Crypto Rover shared some breaking news today.
The platform predicts that Trump might remove Powell by 2025. There is a 21% chance that Powell will be gone for good this year. But the market dreads that there will be consequences once that happens.
Especially, a coveted threat of volatility will be hovering around the corner once Powell is removed.
The historical facts also suggest that the removal of Powell could be setting off a visible political inclination. Will it be fruitful for the crypto industry? There are already major concerns about that.
Most importantly, the move can directly affect the BTC nd other altcoin prices. Traders should also monitor the situation from close range.
They should also consider multiple hedging strategies for the protection of their portfolios if upheaval strikes the market anytime soon.
Detailed Analysis
After Crypto Rover’s tweet about Powell’s possible removal, the market seems to be stricken by a void now.
There are already visible ripples around the decision. In the meantime, BTC has experienced a rigorous drop of 2% to reach a value of $68,300.
ETH is also following the same path. According to experts, ETH traders share the same vibe as BTC traders do.
ETH has now come down to $3,200, marking a decline of 1.8%. At the same time, volatility in the trading pairs like BTC/USD and ETH/USD is visible. Now, the next threat is that the broader economy might also suffer unrest if the original decision is made anytime soon.
The Nexus Is Approaching!
Powell’s resignation could set off significant changes to the Federal Reserve Policy. It might also affect interest rates. The monetary policy as a whole might be under a massive change protocol!
