CandleFocus $1.50 Trillion Wiped Out of US Stock Market, So Why is the Crypto Market Dumping and When Will it Recover?
2024-12-19
Author: Content Editor
Bitcoin and the crypto market experienced a slight dip, falling from $104,000 to $101,000 after reaching its all-time high at $108,000. Despite this, the crypto community remains strong and optimistic. The US stock market also faced significant losses, wiping out over $1.50 trillion in a single day. Federal Reserve Chair Jerome Powell stated that the Fed is not allowed to own Bitcoin, which may have contributed to the dip. However, the crypto community recognizes that rules can change, and they have faith in Bitcoin's potential, with many expecting it to reach $200,000 in the coming year. The FOMC summary suggests that rate cuts are still expected, causing short-term panic but foreseeing major gains in the crypto market in the long term.
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