Ethereum hits $5,000, Bitcoin aims for new highs, Powell's comments ignite market rebound
At the Jackson Hole seminar, Federal Reserve Chairman Powell released dovish signals, reinforcing market expectations for a rate cut in September, leading to a significant rally in the crypto market.
Analysts point out that Bitcoin is expected to reach new highs, while Ethereum's target price is aimed directly at the $5,000 mark.
However, industry insiders also warn that despite the shift in monetary policy favoring the market, challenges in adoption by corporate finance departments and potential volatility in the stock market could still pose risk factors suppressing the crypto market.