In an electrifying turn of events, cryptocurrencies have experienced a substantial surge following Federal Reserve President Jerome Powell’s surprising dovish remarks at the Jackson Hole economic symposium. Investors had anticipated a hawkish outlook, but Powell’s tone shifted expectations, igniting a rally in digital assets.

Powell's Game-Changing Speech

During his pivotal speech, Powell indicated that lower borrowing costs could positively affect the labor market, holding the benchmark interest rate steady at 4.25% for an extended eight months. He warned, "Downside risks to employment are rising," hinting at potential economic shifts that may prompt a reevaluation of monetary policy.

With this dovish pivot, market analysts are now anticipating soaring new all-time highs for Bitcoin and Ethereum, with BTC eyeing a monumental reach of $115,635.82!

Bullish Predictions for BTC and ETH

Analysts from Monarq Asset Management predict that Ethereum’s price will rocket past $5,000 soon. Sam Gaer, the firm’s Chief Investment Officer, expressed confidence, stating, "Market internals remain constructive, with a clear path to record highs for both BTC and ETH." "Given Powell’s stance, the forecast for $5,000+ seems easily achievable in the near term,