Wall Street tumbled on weekend trade after Fed Chair Jerome Powell's speech in Jackson
Hole, which signaled that the US central bank would continue to raise interest rates to tame inflation, dashing investors' hopes of a gentler rate hike path.
My question is will this have any impact on cryptocurrency projects
Admit it or not, crypto and stocks are somewhat correlated, so when stocks tumbled, crypto follow as what we have seen after this raise interest hike because it really doesn't sound good for investors. But for us, the more money is being printed then, probably some of it will go into crypto market. Not saying it's good to see it that way, money printing by the government, but they have to do something that sometimes it will benefit us.
And 2-3 days after the announcement, the price seems to level around $20k'ish. At least at the end of the month we didn't see below or new lowest low as what we heard others predicting. And altcoin market too might recovered next month.