Trump Talk About Fed Independence Don Cause Bitcoin Volatility
Di recent talk wey former President Donald Trump do about Federal Reserve Chair Jerome Powell and Fed independence don make cryptocurrency market dey waka up and down. For early trading, one tweet wey talk say dem no get plan to fire Powell kill hope wey some people get for loose monetary policy and bring Bitcoin down by about 1.5%. Later, Trump wider criticism about Fed autonomy make things dey uncertain, and Bitcoin bounce back more than 2% reach about $119,500. Traders dey look out for Fed minutes and the coming CPI data to get fresh clue about how interest rates go move. Market people talk say if political interference make people lose trust for fiat money, e fit make Bitcoin more popular as hedge, supporting e position as “digital gold”. Crypto traders need to watch how Fed policy independence and political risk dey develop because these things fit make price waka up and down more and create new trading chances.
Bullish
Trump talk about Fed independence first make Bitcoin drop 1.5% because e dash hope for easy policy, then e push am up 2% as political talk cause gbegbe. For short term, these wahala create business chance due to wahala. For long time, any political wahala wey spoil trust for money fit make Bitcoin strong as digital gold, wey go support demand and price strong. So, the overall effect on Bitcoin na good one.