Cryptocurrencies prepare for Treasury Department ‘special measures’ after big Bitcoin and Ethereum price hikes

Bitcoin
Bitcoin
Ethereum, and other major cryptocurrencies have surged so far this year, with the cryptocurrency’s sudden $1 trillion price boom triggering bullish price predictions for 2023.

apply now Forbes CryptoAsset & Blockchain Advisor Navigating the Latest Bitcoin and Crypto Market Crash

Bitcoin’s price has risen to levels before the shock collapse of crypto exchange FTX, but these smaller cryptocurrencies have ruined the price.

Now, traders are betting that Bitcoin, Ethereum, and cryptocurrencies are just getting started, and US Treasury Secretary Janet Yellen has announced a “special The market is ready to implement the measures. Thursday, January 19th.

Brutal bear markets need up-to-date information the most! Sign up for free now crypto codex—Stay ahead of the market with our daily newsletter for traders, investors and anyone interested in cryptocurrencies

Forbes detailsGoing ‘Negative’ – Bitcoin Price Worst Case Scenario ExplainedTo billy bambrough

‘Extraordinary measures’ promised by former Fed’s Yellen could be triggered by financial market turmoil and U.S. reaching eye-popping debt ceilings raising risk of default Designed to avoid economic disaster. debt.

“Failure to meet our government’s obligations will cause irreparable harm to the American economy, the lives of all Americans and global financial stability,” Yellen said in a letter to lawmakers last week. .

But her measures will likely survive the government until June and feed so-called “risk assets” such as Bitcoin, Ethereum and other cryptocurrencies that plummeted last year when markets were “risk off.” I have.

“[The ‘extraordinary measures’] Clearly, there will be restrictions on the amount of new Treasury bonds that can be issued, which will reduce the supply of Treasuries and, all other things being equal, will push prices higher and yields lower.” Ciphers are now macros newsletter, said coin desk“Lower yields mean easier financial conditions, which is good for risk assets.”

SIGN UP NOW crypto codex— Free daily newsletter for those interested in cryptocurrencies

Forbes detailsFear and Greed: Why Bitcoin and Crypto’s Massive Rise Is Just BeginningTo billy bambrough

Bitcoin, Ethereum, and other cryptocurrencies have risen this year amid growing hopes that last year’s period of monetary policy tightening may come to an end. Last week’s inflation data showed that the pace of inflation has slowed following a series of severe rate hikes by the Fed.

“Bitcoin’s recent rally comes on the heels of last week’s inflation data showing the consumer price index fell 0.1% in December,” said Alex Lolli, chief executive of bitcoin rewards app Lolli. Adelman commented via email.

“This new downtrend in inflation suggests the Fed may ease interest rate rises and ease monetary policy in the coming months, boosting investor confidence and interest in Bitcoin. will continue to increase.”