Crypto market is going up, here’s why, according to $DOGE co-founder BillyM2k and krugermacro
, has taken to Twitter to notice a growth of the cryptocurrency and stock markets, urging the community to suggest their reasons for that.“Clear reason: Fed pivot”
Kruger has shared what he believes to be the cause of the current bullish reverse in the crypto and stock prices – the recent “subtle, yet impressive” change of the Fed’s policy from hawkish to dovish.On July 17, Kruger tweeted about it, stating that the upcoming week would be good for risk assets, which include Bitcoin and other cryptocurrencies.
Back on that day, chairman of the US Fed Reserve Jerome Powell announced the new goal of the Fed to return to the 2 percent inflation level, reducing it from the present record high of 40 years. This came after the US central bank first raised the key interest rate by 25 basis points March, 50 basis points in May and then recently by 75 points in June in an attempt to harness the rapidly rising inflation.
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