Before the speech, most people were enjoying their Friday. But then Jerome Powell spoke at Jackson Hole and shocked everyone by saying, “The shifting balance of risks may warrant a policy adjustment.”

Translation: In September, rates will go down.

How this changes the game completely

You need to know what just happened. We’ve been living under tight money policy for years now.

The Fed kept raising rates, which squeezed markets like a vise.

Now they are about to change everything.

When money is once again cheap, it flows into risky assets. And crypto? We’re the world’s riskiest asset class. When money flows back in, we get the biggest pumps.

Ethereum: It looks like the bulls are back

As Powell spoke, ETH did something magical: it reached a new all-time high of $4,888.