Inflation continues to rise worldwide. While many countries are making moves against these inflation increases, the rate decisions taken by the US Federal Reserve (FED) deeply affect the global markets and the crypto industry.

While global markets lost value sharply due to these developments, American venture capital investor Tim Draper shared his comments on this issue.

Tim Draper, who seems to have touched on critical points in his statements, conveyed the following words:

   “Although I believe that technology stocks will decline after the decisions taken to reduce inflation rates, I am still very optimistic about Bitcoin.”

BTC crypto

Fed Chairman Jerome Powell seems to have taken hawkish interest rate decisions to reduce inflation rates. Talking about this issue, Tim Draper expects a drop in technology shares.

Although Tim Draper expects a decline in technology stocks, he is still very optimistic about Bitcoin (BTC) and cryptocurrencies.

American venture capital investor Tim Draper concluded his statements with the following words:

   "I believe tech stocks will continue to decline as interest rates continue to rise."

Stating that technology stocks will suffer as long as the US Federal Reserve (FED) continues to increase interest rates, Tim Draper believes that Bitcoin (BTC) will make upward attacks again in this period.

Bitcoin (BTC), which has been in a continuous decline for 8 weeks, seems to have experienced firsts in its history. The leading cryptocurrency Bitcoin (BTC), which did not experience such a long loss of value even in the COVID-19 collapse, now seems to be on the rise.

At the time of writing, Bitcoin price changed hands at $29,476.81 according to CoinGecko data, while the last 24-hour trading volume of Bitcoin (BTC) was $15,121,372,942. Bitcoin (BTC) price is up 2.1% in the last 24 hours.