The increasing pressure on the current Federal Reserve chair, Jerome Powell, has now become quite serious. Mumling of Powell’s departure has begun to receive mainstream attention. Powell has long been under pressure to lower the Fed prices immediately, an order that Powell has defied from late. This pressure has now become evident, as President Donald Trump has openly criticized Powell and reported his desire to appoint a new Fed chair.
This development has a grip on markets with ambiguity, with investors who think twice before exploring the markets actively. White traditional markets continue to adopt a questionable attitude while exploring the market domain. This is how Bitcoin can react to this news about Jerome Powell handing over his departure in the near future.
Powell’s departure may end up affecting bitcoin: two possible scenarios
1. A massive bitcoin over voltage is in progress
The pressure on Powell to resign is now a steady traction. Senator Cynthia Lummisalong with Florida congress woman Anne Paulina LunaHave said that Powell must resign, with Paulina adding a hint of security to her statement. This development has led to a widespread marketing frenzy, with traditional investors in particular who hold their breaths at large.
Powell’s departure has not yet been confirmed, but the aforementioned development provides a high level of market uncertainty right now. Powell’s departure in general can lead to a traditional marketing frenzy, which can lead to investors investing in bitcoin to protect their assets. When Bitcoin acts like a hedge in the meantime, it can significantly help BTC to turn its fortune for good.
2. Dovish Fed Hope May Error Bullish BTC Momentum
Trump has already mentioned his intention to appoint a new Federal Reserve Chairman. If the new chairman appointed is prone to liberal interest rate cuts, it can once again signal increased traditional uncertainty in the market. Lower interest rates tend to weaken the US dollar, while doing borrows cheaper. This can again force investors to invest in assets such as Bitcoin or gold to secure their financial routes and profits.