Friday, 2 June 2023

Crypto News

AltSignals (ASI) presale pace up as Fed hints at rate pause

AltSignals (ASI) presale pace up as Fed hints at rate pause

  • AltSignals (ASI) token sale continues as crypto is poised to react higher.
  • This follows hints by the US Federal Reserve of pausing interest rate hikes.
  • ASI token could also benefit from expected explosion in interest around artificial intelligence (AI) projects.

Artificial intelligence continues to make waves, with both consumers and businesses looking to tap into opportunities being presented by the technological leap. Airbnb CEO Brian Chesky said in an interview with CNBC on Thursday that AI could be bigger than the internet revolution.

AltSignals, a trading signals platform looking to upgrade its algorithm by introducing an AI-powered layer, is among those attracting huge attention. The AltSignals presale is in progress, with the second stage nearly 70% sold out.

Fed pause could see crypto prices react higher

Bitcoin price currently hovers near $29,000 after investors reacted positively to the US Federal Reserve’s signal that it could pause its interest rate hike trajectory. 

The Fed’s hint towards taking a more cautious approach came after it raised rates by another 25 basis points on Wednesday. The US central bank’s interest rate rose to the 5.00%-5.25% range after the latest hike. It comes amid fresh uncertainties amid bank failures, warnings about the US debt ceiling and the continuing issue of inflation. 

Fed Chair Jerome Powell hinted to this in his speech, with the next FOMC meeting now of key interest to investors. With an end to the rate hike cycle likely coming, it could be time for markets to find new momentum, which we highlight here.

The scenario in the crypto sector will likely be where interest in established assets like Bitcoin, Ethereum, Litecoin and others, spills into projects in categories such as layer 2s, GameFi, play-to-earn and artificial intelligence.

Why would now be a good time to buy AltSignals?

Investors are likely to continue seeing Bitcoin as a safe haven asset amid ongoing bank failures and economic woes that impact traditional assets. Crypto as a whole is also proving quite attractive as a way for people to diversify their portfolios.

If the expected Bitcoin bull cycle sets in, soaring market could catapult ASI token higher – a scenario seen with other projects that launched during the last bull market. As crypto edges closer to the historically bullish period marked by BTC halving, taking…

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