‘They Won’t Be Immune’ — The Fed’s Stark Warning Sends The Price Of Bitcoin, Ethereum …

The bitcoin price retreated to a little over $40,000 and is now 5.5% down from this week’s high.

The crypto market dipped in light of Fed Chair Powell’s remarks yesterday.

“It is appropriate in my view to be moving a little more quickly… I also think there is something to be said for front-end loading any accommodation one thinks is appropriate.

As such, Goldman Sachs analysts believe the Fed’s actions will have a strong effect on cryptos.

To settle this debate, Coindesk’s George Kaloudis did an in-depth analysis, which looked into bitcoin’s price correlation to riskier equities and inflation news.

“While bitcoin’s hard money properties make it a risk-off asset for its supporters, investors see a risk-on asset because of its volatility and technology-like asymmetric price upside.

Powell’s remarks send a stark message that the Fed is taking inflation very seriously.

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