Will the Fed Rate Cut Trigger Altcoin Season?
The long-awaited interest rate cut has arrived, and with it hopes that crypto prices may soar again across the board. Bitcoin (CRYPTO: BTC), which has been creeping up all month, gained 2% in the hours after the announcement. Ethereum (CRYPTO: ETH) gained more than 3%.
But what about the smaller coins? Some of them are certainly doing well. As of Sept. 18, Avalanche (CRYPTO: AVAX) had gained almost 20% in a week and Binance Coin (CRYPTO: BNB) was up almost 9% in the same time period.
Even so, one notable aspect of this year's crypto summer is that only Bitcoin, Ethereum, and a handful of other coins have seen significant inflows, leaving other projects out in the cold. Crypto enthusiasts hope the Federal Reserve rate cut and expected raft of spot crypto exchange-traded fund (ETF) approvals by the Securities and Exchange Commission (SEC) might be the boost altcoins need. Let's dive in and find out how realistic that might be.
Source Fool.com
