Joe McCann, founder and CEO of cryptocurrency hedge fund Asymmetric, said a 25 basis point rate cut could be bad for the cryptocurrency market.
"If the Fed cuts interest rates by 25 basis points, the stock market will take a big hit. Cryptocurrencies could fall with it. The reason is that if you cut interest rates by 50 basis points, the stock market will be at an all-time high," McCann said.
But he added that if the Fed cuts interest rates by 50 basis points, it could have a positive impact on risky assets such as cryptocurrencies.
Asymmetric founder: 25 basis points rate cut could be bad for the cryptocurrency market
2024-09-18 06:16:55
Crypto currency fund asymmetric founder chief executive official Joedesk3cryptocurrencydesktopCrypto News
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