'Golden Opportunity' – Bitcoin and Cryptocurrencies Suddenly Brace for 'Critical' Fed Price Quake

Bitcoin and cryptocurrency prices have struggled over the past week as details of a radical crypto plan from Donald Trump’s son, Don Jr., leaked that could define the “future of finance.”

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Bitcoin has fallen below $60,000 per bitcoin after breaching the psychological level over the weekend (although one legendary trader said he expects China’s coup to blow up the recent rally).

Now, as iPhone maker Apple prepares for a potentially game-changing update to its Wallet app, bitcoin and crypto traders are bracing for Federal Reserve Chairman Jerome Powell’s signal that the Fed will start cutting U.S. interest rates in September — a “golden opportunity” to capitalize on this narrative.

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Forbes “The Future of Finance” – Trump’s Radical Plan for Massive ‘Change’ in Banking Revealed By Billy Bambrough

Federal Reserve Chairman Jerome Powell is scheduled to speak this week at the central bank's annual conference in… [+] Jackson Hole, Wyoming, and this could wreak havoc on Bitcoin and cryptocurrency prices.

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The annual Jackson Hole Economic Policy Symposium for central bankers begins Thursday in Wyoming, and Federal Reserve Chairman Jerome Powell's keynote speech on Friday is expected to give markets either a positive or negative signal for a September interest rate cut.

Powell is widely expected to signal a cut in borrowing costs after the Federal Open Market Committee last month kept its benchmark interest rate in a range of 5.25% to 5.5%, in what would be the first rate cut in four years.

Goldman Sachs economists said they were increasingly confident the Fed would cut interest rates by 0.25% when it meets in September but said “another negative surprise in jobs on September 6 could lead” to a 0.5% move after a weaker-than-expected jobs report earlier this month.

The Federal Reserve has been rapidly raising interest rates in the wake of the COVID-19 pandemic and lockdowns, as inflation threatened to spiral out of control, in part due to its ultra-loose monetary policy in the era of COVID-19.

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Forbes “It’s Over” – Leak Raises Serious Fears of U.S. Crypto Crackdown as Bitcoin Price Soars Again By Billy Bambrough

Bitcoin's price has surged again this year, hitting an all-time high… [+] $70K per Bitcoin and boosting the broader cryptocurrency market.

Forbes Digital Assets

“Powell’s speech comes in the context of a sea of ​​real uncertainty, both domestically and globally, amplified by the erosion of three key anchors of stability: steady and predictable economic growth, effective policy guidance, and only small pockets of technical weakness involving excessive leverage and excessive risk-taking by market participants,” Mohamed El-Erian, former CEO of Pimco and chief economic adviser at Allianz, wrote in a Bloomberg article.

“That’s why it’s so important that Powell seize the golden opportunity he had on Friday to regain control of the economic and political narrative.”

Cryptocurrency and stock markets have rebounded after Bitcoin's price crash in early August, with traders still concerned that the rally may be short-lived.

“Investors will be looking for hints on the path to rate cuts, with a September rate cut looking fairly certain in the minds of most observers,” Russ Mould, chief investment officer at AJ Bell, said in emailed comments.

“Powell’s words and tone may help determine whether the market’s recovery since the short, sharp shock in early August is sustainable.”

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