Crypto Blog
The COVID-19 pandemic led to massive economic disruptions, prompting the US government to print trillions of dollars, which resulted in high inflation.Lowering rates, on the other hand, could boost investment in numerous cryptocurrencies, with the Fed previously hinting at such a pivot.
Apart from the numerous victims and pressure on the health sector, the outbreak of the COVID-19 pandemic at the start of 2020 resulted in vacated jobs, uncertainty, isolation, financial instability, and many other setbacks. Amid those gruesome conditions, the US government printed trillions of dollars to support theeconomy. However, the increased money supply resulted in surging inflation rates and further problems for America’s fiscal policy.
The US Federal Reserve stepped in by enforcing multiple anti-inflationary measures, such as raising interest rates. Between March 2022 and July 2023, the central bank lifted the benchmark 11 consecutive times,The latest data shows that inflation in the US has cooled off, meaning the Fed might soon pivot from its aggressive regime. In the following lines, we will observe how such a measure might impact the prices of some of the leading cryptocurrencies.
Solana is home to many retail investors because of its faster transaction times and cheap fees, creating grounds for potential increases should interest rate cuts start heating up the risk-on market.Meme coins are often the cryptocurrency industry’s most volatile asset in the case of ground-breaking events.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
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