Experts say that Crypto Prices will Nuke if the 100 bps Rate is Announced FOMC Meeting
Categories: Crypto News
Expertssay that Crypto Prices will Nuke if the 100 bps Rate is Announced FOMC Meeting
The rise ofinflation has all the eyes on one FOMC meeting. People who have grown toexpect this financial crisis expect the interest rate to be 75 bps. However,the new FOMC meeting has got them worried. Experts say that crypto prices will “Nuke”if a 100 bps rate is announced FOMC meeting.
TheRapid fall of most major-league cryptos
There hasbeen a major downturn for many major-league cryptocurrencies like Bitcoinand Ethereum over the last 48 hours. Bitcoin has received some relief aftercrossing the $19k resistance, but it is still far off from finding stableground. Ethereum has fallen below $1.4k – but that drop can be attributed tothe Merge Update.
Thereis a 16% probability of 100 Bps
According toCrypto Chase, one of the leading crypto experts active on Twitter, withover 100k followers on the platform as well as YouTube, was able to predict theBitcoin and Ethereum’s upswings, selling them at $56k and $4k, respectively. “GigaNuke” is the term he has given to what would happen to the crypto prices ifthe Feds decide to hike the interest rate by 100 Bps. And there is a 16% chancethat it might happen.
But what ifthe hike is 75 bps like people expect? Crypto chase says that it would let theliquidity flow both ways, resulting in a choppy price action that would lead to“Darth Maul Candle” that would stop the long and shorts before Fed chart Powellmakes any declaration.
TradingTank Says that Bitcoin Dip is Eminent If 100 BPS is decided
Trading Tankis another crypto expert who said his two cents about the latestdevelopments in the crypto market. In his post to his 7700 Twitter followers,he wrote that the CPI and PPI data were fresh, and the inflation rate was muchhigher than expected. That led him to stop his sell-off because of the 75 BPShike.
ExpertsContinuously weigh Their Perspectives on the Current Situation
Experts arewatching the current developments closely and eagerly adding their perspectiveson the current situation. The hike won’t only impact the crypto market.According to the John Kicklighter of the DailyFX, the ecological developmentsalso look bearish if the 100 bps hike rate comes to pass.
The currentperiod is particularly volatile in the crypto space. Investors must carefullyweigh their choices before investing. Furthermore, it is also important thatthey are always ready for the worst-case scenarios. The Fed rate hike is justone part of the changing phases of the crypto market. The rising callsfor regulations and utility-based cryptos can also impact the market.