Bitcoin has crashed 68% from its peak — but one bull says latest crypto winter is a 'warm winter'
The biggest challenge right now for crypto lies in the uncertainty surrounding the Fed's monetary policy and if the central bank will slow the pace of interest rate hikes, said Yuya Hasegawa, crypto market analyst at Japanese crypto exchange Bitbank.Fed's next policy move at the Jackson Hole summit
on Friday. Any slowdown in the pace of rate hikes could be positive for crypto markets, Hasegawa said. "I think the Fed will gradually have to face and address some signs of economic slowdown soon, so my mid-term outlook is somewhat optimistic," Hasegawa said.that predicting the Fed is challenging as the economic picture remains mixed.
"A move to become less hawkish could be very supportive of Bitcoin prices. As hawkish Fed policy initiated this bear market in December/January, so could a dovish stance prompt it to break out of its $20,000–$25,000 trading range," he said.Ether, the world's second-largest cryptocurrency after bitcoin, is the token native to the ethereum blockchain.
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