News 
Coin Information 
About us 
Bitcoin enthusiasts brace for a potential surge as the US Federal Reserve's expected rate cut in September threatens to drive the dollar to new lows, sparking excitement in the crypto market.
Fed's Rate Cut Could Spark a Bitcoin Market Rally
In light of the recent decline of the US dollar versus key currencies, expert trader Peter Schiff has criticized the possibility of a September Fed rate drop as a misstep.
Consumer price declines, an indicator of declining inflation, have lent credence to the idea that the Federal Reserve may soon decrease interest rates. Market participants anticipate the Federal Reserve's stance on cryptocurrencies, with Bitcoin's stakeholders predicting a bullish phase.
Peter Schiff Warns Against Fed Rate Cut, Citing Weak Dollar
Peter Schiff said that the Federal Reserve should not cut rates in September. A weak dollar and other macroeconomic reasons, as well as loose monetary policy, were cited by him in a tweet from August 27th. The US dollar hit a 13-year low vs the CHF just before he spoke.
The majority of market analysts expect inflation to moderate in September, which would coincide with the first-rate reduction. As a result of them, annual consumer prices and worldwide trends were both lowered.
Recent remarks by Federal Reserve Chair Jerome Powell hinted at rate reductions and a change in policy direction toward the 2% target. Powell said that the rate reductions would be contingent upon incoming data and the balance of risks, even though many market players anticipated the projections.
US Dollar's Weakness Raises Concerns Among Investors
Amid this, worries spread as the dollar fell versus other major currencies. Weak macro forecasts were caused by the dollar's decline vs the GBP and EUR.
The financial markets react positively to interest rate reduction because a greater amount of capital will be available to invest in riskier assets.
Coingape reports that market observers have predicted that rate reduction and other variables will lead to the next surge in cryptocurrency prices this year. In addition, the dollar's and other centralized currencies' macro problems have increased Bitcoin's appeal as a store of value.
Bitcoin Seen as a Hedge Against Inflation Amid Macro Concerns
As a hedge against inflation in the face of bad macro attitudes, citizens in many jurisdictions are turning to the major cryptocurrency. In response to Schiff's worries about X, crypto users have suggested that Bitcoin might solve the problems caused by centralized finance.
Comment 0