Following the US Federal Reserve's decision and Jerome Powell's comments, Bitcoin is on the rise. Experts predict the asset could reach $150,000 or even $200,000 by year’s end.
FED Interest Rate Decision
The Federal Open Market Committee maintained the interest rate between 4.25% and 4.5%. This decision matched economists' and traders' expectations. The official statement noted that policy adjustments would be made as needed to meet the FED's goals.
Banks and Cryptocurrency Relations
Bitcoin's rise was accompanied by an uptrend in the cryptocurrency market. Jerome Powell stated that banks are capable of serving crypto customers if they handle risks properly. He stressed the importance of innovation and indicated that authorities won't hinder banks in this sector.
Optimism in the Crypto Industry
Powell's remarks came amidst expectations for crypto-friendly regulations. The Trump 2.0 administration shows support for the sector, with companies like CME Group planning to launch futures products. Investment firms are actively filing with the SEC to launch ETFs, including those focused on meme coins.
The Bitcoin rebound and Powell's commentary come as the asset reaches record highs. Experts acknowledge the influence of factors arising from a crypto-positive policy by the new president.
