Best Crypto to Buy Now 19 May – Bitget Token, Render, Injective
The battle between Bitcoin and the $27,000 mark continues, with the cryptocurrency struggling to make headway in the face of mounting economic challenges.
However, a ray of hope is beginning to break through the macroeconomic clouds as Federal Reserve Chair Jerome Powell suggests a possible abatement in rate increases.
In the face of mounting cryptocurrency market uncertainty, what are the best cryptos to buy now?
Powell, in a joint appearance with former Fed Chair Ben Bernanke at the Thomas Laubach Research Conference, suggested that financial strains might obviate the need for previously forecasted high interest rates.
He indicated that the "financial stability mechanisms have eased banking sector tensions."
However, he added that "their ongoing effects are tightening credit conditions and could potentially hamper economic expansion, employment, and inflation."
This, Powell elucidated, could lead to the central bank's policy rate not needing to climb as much as initially expected to reach its objectives.
As Powell stated, the forthcoming interest rate decisions will be a "continuous process."
This idea was initially presented during a press conference following May's Federal Open Market Committee (FOMC) meeting.
He stressed that "with the progress achieved so far, we have the luxury to examine the data and the evolving perspective and make prudent evaluations."
According to the CME FedWatch tool, about 78% of traders forecast the U.S. central bank will halt rate increases in its approaching policy gathering in mid-June.
A significant portion also speculates about a potential rate reduction later in the year.
Despite ongoing challenges, the cryptocurrency market continues to offer sound investment opportunities.
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