"Different opinions differ, so the Fed has to make a decision accordingly."
The price of the king of cryptocurrency Bitcoin (BTC) slipped over 2% after the President of the Federal Reserve (Fed) of New York, John Williams agreed with the statement of Fed officials who want to raise interest rates by 50 basis points in 2023.
Even so, the Fed that once stated to target inflation at 2% has caused Williams to give the opposite view that the United States (US) should get supply and demand balanced first to lower inflation.
Williams also thinks an increase in interest rates from 5.00% to 5.25% is still reasonable even though Fed officials are predicting 5.1% by the end of 2023.
It is widely known that the Fed raised interest rates by 25 basis points to 4.75% last week as inflation saw a decline and employment data strengthened.
That streak, Williams is confident that further rate hikes will depend on future data releases.
So far, the price of BTC has been hovering around $22,950 from $23,300 in the last 24 hours while the US Dollar Index (DXY) has reportedly surged on news that the Fed may raise interest rates this year.
Meanwhile, digital assets such as Ethereum (ETH), Dogecoin (DOGE), Cardano (ADA), Shiba Inu (SHIB) and others also plunged around 2% in the past 24 hours.
