Bitcoin and alts set for Fed ‘jolt,’ market isn’t ready: Economist

Economist Timothy Peterson said that the US Federal Reserve's upcoming actions are likely to “jolt Bitcoin and alts up substantially.”

Crypto market participants may be underestimating how aggressive the US Federal Reserve will be in the coming months in shifting its policy direction, according to an economist.

“Markets are underpricing the likelihood of rapid rate cuts in the coming months on the part of the Federal Reserve,” Economist Timothy Peterson told Cointelegraph on Friday.

“There has never been a gradual reduction in rates like that currently envisioned by the Fed,” Peterson said, explaining that he expects “the surprise effect” to kick in and potentially catch the market offside.

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