Hans-Stefan von Hänisch believes that the crypto industry needs softer monetary policy remarks from the US Federal Reserve System (FRS). According to him, several rate cuts and the expansion of the Fed's balance sheet are key indicators that are expected in the crypto market.
"There is a general lack of excitement in the cryptocurrency market. Most of the news that is currently spreading, for example, about the sale of MtGox, is rather bearish," said the top manager of OSL SG Pte.
The trader stressed that investors are waiting for US employment data to get hints about the prospects for Fed policy. Recent weak economic reports have strengthened market confidence in the easing of the Fed's monetary policy in the coming months.
The bitcoin exchange rate has been declining for the fourth trading session in a row. Yesterday, July 4, bitcoin fell below $58,000 for the first time in two months. Earlier, Anthony Pompliano, an American investor and founder of Pomp Investments, spoke about the possible prospects of bitcoin and gave investors advice on what they should do during the fall of the BTC exchange rate.