This morning, Powell spoke, and the crowd erupted.
Did you think he would come to harvest cryptocurrencies?
Instead, he actually praised digital currencies and stablecoins, and even nodded in approval at the idea of "banking services for cryptocurrencies," something that was once unthinkable.
It sounds like huge good news, as if spring is about to arrive in the crypto world.
But don't celebrate too early—
In the same speech, he also poured a bucket of cold water: no interest rate cuts in the short term, significant inflation pressure, a surging dollar, and market turbulence... each point buried like landmines in the text.
This isn't simply a bullish or bearish outlook. The cryptocurrency industry is at a critical juncture, facing both tailwinds and hurricanes.
If you are a player in the crypto space, now is the time to test your understanding. Should you get in? Get out? Or wait and see?
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Click here to understand the deeper implications behind Powell's speech.