Bitcoin News: Balaji S. Srinivasan, former CTO of COINBASE crypto exchange who recently set a bet on the Bitcoin price to reach $1 million in the next 90 days, dropped his expectations around rate hikes before the crucial FOMC meeting. However, the global digital asset mark printed green indexes despite the fear in investors regarding the ongoing banking crisis.
Bitcoin Looks Calm; Fed In Chaos
Srinivasan suggested several improvements in the system as it looks broken to him. He highlighted that on the left, the market is in chaos over the Fed rate, however, on the right, Bitcoin is looking calm amid all the crises.
Buy Bitcoin And End the Fed, stated Ex-CTO. He mentioned that one cannot plan for the future when the governing authorities are making it up. Recent chaotic graphs depict that the agency has no clue of what they are doing.
Mocking the agency’s attempt to calm down the banking crisis, Srinivasan marked it as the academic justification for political decisions. He further stated that the Fed is lacking in keeping the check and balances. However, if a sales guy misses a forecast of million dollars, the guy loses his job, while if the Fed misses a forecast of trillion dollars, there is no accountability check. Read More Bitcoin News Here…
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As per the Former Coinbase CTO, the Federal Reserve has moved the rates in both directions so hard that they crashed the entire US banking system. He advised the investors to stick with dollars or Buy Bitcoin amid the chaos.
Bitcoin price has managed to register a surge of 15% over the past 7 days. Holding the crucial $28k level, BTC is trading at an average price of $28,166, at the press time.
Also Read: Bitcoin Price Set For $35,000 After US Fed Rate Hike Decision
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