After a short-lived reprieve from June lows, the crypto market neared crucial support levels on Fed's hawkish chorus.
JPMorgan Strategist Advises Investors to Sell Bitcoin, Crypto After Fed’s Hawkish StanceAfter a short-lived reprieve from June lows, the crypto market neared crucial support levels on Fed’s hawkish chorus.
With the US Federal Reserve firming up its ante against inflation and dismissing discussions about any softening of monetary policy. JPMorgan’s chief global strategist, David Kelly, has made some suggestions for crypto investors concerned about the direction of the market.Friday after Fed Chair Jerome Powell’s speech at Jackson Hole, Wyoming, Kelly said that the best way to be positioned now is to focus on valuations and avoid looking at short-term direction.
“The economy has got one foot into a recession and the other on the banana peel now. Make sure you overweight US and international value, as well as stocks with relatively low price-to-earnings ratio.”Traditional, as well as the crypto market, suffered major declines since the beginning of the year on fears of tighter monetary policies to stamp out inflation which has hit the highest levels in forty years. As a result, the economy is slowly being dragged into recession.
Having said that, the strategist believes that the economy will feel more normal by the end of next year. Kelly also added that the “Federal Reserve is overestimating the strength of the US economy as it feels guilty about the fact that inflation went up under their watch.”Many experts are of the opinion that risky assets will continue to struggle as Powell tackles inflation with a restrictive monetary course.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Arrest made following fatal SE Houston shooting of 18-year-old in JuneAccording to police, Dione Mathis, also known as Dione Brown, 23, is now charged with murder in connection to the shooting death of 18-year-old Kelvin Shaver.
Baca lebih lajut »
Stone Cellar Bistro Is the Latest Addition to Olde Town Arvada's Restaurant Renaissance'We describe this place as a Colorado bistro. So it's Colorado flavors with French techniques.'
Baca lebih lajut »
Pakistan flooding deaths pass 1,000 in ‘climate catastrophe’Officials in Pakistan say deaths from widespread flooding have topped 1,000 since mid-June and the country’s climate minister called the deadly monsoon season “a serious climate catastrophe.” Flash flooding from the heavy rains has washed away villages and crops as soldiers and rescue workers evacuated stranded residents to the safety of relief camps and provided food to thousands of displaced Pakistanis. The country’s National Disaster Management Authority reported Sunday the death toll since the monsoon season began earlier than normal this year in mid-June. Deaths reached 1,033 people after new fatalities were reported in Khyber Pakhtunkhwa and southern Sindh provinces.
Baca lebih lajut »
Chicago Bulls player Nikola Vucevic buys 6-bedroom Lincoln Park home for $4.75MChicago Bulls center Nikola Vucevic in June paid $4.75 million for a six-bedroom, 5,245-square-foot house in Lincoln Park.
Baca lebih lajut »
Two Air France Pilots Suspended After Fistfight in the CockpitAn airline official said two Air France pilots were suspended after physically fighting in the cockpit on a Geneva-Paris flight in June.
Baca lebih lajut »
Pakistan flooding deaths pass 1,000 in ‘climate catastrophe’ISLAMABAD (AP) — Deaths from widespread flooding in Pakistan topped 1,000 since mid-June, officials said Sunday, as the country’s climate minister called the deadly monsoon season &822…
Baca lebih lajut »