In a startling turn of events, Bitcoin and other cryptocurrencies have taken a significant drop. This sudden downturn in the crypto market is heavily attributed to Jerome Powell’s December Warnings. Powell, the Chairman of the Federal Reserve, had made a few cautionary remarks about Bitcoin and other cryptocurrencies. His warnings seem to be materializing, causing a sheer panic in the crypto market, as reflected in the plummeting prices. Importantly, Powell’s view that cryptos are ‘more for speculation than payments’ casts uncertainties over its future use and stability. This article dives deep into the association between his warnings and the current crypto unrest. Read More
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