Bitcoin Price Prediction as Fed Chair Powell Says May Be a 'Couple of Years' Before Rates Can Be Cut – Will BTC Crash to $20,000 Soon?
As Bitcoin continues its volatile journey, the latest statement from Federal Reserve Chair Jerome Powell has sparked concerns among investors.
Powell's remarks suggesting that it may be a "couple of years" before interest rates can be cut have left many questioning the future trajectory of Bitcoin's price.
With this uncertainty looming, there are growing speculations about a potential crash that could drive Bitcoin's value down to $20,000.
As the crypto market eagerly awaits further developments, the question remains: Will Bitcoin face a significant downturn in the near future?
The US Federal Reserve has chosen to maintain the federal funds rate at its current level this month, following a string of 10 consecutive rate hikes since March 2022.
The decision reflects positive economic indicators, including job gains and low unemployment rates, while the Fed's focus remains on reducing inflation to the target range of 2% to 3%.
Although inflation has moderated, with the annual rate at 4%, the Fed aims to achieve 2% inflation and full employment.
While the announcement led to stock market declines, gold, and silver prices rose. Fed Chair Jerome Powell indicated that more rate increases are likely by year-end, disappointing crypto market participants hoping for a rally.
The "hawkish pause" suggests future rate rises, impacting crypto markets already facing declining liquidity.
The world's largest digital asset exchange, Binance, and its US affiliate, Binance US, have agreed to negotiate a settlement that would avoid the need for the court to decide whether or not to order the platform's assets to be frozen.
US District Judge Amy Berman Jackson stated at a hearing on Tuesday that the exchange and the Commission "aren't that far
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