Chair Jerome Powell Predicts the Entry of a ‘Different Economy’

Federal Reserve Chair Jerome Powell told participants at the Bay Area Council Business Hall of Fame Awards Ceremony on Tuesday that the economy will never be the same after Covid-19. According to Powell, the use of accelerated technology will change the way the global economy operates as his commentary was quite similar to the recent […] The post ‘Control the Pandemic’ – Fed Chair Jerome Powell Predicts the Entry of a ‘Different Economy’ appeared first on Bitcoin News.

2020-11-19 08:05