Asymmetric Founder: A 50 Basis Point Rate Cut, Cryptocurrency Expected to Rise

ChainCatcher news, according to Cointelegraph, cryptocurrency hedge fund Asymmetric founder and CEO Joe McCann stated that a 25 basis point rate cut could be detrimental to the cryptocurrency market. McCann believes, "If the Federal Reserve cuts rates by 25 basis points, the stock market will be severely impacted. Cryptocurrencies may fall as well. The reason is that, assuming a 50 basis point cut, the stock market would be at historical highs."

McCann stated that if the Federal Reserve cuts rates by 50 basis points, this could have a positive impact on risk assets such as cryptocurrencies.