Cryptos concept stocks experienced significant declines, as of the time of reporting, LINEKONG (08267) fell by 5.66%, trading at HKD 0.5; GRANDSHORES (01647) dropped by 3.57%, trading at HKD 0.081; OSL GROUP (00863) decreased by 1.91%, trading at HKD 7.7.
According to the Zhitong Finance APP, Cryptos concept stocks experienced significant declines, as of the time of reporting, LINEKONG (08267) fell by 5.66%, trading at HKD 0.5; GRANDSHORES (01647) dropped by 3.57%, trading at HKD 0.081; OSL GROUP (00863) decreased by 1.91%, trading at HKD 7.7.
In news, Federal Reserve Chairman Powell clearly stated at the press conference following the monetary policy meeting that the Federal Reserve has no intention of participating in any government plans to hoard Bitcoin. He emphasized that such issues fall within the jurisdiction of Congress, and the Federal Reserve is not seeking to change existing laws to allow the Holding of Bitcoin. Powell also mentioned that despite the rate cuts taken in December, future adjustments to monetary policy will proceed at a slower pace.
Analysts pointed out that although Trump promised to implement policies favorable to the Industry of digital assets and has planned to create new cryptocurrency-related positions in the White House, nominating Bitcoin supporters, there are both opportunities and significant real-world obstacles facing policy implementation. Influenced by the news, on December 19, Bitcoin briefly fell below the USD 96,000 mark, hitting a low of USD 95,700 per coin. Bitcoin has corrected from a high of USD 108,000 per coin, dropping over USD 10,000 per coin within two days.