The Fed commented on the explosive growth of the crypto market in the spring of 2021 - Get to know Forex

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The Fed commented on the explosive growth of the crypto market in the spring of 2021

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The US Federal Reserve has drawn attention to the aggressive growth of the cryptocurrency market in the spring months of 2021. As Bloomberg clarifies. the regulator linked the rally in bitcoin and other digital currencies with a surge in investor interest in risky assets. The agency notes that the Federal Reserve for the first time openly commented on the situation in the digital asset market. The Fed expressed its position in a report on the situation in the financial sector over the past six months. Officials of the American department have previously repeatedly touched on the topic of the growth or fall of cryptocurrencies, however, at the state level, the regulator for the first time devoted a special section to such tools in its report. The Fed believes it is too early to talk about the big impact of the cryptosphere on the traditional asset market. However, in the long term, the situation may change. Currently, the authors of the report do not seriously consider digital currencies as powerful tools. They put them on a par with real estate and Treasury bonds. The report states: The prices of such assets [криптовалюты] will collapse if investors’ risk appetite weakens and interest rates rise.

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