Given Bitcoin’s major price movement, financial gurus are now theorizing on the possible influence of Federal Reserve monetary policy modifications on the cryptocurrency market.
Bitcoin’s price has increased by 30% since the beginning of the 2023, surpassing $ 23,000 after dipping below $ 16,000 late last year.
The recent rally in the alpha coin was triggered by a decline in the U.S. Consumer Price Index, indicating a likely deceleration in interest rate hikes.
Nevertheless, the founder and former chief executive of the BitMex crypto exchange has cautioned that Bitcoin and the market for crypto assets may experience a decline if the U.S. Federal Reserve does not adjust its monetary policies.