• Federal Reserve Chair Jerome Powell suggests a possible abatement in rate increases which may favor the crypto market.
• 78% of traders forecast the U.S. central bank will halt rate increases in its approaching policy gathering in mid-June.
• AI, BGB, COPIUM, RNDR, ECOTERRA, INJ and YPRED are some of the best cryptos to buy now based on fundamentals and/or favorable technical analysis.
Federal Reserve’s Monetary Policy
The battle between Bitcoin and the $27,000 mark continues, with the cryptocurrency struggling to make headway in the face of mounting economic challenges. However, a ray of hope is beginning to break through the macroeconomic clouds as Federal Reserve Chair Jerome Powell suggests a possible abatement in rate increases. In the face of mounting cryptocurrency market uncertainty, what are the best cryptos to buy now?
@federalreserve Chair Jerome Powell and former Chair Ben Bernanke discuss perspectives on monetary policy at the inaugural Thomas Laubach Research Conference: https://t.co/Tzyoy7fcw3 pic.twitter.com/T0MPip1nGg— Federal Reserve (@federalreserve) May 19, 2023
Powell, in a joint appearance with former Fed Chair Ben Bernanke at the Thomas Laubach Research Conference, suggested that financial strains might obviate the need for previously forecasted high interest rates. He indicated that the “financial stability mechanisms have eased banking sector tensions.” However, he added that “their ongoing effects are tightening credit conditions and could potentially hamper economic expansion, employment, and inflation.” This could lead to potentially low interest rates as per his statement during a press conference after May’s Federal Open Market Committee (FOMC) meeting that “with progress achieved so far we have luxury to examine data and evolving perspective and make prudent evaluations.” CME FedWatch tool shows around 78% of traders forecast no further rate increases during its mid-June policy gathering which could bode well for crypto markets..
Best Cryptos To Buy Now
Despite ongoing challenges posed by macroeconomics on crypto markets there remain several sound investment opportunities available . AI , BGB , COPIUM , RNDR , ECOTERRA , INJ , YPRED are some of these cryptos that offer lucrative potential based on fundamentals or technical analysis .
AiDoge
AiDoge meme coin presale has become popular within crypto markets where it has managed to raise over $10 million towards its hard cap goal of $14.9 million . The coin promises unique features like AI enabled memes powered by blockchain technology which could be beneficial for users looking for an enjoyable platform while diversifying their portfolios .
Injective Protocol
Injective Protocol is another novel venture offering token holders access to decentralised derivatives trading platforms . It allows them access to perpetual contracts across multiple asset classes such as stocks , commodities & cryptocurrencies from anywhere in world without worrying about counterparty risk or exchange hacks . It also offers liquidity mining incentives through its INJ token among other attractive features making it one of more promising cryptos right now .
Conclusion
Crypto markets offer several viable investment opportunities despite macroeconomic challenges posed by current financial environment . These range from AiDoge’s meme coins powered by artificial intelligence & blockchain tech all way up Injective Protocols decentralised derivatives trading platforms allowing users access various asset classes securely without worry about counterparty risk or exchange hacks .