Alts will live and die by the FED...
Hi HODLers and Stocks traders!
If you are a believer in the market, today is a good day.
And why is it a good day? Because our dear FED did not pressure financial markets by forecasting more rate hikes that already planned.
What's funny is that Bitcoin became valuable during the 2019-2020 run because FED had lost it and started printing like crazy.
Since they have been hiking rates, CryptoMarkets and StockMarkets have been under pressure (the latter even more so).
Now that we have another "positive" FOMC on the monetary policy, we shoot up again!
NASDAQ Daily Chart
Crypto Heat Map
Conclusion: As I have said numerous times. CryptoMarkets are extreme risk-on assets meaning they go up when rates are low and you can/have to take more risks!
This was the situation during 2020/2021. I believe despite the current meeting we just had that it is too soon for the FED to "ease" these hikes. Therefore I expect more pain for Alts (Bitcoin should fare quite well in that period imho).
In any case, let's celebrate! What a great day! A green day!
Stay safe out there,
Latest Analysis
Posted Using LeoFinance Beta
