Dr. Muhammad Abdel-Muttalib, a founding partner in the “x-pay” company, said that cryptocurrencies are a sector of assets related to global conditions in terms of interest, liquidity and political turmoil, and if the US Federal Reserve decides that it will stop raising interest until the end of the year, currency prices are expected to rise. encrypted.
He added in an interview with Al-Arabiya: “Certainly, if the US Federal Reserve cuts interest, the prices of cryptocurrencies, especially Bitcoin, will rise dramatically.”
He stated that the cryptocurrency sector is moving in harmony, and the rise is not limited to one currency only, and there are no significant differences between currencies in this matter, but bitcoin is the leading currency and in the event of turmoil, it withdraws money from other currencies, especially since the large liquidity of other currencies makes it difficult for investors to get out of it. .
He added, “When a problem occurs, small cryptocurrencies suffer greater losses due to the withdrawal of liquidity from them to larger currencies such as Bitcoin, and if global conditions are encouraging for cryptocurrency investors, then all currencies go up, but Bitcoin remains number one, then Ethereum, and then the rest of the currencies move after it.”
