Asymmetric founder: A 50 basis point interest rate cut will lead to a rise in cryptocurrencies

Joe McCann, founder and CEO of cryptocurrency hedge fund Asymmetric, said a 25 basis point rate cut could be bad for the cryptocurrency market. McCann believes: "If the Fed cuts interest rates by 25 basis points, the stock market will be hit hard. Cryptocurrencies may fall with it. The reason is that if the interest rate is cut by 50 basis points, the stock market will be at an all-time high." McCann said that if the Fed cuts interest rates by 50 basis points, it could have a positive impact on risky assets such as cryptocurrencies. (Cointelegraph)