Global Crypto Markets Are Anticipating New Policies For Soon - Know Why?

Global Crypto Markets Are Anticipating New Policies For Soon - Know Why?

2021-12-16 | Daniel Smith

Global Crypto Markets Are Anticipating New Policies For Soon - Know Why?

Although the Fed conference begins at 2 p.m. Eastern time presently, crypto markets are anticipating policy announcements with bated breath. And, regardless of the fact that the conversations are anticipated to revolve over inflation, interest rates, and purchase tapering, crypto markets are indeed up and rolling. Cryptocurrencies are under stress before the Federal Reserve meeting According to MarketWatch, Bitcoin, BTCUSD, -2.67 percent has dropped more than 30 percent off its all-time high of $68,000 in November and is currently trading at $48,949 at the time of writing. Ether, ETH/USD, -2.48 percent, also is dropped more than 20% from its all-time high of $4,865.6 and is now selling around $4,017 as of press time. Surprisingly, just Solana (SOL) isn't even in the red zone on regular timescales among the 10 leading cryptos by market value. Stock markets aren't faring much better Similarly, the US stock market appears to be experiencing stress prior to the highly awaited Fed meeting. The S&P 500 SPX, -0.20 percent was off 34 points, or 0.7 percent, to 4,634, while the Dow Jones Industrial Average DJIA, 0.06 percent was dropped 83 points, or 0.2 percent, to 35,565 Tuesday afternoon. The S&P 500 SPX, -0.20% was dropped 34 points, or 0.7 percent, to 4,634. The Nasdaq Composite COMP, -0.85% has also fallen 177 points, or 1.2 percent, to 15,236.9. The Fed tapering has been a big source of anxiety for crypto fans, so what does it necessarily imply? Tapering does not imply selling the assets obtained, as many individuals believe. It indicates a tighter monetary policy, which is a forerunner to increased interest rates. Although taper has an impact on debt, it also has ramifications for the US and developing stock markets.

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