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Crypto Trends

The demand for the Trump rate reduction rate by 2 % to Bitcoin after $ 110,000 may be paid

On June 18 / his statement comes as the Federal Agency is expected to make a major decision on reducing interest today.

Although he doubts the chances of reducing the interest rate, Donald Trump said: “He is not a smart man. He is concerned about inflation. If there is an enlarged in six or nine months, you are lowering prices or raising prices. You can do what you want. We have a stupid person, frankly, in the federal reserve.

According to Trump, if a federal agency has reduced the interest rate by 2-2.5 %, it will save between $ 700 to 800 billion dollars on their debt payments.

Since Trump was elected as president, the European Central Bank (ECB) has already reduced interest rates 3 times. On the other hand, the agency, which is led by Jerome Powell, refuses to constantly reduce interest rates by indicating the problem of increased inflation. By maintaining interest rates, Jerome Powell wants to ensure economic stability.

President Trump said: “Europe had 10 discounts, and we had nothing. I think he is a political man, I do not know. He is a political man who is not a smart person, but he assigns the country a wealth,” President Trump said.

Will Trump’s request help Bitcoin break the $ 110,000 barrier?

In the midst of the continuous war -like situation between Iran and Israel, the cryptocurrency market gets success and wipes great liquidity from the cryptocurrency market. This led to a decrease in the price of the major cryptocurrencies such as Bitcoin and Ethereum.

For example, the largest encrypted currency, Bitcoin, decreased by 4.5 % per week, reducing its price from $ 110,000 to 104,787 dollars. On the other hand, Ethereum also decreased by approximately 12 % a week, and decreased from $ 2,842 to $ 2,512. If the Federal Reserve reduces interest rates, the cryptocurrency market may help recover from this decrease.

However, the cryptocurrency market has received some good news in the past few days. On June 17, the US Senate approved the Stablecoin Bill, a genius law, which represents a major victory for Stablecoin.

Also, JPMorgan, the banking giant, is preparing to test the distinctive code for “JPMD” after registering a brand for itself. These positive developments can provoke an emerging moment in the cryptocurrency market, which can help BTC to break the mark of $ 110,000.

Also read: Trump may take measures to end the Iranian nuclear enrichment: JD Vance

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