Reported 21 days ago
As the cryptocurrency market anticipates the Federal Reserve's first interest rate cut in four years, Bitcoin has reached a three-week high. Devin Ryan, director of financial technology research at Citizens JMP, discusses the potential positive impacts of lower interest rates on the crypto and fintech sectors, highlighting that easing rates could foster a 'risk-on' environment conducive to growth and increased transaction activity. He notes a significant divergence in performance among fintech companies, with those achieving profitability showing substantial stock gains, while others remain under pressure.
Source: YAHOO