Kevin Warsh has emerged as the clear frontrunner to succeed Jerome Powell as the Chair of the Federal Reserve. Warsh is widely considered the most "pro-Bitcoin" candidate to ever be nominated for the role. However, historical data casts a long, dark shadow over Fed leadership changes. In every major transition over the last decade, Bitcoin has suffered double-digit percentage collapses.
The "Fed Chair Curse": A History of Bitcoin Crashes
To understand the current market anxiety, one must look at the precedent set by previous appointments. Historically, the uncertainty surrounding a new Fed Chair’s "hawkish" or "dovish" stance has triggered massive sell-offs.
| Jan 2014 | Janet Yellen takes office | -82.77% |
| Feb 2018 | Jerome Powell takes office | -73.89% |
| May 2022 | Jerome Powell’s 2nd Term | -61.06% |
In 2014, Janet Yellen'...
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