has experienced significant growth in recent years, but it is still a relatively new and volatile asset class. Interest rate fluctuations can impact crypto markets, as higher interest rates can lead to a stronger U.S. dollar and increased borrowing costs, which can limit the appeal of risk assets. Conversely, a drop in interest rates can lead to a weaker U.S. dollar, which can boost the appeal of high-yielding assets, including cryptocurrencies.
Woods' views on interest rates and inflation may bring some relief to investors on the cryptocurrency market, which has recently experienced a decline in prices. As of writing, the price of Bitcoin, the largest cryptocurrency by market capitalization, was trading around $24,000, down from its all-time high of around $64,000 in April.
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