Bitwise CIO Explains Why He Does Not See Latest Crypto Crash as Anything More than a ‘Hiccup’
Late Wednesday (U.S. hours), Matt Hougan, the Chief Investment Officer (CIO) at Bitwise Asset Management, took to the social media platform X to comment on the Fed’s announcement and its impact on the crypto market.
On Wednesday, the Fed announced the decision of the Dec. 17-18 meeting of its Federal Open Market Committee (FOMC). According to the Fed’s FOMC Statement, although progress has been made on cutting inflation, it still remains higher than what they would like, which is “2 percent over the longer run” (they hope to get there by 2027). Anyway, to achieve their inflation target as well as meet their goal of maxium employment, the FOMC decided to lower the target range for the federal…
