Bitcoin

when

Elon Musk

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-prices-drop-after-testing-89000/" data-wpel-link="internal">Bitcoin Prices Drop After Testing $89,000</a> 
Bitcoin price has retreated after testing $89,000 and is currently at $86,450. Some <a href="https://en.coin-turk.com/decentralized-finance-altcoin-lido-ldo-poised-for-significant-growth-says-venture-capitalist/" data-wpel-link="internal">altcoins</a> continue to gain, with <a href="https://en.coin-turk.com/dogecoins-market-performance-and-future-predictions/" data-wpel-link="internal">DOGE</a> quickly climbing to the $0.4 mark. The relationship between Trump and Elon Musk likely influenced this rise. What direction did the recent comments from Fed members take? 
<h2 style="text-align: justify" id="cryptocurrencies-and-the-fed">Cryptocurrencies and the Fed</h2> 
Fed member Waller recently stated that stablecoins are ultimately synthetic dollars. Expected regulations in this area are a priority, and we will see stablecoins being regulated with Trump’s return to office. This could lead to a new process in which crypto-based dollars grow faster globally and are actively embraced by banks. 
Key points from Waller’s speech included: 
<blockquote> 
 “The private sector is the most suitable for innovation in payment systems. There are times when the government can address market inefficiencies. The government must have a clear objective when providing financial services. The Fed is ready to support private innovation, but it also considers financial stability. I still do not see a justification for the Fed’s digital dollar.” 
</blockquote> 
Another Fed member, Barkin, mentioned that the focus could shift towards upward inflation risks or downward employment risks depending on how the economy develops. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-406023 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/11/fed-watch-aralik-toplanti-beklenti.png" alt="" width="1501" height="617"> 
There is a 65% likelihood of a 25bp cut in the Fed meeting set for December 18, which indicates that a targeted 100bp cut is expected to occur throughout 2024. 
The post <a href="https://en.coin-turk.com/bitcoin-prices-drop-after-testing-89000/" data-wpel-link="internal">Bitcoin Prices Drop After Testing $89,000</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Prices Drop After Testing $89,000

Table of Contents

COINTURK NEWS

Other articles published on Nov 12, 2024

Italy scales back plans to hike crypto tax rate: Report

Top 5 Meme Coins to Invest In Now as Bitcoin Reaches New Highs

MicroStrategy Bets Big Again Adding 27,200 Bitcoin to Portfolio

FTX Sues Binance and CEO Changpeng Zhao for $1.8B Over Alleged Fraud

Best Cryptos to Own Now: Qubetics Revels with Multi-Chain Wallet as Toncoin and Cardano Turn Green

Ripple Price Prediction: Can XRP Hit $0.74? Key Levels to Watch Now

Join our free newsletter for daily crypto updates!