Cryptocurrency It is a known fact that there is a correlation between the market and the US stock market. When we look at the latest data, we see an increase in sales in both markets. CNBC host Jim Cramer criticized earlier short-term positive price fluctuations.
According to the experienced trader, it is possible to see a real rally in the market until rates stabilize at any level. not.
No real rally unless rates stabilize at ANY level!
— Jim Cramer (@jimcramer) February 28, 2023
NEWS CONTINUES BELOW
Exchange, US Federal Reserve It is very sensitive to changes in currency rates set by With high inflation recorded last year, the Fed has been persistent and tough on raising interest rates. In the last two meetings of the Federal Open Market Committee (FOMC), Fed officials cut rate hikes by 50 and 25 basis points, respectively.
Koinfinans.com As we have announced, the recently announced Personal Consumption Expenditure (PCE) Index, which is the Fed’s preferred inflation indicator, recorded an annual growth of 5.4%, which strengthened the possibility of a return to hawk rate hikes.
Jim CramerAccording to , until these rate hikes stabilize, the growth momentum in the market will be uneven and largely unpredictable.
How Should Crypto Investors Interpret This?
Understanding that there is a large volatility that could extend into the medium term can give crypto traders a sense of caution and urge them to hedge their bets as safely as possible in all their positions.
It is already known that his advice is not very positive for crypto bulls, as Cramer is more pessimistic when it comes to the cryptocurrency ecosystem. Cramer is currently bitcoinHe is one of the most critical of crypto assets as well as of other crypto assets, arguing that investors need to find the right time to empty their bags before everything goes back to zero.
You can follow the current price action here.