For some time now, we had gotten used to the fact that when Fed Chairman Jerome Powell spoke, crypto went down.
Yesterday, however, was different.
The Fed’s decision.
First, the Fed announced another 25 basis point rate hike.
This was actually a widely expected decision and had already been largely discounted by the markets, so there was no significant movement after the announcement.
But the official press release issued after the announcement made it quite clear that there would be no negative news.
In fact, there is nothing in that release that would reasonably suggest that things could be worse than expected.
Markets reason not on the basis of what has happened, but on the basis of what will happen, that is, what they reasonably expect might happen. What frightens them is not any negative news, but any unexpected negative news.
Because if the markets anticipate problems in the future, they discount them as soon as they become aware of them, and if this is done in adv
We współpracy z: https://en.cryptonomist.ch/2023/05/04/fed-jerome-powell-words-good-crypto/
