Post a Comment Print Share on Facebook
Featured Estados Unidos Ucrania PP Rusia Crímenes

How Jerome Powell’s Nomination Could Disrupt the Crypto Market

President Biden has nominated Jerome Powel to lead the US Federal Reserve next year

- 64 reads.

How Jerome Powell’s Nomination Could Disrupt the Crypto Market

President Biden has nominated Jerome Powel to lead the US Federal Reserve next year. His nomination could disrupt crypto prices in a major way. Powell was nominated to lead the Federal Reserve on Monday 22 November 2021.

However, those nominations will need to be confirmed by a Senate vote. Currently, the Senate is split 50/50. However, the Democrats are in control since VP Harris could break tie votes. Within the progressive senate, some analysts believe Powell’s nomination could face opposition.

How It Could Disrupt the Crypto Market

The potential change of the Fed chairman could mean major changes to the US monetary policy, crypto regulation, and the US digital currency plans. All these disruptions could have huge effects on crypto trading in the US.

Besides that, some experts warn that crypto investors should conduct due diligence when picking a crypto project in which to invest. The reason for this is that some founders of crypto projects have been indicted and their crypt projects have come to a halt.

As the holidays approach, people will have a lot of free time to research crypto projects and they should use that opportunity well. It is a time to check every aspect of the project and understand whether it is worth the effort. One way to find out about crypto investing is to visit a platform such as The platform gives the latest news regarding crypto investing.

Until the uncertain regulatory environment is cleared up, crypto investors need to take time to understand how crypto works. One great option to learn about is how to use cold wallets. It ensures that all your crypto coins are not stored on a crypto exchange, which could be seized and shut down by the authorities.

Another area worth watching out for is the halving of BTC mining rewards. When halving takes place, it reduces the rate at which new BTC is produced. While that happens, the price of BTC tends to rise sharply from the pre-halving value. While prices of BTC have fallen in recent days, there is still a lot of interest in general and demand seems to be on the rise.

When the halving occurs, it could send BTC prices flying over the $100K mark. It is also important to keep up with the latest projects being launched in the crypto space. Some projects could be worth pennies on launch but their prices grow as the utility for the projects grows.

While it is hard to tell which project is genuine and which one is just a pump and dump, one could consider making a limited risky bet. If it pays off, well and good, if it does not, the loss will only be minimal. In general, succeeding in the crypto market will require that one makes serious considerations about the latest moves by regulators, including statements they make during conferences. While that is not regulatory action, the market tends to react to these statements. By timing one’s investments carefully based on the latest news, it is still possible to make gains in a highly volatile market.