U.S. Federal Panel Claims Cryptocurrencies Can Boost The Economy, Will It Result In Bullish Trend?

The talks to allow digital currencies to exist in U.S. economy are underway. The suggestion is to achieve this by linking cryptocurrencies to the U.S. dollar. This contemplation took place on Tuesday at a meeting held by the U.S. Fed. At the meeting, a panel of speakers stated that the dollar status would gain more strength with crypto assets in the U.S. economy. Moreover, this will also give a boost to the digital currency industry. Strength Of Dollar Could Improve Through Cryptocurrencies The current state of cryptocurrencies is still posing some level of uneasiness in the mind of cryptocurrency traders. Many still doubt that the market will take a bullish turn sooner than later. Considering this, the panelists thought it wise to mention incorporating these digital currencies into the U.S. dollar. They believe that this will improve the status of the dollar and the cryptocurrency community. The panel added that the rise would be possible as crypto traders continue to use these digital currencies, particularly the CBDCs. They stated that the dollar changes would be evident in its role in the international market. According to the Fed Chair, Jerome H. Powell, there is a tendency for altcoins and stablecoins to increase in price. He made this statement last month. This reveals that the move to link cryptocurrencies to the U.S. dollar has been in the pipeline. He added that due to the fast growth of these digital assets, the Fed...