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What makes crypto a ‘healthy market,’ and one that ‘will continue to develop’
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The news of Jerome Powell’s renomination as the U.S. Federal Reserve Chair is expected to impact the broader markets. However, most analysts believe that it’ll be positive for the crypto sector.
Mike Bailey, director of research at FBB Capital Partners told Bloomberg,
“For die-hard crypto bulls, another Powell term may provide some confirmation bias, since these investors often view crypto as a hedge for loose Fed policy.”
We can recall that Fed Chair Powell had categorically specified in a congressional testimony that there are no plans to ban crypto. In contrast to China’s policy ban, Powell’s statement had come as a relief, since the U.S. SEC’s stringent approach also gave rise to numerous concerns.
In this regard, Chris Zuehlke, Cumberland
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